from Gergely Orosz | by Gergely Orosz

Startup job ad: - Get shit done - No waterfall - Revolutionize banking! Reality: - You need to report what you did every day to your manager, in writing - You’re not allowed to work outside, even when WFH - No equity - Non-paid noncompete we’ll try to enforce

This is a company valued >$1B, with incredible attrition rates for employees (many quit after 6 months, though lots of new grads who don’t know alternatives stay for years) My theory is these places succeed despite terrible practices, thanks to good product positioning.

“We pay less than banks do because we’re not a bank. We’re a startup who gets shit done. No red tape.” Later: “Team, it’s finally sunny, I’ll work sit out in the sun & work on my laptop.” CEO to all: “NO OUTSIDE WORK IS THE RULE. Get back to your desk inside.” Real story.