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HN Discussion: https://news.ycombinator.com/item?id=20452013
Posted by ignaloidas (karma: 152)
Post stats: Points: 156 - Comments: 41 - 2019-07-16T17:23:16Z

\#HackerNews #has #its #own #url #video #youtube
HackerNewsBot debug: Calculated post rank: 117 - Loop: 103 - Rank min: 100 - Author rank: 29
 

Super Mario 64 has been decompiled


HN Discussion: https://news.ycombinator.com/item?id=20418577
Posted by dimillian (karma: 448)
Post stats: Points: 113 - Comments: 28 - 2019-07-12T05:56:15Z

\#HackerNews #been #decompiled #has #mario #super
HackerNewsBot debug: Calculated post rank: 84 - Loop: 88 - Rank min: 80 - Author rank: 26
 

France has approved a digital services tax despite threats of retaliation by US


HN Discussion: https://news.ycombinator.com/item?id=20412260
Posted by adzicg (karma: 1884)
Post stats: Points: 132 - Comments: 125 - 2019-07-11T15:26:07Z

\#HackerNews #approved #despite #digital #france #has #retaliation #services #tax #threats
HackerNewsBot debug: Calculated post rank: 129 - Loop: 114 - Rank min: 100 - Author rank: 55
 

Fed Chair Jerome Powell Has ‘Serious Concerns’ with Facebook Libra Proposal


HN Discussion: https://news.ycombinator.com/item?id=20404480
Posted by ptd (karma: 179)
Post stats: Points: 107 - Comments: 122 - 2019-07-10T17:52:54Z

\#HackerNews #chair #concerns #facebook #fed #has #jerome #libra #powell #proposal #serious #with
HackerNewsBot debug: Calculated post rank: 112 - Loop: 305 - Rank min: 100 - Author rank: 18
 

Apple has pushed a silent Mac update to remove hidden Zoom web server


HN Discussion: https://news.ycombinator.com/item?id=20407233
Posted by coloneltcb (karma: 42809)
Post stats: Points: 255 - Comments: 78 - 2019-07-10T22:25:04Z

\#HackerNews #apple #has #hidden #mac #pushed #remove #server #silent #update #web #zoom
HackerNewsBot debug: Calculated post rank: 196 - Loop: 47 - Rank min: 100 - Author rank: 191
Apple has pushed a silent Mac update to remove hidden Zoom web server
 

U.S. has its wettest 12 months on record again


HN Discussion: https://news.ycombinator.com/item?id=20397024
Posted by infodocket (karma: 2389)
Post stats: Points: 99 - Comments: 125 - 2019-07-09T21:50:11Z

\#HackerNews #again #has #its #months #record #wettest
HackerNewsBot debug: Calculated post rank: 107 - Loop: 197 - Rank min: 100 - Author rank: 39
 

Ross Perot Has Died


HN Discussion: https://news.ycombinator.com/item?id=20392387
Posted by chuckgreenman (karma: 527)
Post stats: Points: 144 - Comments: 59 - 2019-07-09T14:57:04Z

\#HackerNews #died #has #perot #ross
HackerNewsBot debug: Calculated post rank: 115 - Loop: 175 - Rank min: 100 - Author rank: 39
 

The death watch for the X Window System has probably started


HN Discussion: https://news.ycombinator.com/item?id=20376041
Posted by emacsomancer (karma: 1756)
Post stats: Points: 140 - Comments: 155 - 2019-07-07T16:48:51Z

\#HackerNews #death #for #has #probably #started #system #the #watch #window
HackerNewsBot debug: Calculated post rank: 145 - Loop: 74 - Rank min: 100 - Author rank: 18
 

“Evidence-based medicine has been hijacked”: John Ioannidis


HN Discussion: https://news.ycombinator.com/item?id=20359219
Posted by ajna91 (karma: 166)
Post stats: Points: 134 - Comments: 47 - 2019-07-05T01:22:03Z

\#HackerNews #been #evidence-based #has #hijacked #ioannidis #john #medicine
HackerNewsBot debug: Calculated post rank: 105 - Loop: 195 - Rank min: 100 - Author rank: 61
“Evidence-based medicine has been hijacked:” A confession from John Ioannidis

Retraction Watch: “Evidence-based medicine has been hijacked:” A confession from John Ioannidis (Ivan Oransky)

 

Google Cloud (us-east1) has been down for almost 4 hours


HN Discussion: https://news.ycombinator.com/item?id=20338263
Posted by decohen (karma: 119)
Post stats: Points: 235 - Comments: 87 - 2019-07-02T18:57:53Z

\#HackerNews #almost #been #cloud #down #for #google #has #hours #us-east1
HackerNewsBot debug: Calculated post rank: 185 - Loop: 54 - Rank min: 100 - Author rank: 595
 

Ask HN: Has anyone ever been hired from “Who wants to be hired?” threads?


Just a simple question, I have seen stories of people who were hired based on the job postings threads. Never once have I heard of anyone getting anything other than recruiter spam from the Ask HN: Who wants to be Hired threads. I think it might be useful to hear stories either way.

Were you hired after someone contacted you?

Did you receive responses that weren't recruiter-spam from your posts there?

