SleepyPanda
SleepyPanda

Stay away from ESOPs tuchiyapa :)

One of my friends was working with Unacademy, & contributed well in Business/Revenue - first got into a bad culture and decided to exit.

Joined another company and got back to back notices from the last org and also a notice on Cancellation of vested ESOPs. Kat gaya bhai ka!

Stay aware guys :)

17mo ago
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MagicalQuokka
MagicalQuokka

Indian ESOPs are a big no. You have a better chance of hitting a multibagger stock than getting even 1x returns on the total ESOP value.

99% Indian companies will scam you out of your ESOPs or make it worthless for you to exercise them.

SleepyPanda
SleepyPanda

True, at least for the new age of startups! Or the one where the CEO doesn't hold any control!

SnoozyPotato
SnoozyPotato

Yes. The early engineers are given less than O.05%. And a lot of crap is said about transparency and how valuable everyone is.

ZestyDonut
ZestyDonut

Why notices from last org?

SleepyPanda
SleepyPanda

Non Compete Clause in the appointment letter 🤩

ZestyDonut
ZestyDonut

🥹

WigglyPanda
WigglyPanda

People who haven’t made nay money off ESOPs will always disbelieve it. Just like how older generations thought about stock market as gambling. LOSERS are the ones who don’t take a bet.

As a matter of fact, I had my esops liquidated by Unacademy while I worked there and very proudly so. It is the ONLY wealth creation instrument a salaried person can have, so please don’t disregard it or else forget about early retirement or entrepreneurship or massive upgrade in standard of living.

SleepyPanda
SleepyPanda

I was not talking about making money out of ESOPs, what I posted was about the culture Unacademy is creating & how they are cancelling the vested ESOPs!

WigglyPanda
WigglyPanda

Unacademy’s policies related to ESOPs are very transparent and just.
If a cancellation must have happened, there would be specific reasons for it.
Obviously if a senior leader (assuming senior because of vested ESOPs of good amount) will join a rival company by not honouring the non-compete then actions will have consequences.
Non-compete is not enforced by law in India but good faith can be expected by all, especially people whom a company is making wealthy through equity representation.

GigglyUnicorn
GigglyUnicorn
Groww17mo

Unless the esops are of Flipkart or phonepe. Or possibly cred too were the buyback is done regularly

WigglyPanda
WigglyPanda

Exactly. Yaha Bellandur/ORR ke property rates badh gaye hai Flipkart ke ESOPs/shares buyback se aur logo ko abhi bhi equity ownership mazaak lagta hai.
I only regret not working for Flipkart when I started my career.

SleepyPanda
SleepyPanda

But you can't compare Flipkart with Unacademy, poles apart!

SquishyNarwhal
SquishyNarwhal
Zepto17mo

On what basis did they cancel it?

SleepyPanda
SleepyPanda

Violation of Clauses in the appointment letter! Non-compete, etc!

WobblyBagel
WobblyBagel

Aren't non competes non enforceable? How can companies cancel ESOPS based on something that's non enforceable?

JumpyWalrus
JumpyWalrus

Say Hutiyapa - in Persian.

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