One of the reasons I wrote Employee 6 Is 54, was to shine a light on how startups work. If you’re over 50 and not a technologist, you most likely cut your career teeth on a traditional company. One where clear hierarchies existed, revenue actually funded the company, and processes were clear-cut after years of development. Startups are a whole different ball game. Take the quiz to see where you fall: From a curious spectator to a boots-on-the-ground insider.
1. When employees need to take a pay cut to make ends meet, it’s commonly called:
a. A drawdown
b. A haircut
c. Pain management
d. Postponement
2. How would you describe the agile process?
a. The company shows strong flexes, to foil competitors
b. A company health plan
c. A way of working with a flat structure
d. A strategy of small iterations of the product rather than major upgrades
3. Slack is:
a. Free time
b. A method of creating extra resources
c. A team communication tool
d. A programming language
4. What does the verb “ship” mean in a tech context?
a. Release new features
b. Work remotely
c. Steady the company
d. Slang for a rocketship of a company
5. What does it mean for your stock options to vest?
a. They are for sale on the secondary market
b. A percentage has been granted to you based on a schedule
c. They will pay out now
d. They will expire
6. Is stock dilution a positive or negative?
a. Generally positive, because there are more shares
b. Generally negative, because shares are worth less
7. What distinguishes Sand Hill Road in Silicon Valley?
a. It’s the location of Facebook HQ
b. It’s the address of many tech billionaires
c. It’s where early computers were made in garages
d. It’s a hub for venture capital offices
8. Who is not an icon in tech?
a. Naval Ravikant
b. Steve Jobs
c. Peter Thiel
d. Kara Swisher
e. Jillian Johnson
9. In the lean startup methodology, what is the moniker for how product and markets are tested?
a. MVP
b. CRM
c. QR Code
d. API
10. Which of these is not a good source of tech news and information?
a. AngelList
b. Techcrunch
c. Hacker News
d. StartupDecoder
Answer Key
1. b – A haircut at a startup is the kind of haircut you really don’t want 2. d – Agile is an iterative process, in contrast to “waterfall” 3. c – Slack is an ubiquitous tool for teams. 4. a – Used in context, one might say, “We’re shipping the new mapping feature on Friday.” 5. b – Options most commonly vest over four years with the company. 6. b – The more slices of pie are cut, the smaller the pieces. 7. c – Sand Hill Rd. runs through Palo Alto, Menlo Park and Woodside and is shorthand for VC-land. 8. e – Jillian is just getting started! 🙂 9. a – MVP is the acronym for Minimum Viable Product. 10. – Trick Question: They’re all good sources of tech information!