HN Discussion: https://news.ycombinator.com/item?id=20330818
Posted by threwawasy1228 (karma: 539)
Post stats: Points: 121 - Comments: 62 - 2019-07-01T23:43:32Z

\#HackerNews #anyone #ask #been #ever #from #has #hired #threads #wants #who
HackerNewsBot debug: Calculated post rank: 101 - Loop: 91 - Rank min: 100 - Author rank: 53
 

Europe has had five 500-year summers in 15 years


HN Discussion: https://news.ycombinator.com/item?id=20313762
Posted by tegeek (karma: 917)
Post stats: Points: 114 - Comments: 77 - 2019-06-29T17:39:03Z

\#HackerNews #500-year #europe #five #had #has #summers #years
HackerNewsBot debug: Calculated post rank: 101 - Loop: 186 - Rank min: 100 - Author rank: 68
 

“Twitter has an algorithm that creates harassment all by itself”


HN Discussion: https://news.ycombinator.com/item?id=20287887
Posted by cwyers (karma: 9648)
Post stats: Points: 127 - Comments: 56 - 2019-06-26T18:40:35Z

\#HackerNews #algorithm #all #creates #harassment #has #itself #that #twitter
HackerNewsBot debug: Calculated post rank: 103 - Loop: 209 - Rank min: 100 - Author rank: 39
 

Reddit has quarantined /r/The_Donald


HN Discussion: https://news.ycombinator.com/item?id=20287129
Posted by danskeren (karma: 35)
Post stats: Points: 121 - Comments: 150 - 2019-06-26T17:29:14Z

\#HackerNews #has #quarantined #reddit #the donald
HackerNewsBot debug: Calculated post rank: 130 - Loop: 219 - Rank min: 100 - Author rank: 38
 

YouTube should give users a way of knowing if a video has been altered


HN Discussion: https://news.ycombinator.com/item?id=20278713
Posted by spenvo (karma: 2829)
Post stats: Points: 124 - Comments: 58 - 2019-06-25T20:42:06Z

\#HackerNews #altered #been #give #has #knowing #should #users #video #way #youtube
HackerNewsBot debug: Calculated post rank: 102 - Loop: 170 - Rank min: 100 - Author rank: 103
Months ago, YouTube quietly gave creators the ability to alter posted videos. YouTube should give users a way of knowing if a video has been edited.
 

NASA Has Been Hacked


HN Discussion: https://news.ycombinator.com/item?id=20264774
Posted by kevinguay (karma: 121)
Post stats: Points: 266 - Comments: 96 - 2019-06-24T15:50:57Z

\#HackerNews #been #hacked #has #nasa
HackerNewsBot debug: Calculated post rank: 209 - Loop: 377 - Rank min: 100 - Author rank: 57
 

Fast key-value stores: An idea whose time has come and gone


HN Discussion: https://news.ycombinator.com/item?id=20262235
Posted by godelmachine (karma: 4825)
Post stats: Points: 152 - Comments: 60 - 2019-06-24T11:12:33Z

\#HackerNews #and #come #fast #gone #has #idea #key-value #stores #time #whose
HackerNewsBot debug: Calculated post rank: 121 - Loop: 153 - Rank min: 100 - Author rank: 23
 

Google Chrome has become surveillance software. It’s time to switch


HN Discussion: https://news.ycombinator.com/item?id=20254051
Posted by rahuldottech (karma: 800)
Post stats: Points: 153 - Comments: 58 - 2019-06-23T09:00:10Z

\#HackerNews #become #chrome #google #has #its #software #surveillance #switch #time
HackerNewsBot debug: Calculated post rank: 121 - Loop: 30 - Rank min: 100 - Author rank: 64
Review: Google Chrome has become surveillance software. It’s time to switch.
 

A serious security flaw has been found in Windows 10


HN Discussion: https://news.ycombinator.com/item?id=20210113
Posted by iohn (karma: 62)
Post stats: Points: 110 - Comments: 32 - 2019-06-18T05:55:58Z

\#HackerNews #been #flaw #found #has #security #serious #windows
HackerNewsBot debug: Calculated post rank: 84 - Loop: 51 - Rank min: 80 - Author rank: 620
 

Ivan Golunov, an investigative reporter at Meduza, has been arrested in Moscow


HN Discussion: https://news.ycombinator.com/item?id=20131713
Posted by DyslexicAtheist (karma: 12416)
Post stats: Points: 168 - Comments: 22 - 2019-06-08T10:38:21Z

\#HackerNews #arrested #been #golunov #has #investigative #ivan #meduza #moscow #reporter
HackerNewsBot debug: Calculated post rank: 119 - Loop: 156 - Rank min: 100 - Author rank: 38
 

Valve has mutated from a game developer into a financial middleman


HN Discussion: https://news.ycombinator.com/item?id=20098638
Posted by howard941 (karma: 10396)
Post stats: Points: 120 - Comments: 93 - 2019-06-04T19:56:52Z

\#HackerNews #developer #financial #from #game #has #into #middleman #mutated #valve
HackerNewsBot debug: Calculated post rank: 111 - Loop: 265 - Rank min: 100 - Author rank: 45
 

Amazon has exhibited offensive and aggressive behaviors toward open source


HN Discussion: https://news.ycombinator.com/item?id=20070507
Posted by ihsoj (karma: 485)
Post stats: Points: 133 - Comments: 58 - 2019-06-01T18:03:40Z

\#HackerNews #aggressive #amazon #and #behaviors #exhibited #has #offensive #open #source #toward
HackerNewsBot debug: Calculated post rank: 108 - Loop: 69 - Rank min: 100 - Author rank: 44
Lack of leadership in open source results in source-available licenses
 

Google's PageRank patent has expired


HN Discussion: https://news.ycombinator.com/item?id=20067712
Posted by dfabulich (karma: 4144)
Post stats: Points: 150 - Comments: 38 - 2019-06-01T06:49:28Z

\#HackerNews #expired #googles #has #pagerank #patent
HackerNewsBot debug: Calculated post rank: 112 - Loop: 41 - Rank min: 100 - Author rank: 94
 

Tim Cook’s Message to 2019 Graduates: ‘My Generation Has Failed You’


HN Discussion: https://news.ycombinator.com/item?id=19964542
Posted by spking (karma: 9812)
Post stats: Points: 110 - Comments: 113 - 2019-05-20T20:04:25Z

\#HackerNews #2019 #cooks #failed #generation #graduates #has #message #tim #you
HackerNewsBot debug: Calculated post rank: 111 - Loop: 156 - Rank min: 100 - Author rank: 56
 

