54 karma · joined March 31, 2015
Employee's generally don't have that type of protection, and the liquidation preferences also decrease the value of the common shares after a down round. So even with a relatively modest decline in overall valuations, a lot of employees are going to end up with worthless options/shares after a down round.
That is the big problem with telecommuting for me - it seems hard to find companies which are willing to pay silicon valley level salaries to people living outside silicon valley, and if you take a pay cut, the savings in rent diminishes drastically.
I suppose it is different when you start in silicon valley and move elsewhere while staying in the same company, rather than just starting out elsewhere. But that is still an concern since your salary gets reset if you ever change companies without moving back to silicon valley.
However, you still need the FAQ to figure out that browser transport isn't supported
See https://groups.google.com/forum/#!topic/grpc-io/5Ic8MKgltwY
Competing on price alone doesn't seem like a good strategy to creating a valuable company.
Have you considered that maybe it doesn't matter? Is his code well tested, easily maintainable, ships with few bugs, and is produced on time? If so, who cares about complexity?
All these small company IPOs are on a separate exchange (the TSX Venture exchange), and if the company gets big enough, they 'graduate' to the main exchange. This works because the regulatory overhead of being public is a lot less in Canada on the TSX Venture exchange - No Sarbanes Oxley!
London has something similar with the AIM.
I think it is a better system than the US model, because it allows anyone to invest in the small companies, not just venture capitalists or people who participate in specialist schemes to buy private company shares.