by Harjeet Taggar
Triplebyte attempts to improve exercising startup options by extending the window to 10 years.
- startup employees usually have 90 days after leaving a company to exercise their options, but many can't afford the tax burden which results in losing the options
- "This “option extension” gives you more time to exercise your options, which increases the likelihood there will be a liquidity event to help you pay the exercise price and the tax triggered upon exercise."
- "We also see an outsider’s perspective on this, as we talk to many engineers from non-traditional backgrounds who are based outside of the Valley."
- "Employees are often either not sophisticated enough to ask about this issue, or are reluctant to ask a company to incur the expense of paying lawyers to draft new and complicated paperwork."
- "YC will recommend all their startups use these documents going forward. We’re advising Triplebyte candidates to favor companies making this change"