Bluetooth's Complexity Has Become a Security Risk


HN Discussion: https://news.ycombinator.com/item?id=19956512
Posted by Elof (karma: 1945)
Post stats: Points: 119 - Comments: 72 - 2019-05-20T00:21:48Z

\#HackerNews #become #bluetooths #complexity #has #risk #security
HackerNewsBot debug: Calculated post rank: 103 - Loop: 181 - Rank min: 100 - Author rank: 47
 

Grumpy Cat has died


HN Discussion: https://news.ycombinator.com/item?id=19938054
Posted by ddebernardy (karma: 3088)
Post stats: Points: 143 - Comments: 30 - 2019-05-17T10:14:35Z

\#HackerNews #cat #died #grumpy #has
HackerNewsBot debug: Calculated post rank: 105 - Loop: 114 - Rank min: 100 - Author rank: 27
 

I.M. Pei has died


HN Discussion: https://news.ycombinator.com/item?id=19933688
Posted by SREinSF (karma: 2626)
Post stats: Points: 141 - Comments: 32 - 2019-05-16T21:47:41Z

\#HackerNews #died #has #pei
HackerNewsBot debug: Calculated post rank: 104 - Loop: 69 - Rank min: 100 - Author rank: 60

The New York Times: I.M. Pei, World-Renowned Architect, Is Dead at 102 (By PAUL GOLDBERGER)

 

Facebook has struggled to hire talent since the Cambridge Analytica scandal


HN Discussion: https://news.ycombinator.com/item?id=19931977
Posted by Despegar (karma: 1259)
Post stats: Points: 206 - Comments: 133 - 2019-05-16T19:06:50Z

\#HackerNews #analytica #cambridge #facebook #has #hire #scandal #since #struggled #talent #the
HackerNewsBot debug: Calculated post rank: 181 - Loop: 180 - Rank min: 100 - Author rank: 86
 

YTMND has shut down


HN Discussion: https://news.ycombinator.com/item?id=19917786
Posted by fredley (karma: 7047)
Post stats: Points: 112 - Comments: 32 - 2019-05-15T09:46:36Z

\#HackerNews #down #has #shut #ytmnd
HackerNewsBot debug: Calculated post rank: 85 - Loop: 233 - Rank min: 80 - Author rank: 58
 

What No One Is Telling You About Caster Semenya: She Has XY Chromosomes


HN Discussion: https://news.ycombinator.com/item?id=19831919
Posted by peter_retief (karma: 94)
Post stats: Points: 76 - Comments: 35 - 2019-05-05T09:23:49Z

\#HackerNews #about #caster #chromosomes #has #one #semenya #she #telling #what #you
HackerNewsBot debug: Calculated post rank: 62 - Loop: 14 - Rank min: 60 - Author rank: 3
What No One Is Telling You About Caster Semenya: She Has XY Chromosomes
 

Ask HN: Has there been any academic research into software interviewing?


Some common interview types are algorithm problems, pair programming exercises, take-home assignments, etc.

Has there been any research into the predictive power of such assessments? Is there any evidence that a particular type of question correlates well with job success?

HN Discussion: https://news.ycombinator.com/item?id=19747821
Posted by CSMastermind (karma: 476)
Post stats: Points: 160 - Comments: 104 - 2019-04-25T13:28:24Z

\#HackerNews #academic #any #ask #been #has #interviewing #into #research #software #there
HackerNewsBot debug: Calculated post rank: 141 - Loop: 425 - Rank min: 100 - Author rank: 44
 

AI-powered laundry-folding robot company has filed for bankruptcy


HN Discussion: https://news.ycombinator.com/item?id=19744558
Posted by prostoalex (karma: 74643)
Post stats: Points: 62 - Comments: 102 - 2019-04-25T02:39:29Z

\#HackerNews #ai-powered #bankruptcy #company #filed #for #has #laundry-folding #robot
HackerNewsBot debug: Calculated post rank: 75 - Loop: 336 - Rank min: 60 - Author rank: 78
 

Startup Stock Options – Why a Good Deal Has Gone Bad


A version of this article first appeared in the Harvard Business Review VC’s have just changed the ~50-year old social contract with startup employees. In doing so they may have removed one o…
Article word count: 2448

HN Discussion: https://news.ycombinator.com/item?id=19624164
Posted by furkansahin (karma: 236)
Post stats: Points: 149 - Comments: 100 - 2019-04-10T13:01:43Z

\#HackerNews #bad #deal #gone #good #has #options #startup #stock #why
Article content:

Image/Photo

Posted on April 10, 2019 by steveblank

A version of this article first appeared in the [1]Harvard Business Review

VC’s have just changed the ~50-year old social contract with startup employees. In doing so they may have removed one of the key incentives that made startups different from working in a large company.

For most startup employee’s startup stock options are now a bad deal.

Here’s why.

Why Startups Offer Stock Options
In tech startups stock options were here almost from the beginning, [2]first offered to the founders in 1957 at Fairchild Semiconductor, the first chip startup in Silicon Valley. As Venture Capital emerged as an industry in the mid 1970’s, investors in venture-funded startups began to give stock options to all their employees. On its surface this was a pretty radical idea. The investors were giving away part of their ownership of the company — not just to the founders, but to all employees. Why would they do that?

