12,232 karma · joined October 5, 2008
gmail » teej.murphy@
current » Linear
prior » Downlink (YC W24), Chaturbate, Minted, Zynga, MinoMonsters
“I (name the individual accountable) will give you an update at 12:00 PT (name a time) as an update to this post (name the communication channel) with the current status and latest information on this issue (don’t promise time to resolution, just time to info).”
Simple, clear, concrete, and unambiguous. I had hoped that Firefox had better communication procedures in the event of global-impact P1 issues.
No one is dying because I own and drive this car today. Someone might’ve died mining the lithium for my Tesla however.
This is all to say that your comment is reductive.
YC investment: $120,000 [0]
YC shares: 1,050,000 [1]
PD market cap: $1.3 billion [2]
PD share price: $20.23
YC investment value: $21.25 million
YC ROI: 175x
This is a ~4x return on the S10 batch. In that same batch you have Stripe, which looks like it could be a 3000x+ return for YC.Notes
[0] - This could be less, I don't remember the dates YC started messing with this.
[1] - The 3 founders hold 13,670,067 shares, or 91% of 15M shares. I assume YC has 7% of 15M.
[2] - I assume their Sep 2018 raise valuation as the price. I'm not confident the public will value this the same.
I don't know how common this is in S-1 filings but it stuck out to me. Support is often viewed as a cost center, I love that PagerDuty makes it such a high priority.
Edit: After some research, it turns out this is common. Docusign, Dropbox, Okta, Zuora, and MongoDB all have this statement exactly or similar.
Human interest stories are the most common posts to use the format but educational stuff like this is definitely seen too.
$90M is definitely enough to be more than comfortable the rest of your life. But a $5B payout would have meant they could start a VC firm, invest in the next several generations of startups, partially self-fund something ambitious like a Space-X, start funded non-profits, etc.
It turns out, the folks who planned out the endowment were very thoughtful. Check out this great read on the motivations, challenges, and plans of the endowment. https://meta.wikimedia.org/wiki/Endowment_Essay
On top of that, assuming they will have zero effective cost increases is wrong. There is so much growth left in content and users. How much has Wikipedia grown in the last five years? How well do they cover non English languages? What if they had the same size article base in English as every other language? What if every internet connected user could use Wikipedia?
Saying we could freeze Wikipedia costs in 2019 based on $90M in the bank is shortsighted.
The page on The Wikimedia Endowment is actually quite interesting if you're into finance and investing - https://meta.wikimedia.org/wiki/Wikimedia_Endowment.