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Except this will only help large employers like Google and completely screw startups. How do you compute wages when it is paid in terms of equity?

1% of Google was worth nothing in 1995. It's worth a lot today. How do you identify if a startup is the next Google when calculating wages for your auction?

The only winners of your auction will be mega corps who will pay a huge salary upfront with no equity.

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It's not a net loss for startups - the ones past series B can easily price their options. The earlier stage ones will be cut out, that's true. To be honest, any effort to raise wages will cause that effect, and it's no reason to oppose better pay for engineers.

On the other hand, an immigrant, once settled, will accumulate wealth and eventually become a startup founder herself, without as much need for investment. That would be a boon for the earliest stage part of the ecosystem.

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