Stock options for all employees of startups served several purposes:
\* Because startups didn’t have much cash and couldn’t compete with large companies in salary offers, stock options dangled in front of a potential employee were like offering a lottery ticket in exchange for a lower salary. Startup employees calculated that a) their hard work could change the odds and b) someday the stock options they were vesting might make them into millionaires. 
 \* Investors bet that by offering prospective hires a stake in the company’s future growth- with a visible time horizon of a payoff – employees would act more like owners and work harder– and that would align employee interests with the investor interests. And the bet worked. It drove the relentless “do whatever it takes” culture of 20^th century Silicon Valley. We slept under the tables, and pulled all-nighters to get to first customer ship, man the booths at trade shows or ship products to make quarterly revenue – all because it was “our” company. 
 \* While founders had more stock than the other employees, they had the same type of stock options as the rest of the employees, and they only made money when everyone else did (though a lot more of it.) Back then, when Angel/Seed investing didn’t exist, to get the company started, founders put a lot more on the line – going without a salary, mortgaging their homes etc. This “we’re all in it together” kept founders and employees aligned on incentives.

The mechanics of a stock option was a simple idea – you received an option (an offer) to buy a part of the company via common stock options (called [3]ISOs or NSOs) at a low price (the “strike price”.) If the company was successful, you could sell it at a much higher price when the company went public (when its shares were listed on a stock exchange and could be freely traded) or was acquired.

You didn’t get to own your stock options all at once. The stock trickled out over four years, as you would “vest” 1/48^th of the option each month. And just to make sure you were in the company for at least a year, with most stock option plans, unless you stayed an entire year, you wouldn’t vest any stock.

Not everyone got the same amount of stock. The founders got most of the common stock. Early employees got a smaller percentage, and later employees received even a smaller piece – fractions of a percent – versus the double digits the founders owned.

In the 20^th century, [4]the best companies IPO’d in 6-8 years from startup (and in the Dot-Com bubble of 1996-1999 that could be as short as 2-3 years.) Of the four startups I was in that went public, it took as long as six years and as short as three.

One other thing to note is that all employees – founders, early employees and later ones – all had the same vesting deal – four years – and no one made money on stock options until a “liquidity event” (a fancy word to mean when the company went public or got sold.) The rationale was that since there was no way for investors to make money until then, neither should anyone else. Everyone—investors, founders and startup employees—was, so to speak, in the same boat.

Startup Compensation Changes with Growth Capital – 12 Years to an IPO
Much has changed about the economics of startups in the two decades. And [5]Mark Suster of [6]Upfront Capital has a great [7]post that summarizes these changes.

The first big idea is that unlike in the 20^th century when there were two phases of funding startups–Seed capital and Venture capital–today there is a new, third phase. It’s called Growth capital.

Instead of a startup going public six to eight years after it was founded to raise capital to grow the company, today companies can do $50M+ funding rounds, deferring the need for an Initial Public Offering to 10 or more years after a company is founded.

Suster points out that the longer the company stays private, the more valuable it becomes. And if during this time VC’s can hold onto their pro-rata (fancy word for what percentage of the startup they own), they can make a ton more money.

The premise of Growth capital is that if that by staying private longer, all the growth upside that went to the public markets (Wall Street) could instead be made by the private investors (the VC’s and Growth Investors.)

The three examples Suster uses – Salesforce, Google and Amazon – show how much more valuable the companies were after their IPOs. Before these three went public, they weren’t unicorns – that is their market cap was less than a billion dollars. Before these three went public, they weren’t unicorns – that is, their market cap was less than $ 1 billion. Twelve years later, Salesforce’s market cap was $18 billion, Google’s was $162 billion, and Amazon’s was $17 billion.To Suster’s point, it isn’t that startups today can’t raise money by going public, it’s that their investors can make more money by keeping them private and going public later – now 10-12 years. And currently there is an influx of capital to do that.

Founders Rule
The emergence of Growth capital, and pushing an IPO out a decade or more, has led to a [8]dramatic shift in the balance of power between founders and investors. For three decades, from the mid-1970s to the early 2000s, the rules of the game were that a company must become profitable and hire a professional CEO before an IPO.

That made sense. Twentieth-century companies, competing in slower-moving markets, could thrive for long periods on a single innovation. If the VCs threw out the founder, the professional CEO who stepped in could grow a company without creating something new. In that environment, replacing a founder was the rational decision. But 21st century companies face compressed technology cycles, which create the need for continuous innovation over a longer period of time. Who leads that process best? Often it is founders, whose creativity, comfort with disorder, and risk-taking are more valuable at a time when companies need to retain a startup culture even as they grow large.

With the observation that founders added value during the long runup in the growth stage, VCs began to cede compensation and [9]board control to founders. (See the HBR story [10]here.)

Startup Stock Options – Why A Good Deal Has Gone Bad
While founders in the 20^th century had more stock than the rest of their employees, they had the same type of stock options. Today, that’s not true. Rather, when a startup first forms, the founders grant themselves Restricted Stock Awards (RSA) instead of common stock options. Essentially the company sells them the stock at zero cost, and they [11]reverse vest.

In the 20^th century founders were taking a real risk on salary, betting their mortgage and future. Today that’s less true. Founders take a lot less risk, raise multimillion-dollar seed rounds and have the ability to cash out way before a liquidity event.

Early employees take an equal risk that the company will crater, and they often work equally as hard. However, today founders own 30-50 times more than a startup’s early employees. (What has happened in founder compensation and board control has mirrored the growth in corporate CEO compensation. In the last 50 years, corporate CEO pay went from 20 times an average employee to over 300 times their compensation.)

On top of the founder/early employee stock disparity, the VC’s have moved the liquidity goal posts but haven’t moved the vesting goal posts for non-founders. Consider that the [12]median tenure in a startup is 2 years. By year three, 50% of the employees will be gone. If you’re an early employee, today the company may not go public until eight years after you vest.

