Latin American startups fail to grant employees stock, a Rest of World survey shows

April 27, 2022

Equity, or the practice of granting stock as part of employee compensation, has become a de facto perk in U.S. tech companies. The practice is a Silicon Valley norm, thanks to the success of early employees at major tech companies that went public, such as the so-called PayPal Mafia, the fabled cohort who worked at the payments company and went on to found some of the world’s biggest tech companies after its exit, from Yelp to YouTube.

“The story of Silicon Valley is employees get to reap the rewards of equity, and that gives them sufficient financial freedom to keep taking more risk investing,” said Juan Pablo Buriticá, senior vice president of engineering at the heavy equipment platform Ritchie Bros. and an advocate for software developers in Latin America. “It creates an incredible upward mobility in society.”

Read the complete article on Rest of World >

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