So why should non-founding employees of startups care? You’ll still own your stock, and you can leave and join another startup. There are four problems:
\* First, as the company raises more money, the value of your initial stock option grant gets diluted by the new money in. (VC’s typically have pro-rata rights to keep their percentage of ownership intact, but employees don’t.) So while the VCs gain the upside from keeping a startup private, employees get the downside. 
 \* Second, when IPO’s no longer happen within the near time horizon of an employee’s tenure, the original rationale of stock options – offering prospective hires a stake in the company’s future growth with a visible time horizon of a payoff for their hard work – has disappeared. Now there’s little financial reason to stay longer than the initial grant vesting. 
 \* Third, as the fair market value of the stock rises (to what the growth investors are paying), the high exercise price isn’t attractive for hiring new employees especially if they are concerned about having to [13]leave and pay the high exercise price in order to keep the shares. 
 \* And finally, in many high valued startups where there are hungry investors, the founders get to sell parts of their vested shares at each round of funding. (At times this opportunity is offered to all employees in a “secondary” offering.) A “secondary” usually (though not always) [14]happens when the startup has achieved significant revenue or traction and is seen as a “leader” in their market space, on the way to an IPO or a major sale

The End of the High-Commitment/High-Performance Work System?
In the academic literature, the work environment of a startup is called a [15]high-commitment/ high-performance work system. This is [16]a bundle of Human Resources startup practices that include hiring, self-managing teams, rapid and decentralized decision-making, on-boarding, flexible work assignments, communication, and stock options. And there is evidence that [17]stock options increase the success of startups.

Successful startups need highly committed employees who believe in the goals and values of the company. In exchange for sharing in the potential upside—and being valued as a critical part of the team, they’re willing to rise to the expectation of putting work and the company in front of everything else. But this level of commitment depends on whether [18]employees perceive these practices to be fair, both in terms of the process and the outcomes.

VCs have intentionally changed the ~50-year-old social contract with startup employees. At the same time, they may have removed one of the key incentives that made startups different from working in a large company.

While unique technology or market insight is one component of a successful startup everyone agrees that attracting and retaining A+ talent differentiates the winners from the losers. In trying to keep companies private longer, but not pass any of that new value to the employees, the VC’s may have killed the golden goose.

What Should Employees Do?
In the past the founders and employees were aligned with the same type of common stock grant, and it was the VCs who got preferential stock treatment. Today, if you’re an employee you’re now are at the bottom of the stock preference pile. The founders have preferential stock treatment and the VC have preferred stock. And you’re working just as hard. Add to that all the other known negatives of a startups– no work-life balance, insane hours, inexperienced management, risk of going out of business, etc.

That said, joining a startup still has a lot of benefits for employees who are looking to work with high performance teams with little structure. Your impact likely be felt. Constant learning opportunities, responsibility and advancement are there for those who take it.

If you’re one of the early senior hires, there’s no downside of asking for the same Restricted Stock Agreements (RSAs) as the founders. And if you’re joining a larger startup, you may want to consider those who are offering restricted stock units (RSUs) rather than common stock.

What Should Investors Do?
One possibility is to replace early employee (first ~10 employees) stock options with the same Restricted Stock Agreements (RSAs) as the founders.

For later employees make sure the company offers “refresh” option grants to longer-tenured employees. Better yet, offer restricted stock units (RSUs). Restricted Stock Units are a company’s promise to give you shares of the company’s stock. Unlike a stock option, which always has a strike (purchase) price higher than $0, an RSU is an option with a $0 purchase price. The lower the strike price, the less you have to pay to own a share of company stock. Like stock options, RSU’s vest.

But to keep employees engaged, they ought to be allowed buy their vested RSU stock and sell it every time the company raises a new round of funding.

Lessons Learned
\* Venture Capital structures were set up for a world in which successful companies exited in 6-8 years and didn’t raise too much capital 
 \* Venture capital growth funds are now giving startups the cash they would have received at an IPO 

      \* “Growth Capital” moved the need for an IPO out another five years 
      \* This allows VCs to capture the increase in market cap in the company 
      \* It may have removed the incentive for non-founders to want to work in a startup versus a large company 
      \* As stock options with four-year vesting are no longer a good deal 

 \* Investors and Founders have changed the model to their advantage, but no has changed the model for early employees 

      \* VCs need to consider a new stock incentive model – RSA’s for the first key hires and then RSU’s – Restricted Stock Units for everyone else 

 \* Large companies now have an opportunity to attract some of the talent that previously went elsewhere

Filed under: [19]Venture Capital |

References

Visible links
1. https://hbr.org/2019/04/how-to-make-startup-stock-options-a-better-deal-for-employees
2. http://www.financialpolicy.org/dscprimerstockoption2a.htm
3. http://www.startupcompanylawyer.com/2008/03/05/whats-the-difference-between-an-iso-and-an-nso/
4. https://arxiv.org/pdf/1711.00661.pdf
5. https://www.linkedin.com/in/marksuster
6. https://upfront.com/
7. https://bothsidesofthetable.com/a-deep-dive-into-what-has-really-changed-in-venture-capital-f5d225f7f8
8. https://hbr.org/2017/11/when-founders-go-too-far
9. https://hbr.org/2017/11/when-founders-go-too-far
10. https://hbr.org/2017/11/when-founders-go-too-far
11. https://500.co/founder-equity-101/
12. https://carta.com/blog/employment-tenure-startups/
13. https://employeestockoptions.com/exercise-loan/
14. https://medium.com/@rizstanford/secondary-sales-in-vc-backed-startups-a-quick-primer-for-entrepreneurs-bdc25ea7f39a
15. https://nscpolteksby.ac.id/ebook/files/Ebook/Business%20Administration/ARMSTRONGS%20HANDBOOK%20OF%20HUMAN%20RESOURCE%20MANAGEMENT%20PRACTICE/13%20-%20High-perfomance%20Work%20Systems.pdf
16. https://libjournals.mtsu.edu/index.php/jsbs/article/view/611/658
17. https://digitalcommons.ilr.cornell.edu/cgi/viewcontent.cgi?article=1098&context=workingpapers
18. https://core.ac.uk/download/pdf/140215.pdf
19. https://steveblank.com/category/venture-capital/

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An amphibian fungus has become “the most deadly pathogen known”


As a threat to wildlife, an amphibian fungus has become “the most deadly pathogen known to science.”
Article word count: 1115

HN Discussion: https://news.ycombinator.com/item?id=19515362
Posted by jchanimal (karma: 789)
Post stats: Points: 144 - Comments: 68 - 2019-03-28T18:57:54Z

\#HackerNews #amphibian #become #deadly #fungus #has #known #most #pathogen #the
Article content:




matter

As a threat to wildlife, an amphibian fungus has become “the most deadly pathogen known to science.”

Image
The mossy red-eyed frog is one of hundreds of species threatened by a virulent fungus that may be responsible for 90 extinctions in the past 50 years.CreditCreditJonathan E. Kolby/Honduras Amphibian Rescue & Conservation Center
[1]Carl Zimmer

On Thursday, 41 scientists published the first worldwide analysis of a fungal outbreak that’s been wiping out frogs for decades. The devastation [2]turns out to be far worse than anyone had previously realized.

Writing in the journal Science, the researchers conclude that populations of more than 500 species of amphibians have declined significantly because of the outbreak — including at least 90 species presumed to have gone extinct. The figure is more than twice as large as earlier estimates.

“That’s fairly seismic,” said Wendy Palen, a biologist at Simon Fraser University who is a co-author of [3]a commentary accompanying the study. “It now earns the moniker of the most deadly pathogen known to science.”

[[4]Like the Science Times page on Facebook. | Sign up for the [5]Science Times newsletter.]

Scientists first noticed in the 1970s that some frog populations were declining quickly; by the 1980s, some species appeared to be extinct. The losses were puzzling, because the frogs were living in pristine habitats, unharmed by pollution or deforestation.

In the late 1990s, researchers discovered that frogs in both Australia and Panama [6]were infected with a deadly fungus, which they named Batrachochytrium dendrobatidis — Bd, for short.

The fungus turned up in other countries, but studies of its DNA suggest that Bd [7]originated on the Korean Peninsula. In Asia, amphibians seem impervious to Bd, but when it got to other parts of the world — probably via the international trade in pet amphibians — the pathogen reached hundreds of vulnerable species.

Amphibians are infected with Bd by contact with other animals or by spores floating in the water. The fungus invades skin cells and multiplies. An infected frog’s skin will start to peel away as the animal grows sluggish. Before it dies, a frog may manage to hop its way to a new stream or pond, spreading the fungus further.

In 2007, researchers speculated that Bd [8]might be responsible for all known declines of frogs that had no other apparent cause — about 200 species. For the most part, however, scientists studied Bd at the local level, looking at its impacts on particular species in particular places.

“We knew that frogs were dying all around the world, but no one had gone back to the start and actually assessed what the impact was,” said Benjamin Scheele, an ecologist at Australian National University and the lead author of the new study.

In 2015, Dr. Scheele and his colleagues gathered data from over 1,000 published papers on Bd, and traveled around the world to meet with experts and hear their unpublished observations.

Not only did the team analyze data on living amphibians, but they also looked at data from museums, where scientists found Bd DNA embedded in preserved specimens tucked away in cabinets.

The new study showed that some amphibians are at greater risk than others.

The fungus thrives in cool, moist conditions. As a result, frogs that live in cloud forests on mountainsides have been hit particularly hard.

Image
Espada’s marsupial frog, near the Gocta Waterfall in the Chachapoyas province of Peru.CreditTiffany Kosch

Big frogs are at a greater risk, too, possibly because they don’t multiply as quickly as small ones.

Dr. Scheele and his colleagues identified 501 species in decline, far greater than the previous estimate of 200. Certain factors once thought to account for the decimation of frog populations — like climate change and deforestation — are not the greatest threats, the scientists found.

“A lot of those hypotheses have been discredited,” said Dr. Scheele. “And the more we find out about the fungus, the more it fits with the pattern.”

As it turns out, Bd wiped out some species long before it was discovered. Only by going back to museum specimens were scientists able to estimate the toll. “It’s scary that so many species can become extinct without us knowing,” said Dr. Scheele.

The decimation of frogs peaked in the 1980s, the researchers found, a decade before the discovery of Bd. Today, 39 percent of the species that suffered population declines in the past are still declining. Twelve percent are showing signs of recovery, possibly because natural selection is favoring resistant animals.

As dire as the study’s results turned out to be, Dr. Scheele is guardedly optimistic about future wildlife outbreaks. The element of surprise may have had a lot to do with Bd’s devastating success.

“It wasn’t expected or predicted, and so it took the research community a long time to catch up,” said Dr. Scheele.

In 2013, researchers discovered that a related fungus was attacking fire salamanders in Belgium. Called Batrachochytrium salamandrivorans (Bsal for short), it seemed [9]poised to do to salamanders what Bd has done to frogs.

But this time, things are playing out differently.

Researchers discovered the outbreak and identified Bsal quickly. They immediately began running experiments to understand the threat it posed. Thanks to [10]barriers to trade now in place, Bsal has yet to threaten another species anywhere.

“We’ve learned, and we’re dealing with it better,” said Dr. Scheele. “I guess the question is always, ‘Are we doing enough?’ And that’s debatable.”

There’s still plenty of reason to worry about outbreaks to come. Bd has yet to reach New Guinea, home to a wealth of amphibian species found nowhere else on Earth.

If a Bd-infected frog got to either place — through the pet trade, or as an accidental stowaway — the fungus would have a vast number of vulnerable hosts to attack.

“It could be a meltdown of the ecosystems over there,” said Daniel Greenberg, a graduate student at Simon Fraser University and co-author of the Science commentary.

The loss of frogs can alter entire ecosystems.

Without tadpoles to guzzle algae, blooms may choke streams. Without frogs to eat insects, some disease-carrying species may become more common. Birds and other predators that eat frogs have to find alternatives.

Scientists are not even resting easy about the species that have emerged intact from the Bd assault. Another strain of Bd, or some different species of fungus altogether, may prove to be even deadlier.

“It’s just Russian roulette, with moving pathogens around the world,” said Dr. Scheele.

Correction: March 28, 2019

An earlier version of this article, using information provided by a researcher, misstated the extent of the spread of a fungus that kills frogs. It has spread to Madagascar; it is not the case that the island country remains free of the fungus.

Carl Zimmer writes the [11]“Matter” column. He is the author of thirteen books, including “She Has Her Motherʼs Laugh: The Powers, Perversions, and Potential of Heredity.” [12]@carlzimmer • [13]Facebook

References

Visible links
1. https://www.nytimes.com/by/carl-zimmer
2. http://science.sciencemag.org/cgi/doi/10.1126/science.aav0379
3. http://science.sciencemag.org/cgi/doi/10.1126/science.aax0002
4. http://on.fb.me/1paTQ1h
5. http://nyti.ms/1MbHaRU
6. https://www.pnas.org/content/95/15/9031
7. https://www.nytimes.com/2018/05/10/science/frogs-fungus-korea.html?module=inline
8. https://link.springer.com/article/10.1007/s10393-007-0093-5
9. https://www.nytimes.com/2015/08/04/science/importing-both-salamanders-and-their-potential-destruction.html?module=inline
10. https://www.nytimes.com/2016/01/13/science/us-restricts-movement-of-salamanders-for-their-own-good.html?module=inline
11. https://www.nytimes.com/column/matter
12. https://twitter.com/carlzimmer
13. https://www.facebook.com/carlzimmerauthor

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The FCC Has Fined Robocallers $208M. It’s Collected $6,790


America’s telecommunications regulators have levied hefty financial penalties against illegal robocallers and demanded that bad actors repay millions to their victims. But years later, little money…
Article word count: 106

HN Discussion: https://news.ycombinator.com/item?id=19514201
Posted by mudil (karma: 5750)
Post stats: Points: 165 - Comments: 101 - 2019-03-28T17:06:53Z

\#HackerNews #208m #6790 #collected #fcc #fined #has #its #robocallers #the
Article content:




Robocalls—those pre-recorded, unwanted phone calls—are at a record high. WSJ’s Joanna Stern explains how you can fight back against them, and why it matters. Photo: Drew Evans/The Wall Street Journal. (Originally published June 28, 2016)

America’s telecommunications watchdogs have levied hefty financial penalties against illegal robocallers and demanded that bad actors repay millions to their victims. But years later, little money has been collected.

Since 2015, the Federal Communications Commission has ordered violators of the Telephone Consumer Protection Act, a law governing telemarketing and robodialing, to pay $208.4 million. That sum includes so-called forfeiture orders in cases involving robocalling, Do Not Call Registry and telephone solicitation...

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Our Chess Champion Has a Home


The 8-year-old refugee who last week was thrilled to have a trophy suddenly has so much more.
Article word count: 871

HN Discussion: https://news.ycombinator.com/item?id=19478401
Posted by diego_moita (karma: 2609)
Post stats: Points: 115 - Comments: 73 - 2019-03-24T19:53:40Z

\#HackerNews #champion #chess #has #home #our
Article content:




The 8-year-old refugee who last week was thrilled to have a trophy suddenly has so much more.

[1]Nicholas Kristof

By [2]Nicholas Kristof

Image
Tanitoluwa Adewumi in his familyʼs new apartment.CreditCreditChristopher Lee for The New York Times

Tanitoluwa Adewumi, age 8, skidded around the empty apartment, laughing excitedly, then leapt onto his dad’s back. “I have a home!” he said in wonderment. “I have a home!”

A week ago, the boy was homeless, studying chess moves while lying on the floor of a shelter in Manhattan. Now Tani, as he is known, has a home, a six-figure bank account, scholarship offers from three elite private schools and [3]an invitation to meet President Bill Clinton.

“I think I am still dreaming,” said Tani’s dad, Kayode Adewumi. “I hope I don’t wake up.”

[4]I wrote in my column last weekend about Tani as a reminder of the principle that talent is universal, even if opportunity is not. A Nigerian refugee who had learned chess only a bit more than a year earlier, he had just defeated kids from elite private schools to win the New York state chess championship for his age group. He lugged a trophy nearly as big as he is back to the homeless shelter.

Now the story gets even better.

After my column about this hard-working family, [5]a GoFundMe drive raised more than $200,000 for Tani, his parents and his brother. A half-dozen readers offered housing — in a couple of cases, palatial quarters. Immigration lawyers offered pro bono assistance to the Adewumis, who are in the country legally and seeking asylum. Three film companies are vying to make movies about Tani.

Image
The Adewumi family: Tani and his brother, Austin, and their parents, Kayode and Oluwatoyin.CreditChristopher Lee for The New York Times

“I want my mom’s cooking again!” Tani mused as he explored the apartment. It was bare, but another donor had offered furniture, sheets and towels. Someone else was sending 100 chess books.

Heartfelt thanks to all my readers for this generosity: I truly have the best readers.

And now the story gets even better.

The Adewumis have decided that they will not spend a cent of the $200,000 GoFundMe money on themselves. They will take out a 10 percent tithe and donate it to their church, which helped them while they were homeless, and the rest will be channeled through a new Tanitoluwa Adewumi Foundation to help African immigrants who are struggling in the United States the way they were a week ago.

“Anybody who is coming from Africa who is in the position we were in, we will help them,” Mr. Adewumi said, acknowledging that details need to be worked out.

I asked them how they could turn down every penny of such a huge sum. Didn’t they want a celebration dinner? New iPhones? A vacation?

“I’m a hardworking guy,” Mr. Adewumi explained. He has two jobs: He drives for Uber with a rented car and [6]sells real estate through Brick & Mortar. Someone has now offered him a free car so that he can keep more of the money he makes driving, and Tani’s mom was just offered a job as a health care aide at a hospital.

I asked Tani if he was O.K. with seeing the $200,000 disappear. He shrugged. “I want to help other kids,” he said. “I don’t mind.”

CreditChristopher Lee for The New York Times

Surely, I pressed him, there was some material object he coveted. There was a long silence. “Maybe a computer,” he acknowledged.

The family was tempted by the offers of full scholarships at top private schools. But Tani and his parents decided that while he might accept such a scholarship for middle school, he would be loyal and stick with the public elementary school, P.S. 116, that taught him chess and waived his fees for the chess club.

“This school showed confidence in Tanitoluwa,” his mom, Oluwatoyin Adewumi, told the P.S. 116 principal, Jane Hsu. “So we return the confidence.” And then, overcome with emotion, the mom and the principal hugged.

There’s a risk that a triumph like this leaves the impression that charity is the solution rather than a way to fill gaps: Fundamentally we need comprehensive systems in place to support needy kids. We would never build a bridge or subway with volunteers and donations, so why entrust an even more urgent cause — homeless children — to charity?

Tani thrived because everything fell into place: a good school, a dedicated chess teacher and devoted parents committed to taking their son to every chess practice. The challenge is to replicate that supportive environment for all the other Tanis out there with public services and private philanthropy alike.

One challenge I face is that readers often want to donate just to a particular individual I write about, without addressing the larger social problem. So it’s thrilling to see Tani and his parents use their good fortune to help other anonymous kids in need. In that, there’s a lesson for all of us.

“God has already blessed me,” Mr. Adewumi told me. “I want to release my blessing to others.”

Nicholas Kristof has been a columnist for The Times since 2001. He has won two Pulitzer Prizes, for his coverage of China and of the genocide in Darfur. You can sign up for his free, twice-weekly [7]email newsletter and follow him on [8]Instagram. [9]@NickKristof • [10]Facebook

References

Visible links
1. https://www.nytimes.com/column/nicholas-kristof
2. https://www.nytimes.com/column/nicholas-kristof
3. https://twitter.com/BillClinton/status/1108099328718057473
4. https://www.nytimes.com/2019/03/16/opinion/sunday/chess-champion-8-year-old-homeless-refugee-.html?module=inline
5. https://www.gofundme.com/just-tani
6. https://www.brickandmortar.com/thecompany#last-name
7. http://www.nytimes.com/newsletters/nicholas-kristof/
8. https://www.instagram.com/nickkristof/
9. https://twitter.com/NickKristof
10. https://www.facebook.com/kristof

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The New York Times: Opinion | Our Chess Champion Has a Home (By NICHOLAS KRISTOF)

 

4chan has been blocked in NZ “for security reasons”


HN Discussion: https://news.ycombinator.com/item?id=19400795
Posted by EE84M3i (karma: 236)
Post stats: Points: 113 - Comments: 130 - 2019-03-15T15:53:51Z

\#HackerNews #4chan #been #blocked #for #has #reasons #security
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Rackspace announces it has laid off 200 workers


Rackspace, the hosted private cloud vendor, let go around 200 workers or 3 percent of its worldwide workforce of 6,600 employees this week. The company says that it’s part of a recalibration where it…
Article word count: 321

HN Discussion: https://news.ycombinator.com/item?id=19288905
Posted by doppp (karma: 14587)
Post stats: Points: 93 - Comments: 71 - 2019-03-02T12:14:21Z

\#HackerNews #200 #announces #has #laid #off #rackspace #workers
Article content:




[1]Rackspace, the hosted private cloud vendor, let go around 200 workers or 3 percent of its worldwide workforce of 6,600 employees this week. The company says that it’s part of a recalibration where it is trying to find workers who are better suited to their current business approach.

A [2]Rackspace spokesperson told TechCrunch that it is “a stable and profitable company.” In fact, it hired 1,500 employees in 2018 and currently has 200 job openings. “We continue to invest in our business based on market opportunity and our customers’ needs – we take actions on an ongoing basis in some areas where we are over-invested and hire in areas where we are under invested,” a company spokesperson explained.

The company, which went public in 2008 and [3]private again for $4.3 billion in 2016, has struggled in a cloud market dominated by giants like Amazon, Microsoft and Google, but according to Synergy Research, a firm that keeps close watch on the cloud market, it is one of the top three companies in the Hosted Private Cloud category.

It’s worth noting that the top company in this category is IBM, and Rackspace could be a good target for Big Blue if it wanted to use its checkbook to get a boost in market share. IBM is in third or fourth place in the cloud infrastructure market, depending on whose numbers you look at, but it could move the needle a bit by buying a company like Rackspace. Neither company is suggesting this, however, and [4]IBM bought Red Hat at the end of last year for $34 billion, making it less likely it will be in a spending mood this year.

For now the layoffs appear to be a company tweaking its workforce to meet current market conditions, but whatever the reason, it’s never a happy day when people lose their jobs.
[5]Rackspace to go private after $4.3B acquisition by private equity firm Apollo

[6]IFrame

References

Visible links
1. http://rackspace.com/
2. https://crunchbase.com/organization/rackspace
3. https://techcrunch.com/2016/08/26/rackspace-to-go-private-after-4-3b-acquisition-by-private-equity-firm-apollo/
4. https://techcrunch.com/story/ibm-acquires-red-hat/
5. https://techcrunch.com/2016/08/26/rackspace-to-go-private-after-4-3b-acquisition-by-private-equity-firm-apollo/
6. https://techcrunch.com/2016/08/26/rackspace-to-go-private-after-4-3b-acquisition-by-private-equity-firm-apollo/embed/#?secret=5SATuxeIqT

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Rackspace announces it has laid off 200 workers
 
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