“Our firm gives amazing exit options to those who join us”
I remember hearing this in a top-tier consulting firm’s presentation. The young 20-year-old me was blown away. So were my friends.
We all aspired to get into this firm because of the prestige, the money and the exit options.
Having prepared for consulting firms for 2 years, getting in and eventually not joining, these instances were of great learning.
The biggest irony was that they marketed leaving them as a reason to join
I think optionality is a drug. It seduces you into believing you are moving ahead. Creating optionality becomes a life objective.
“How can I do this if it closes all my options?”
People optimise for jobs that have exit options. They structure relationships without a necessity to commit. People hoard things because they may be useful someday.
You’re in a state of enjoying all the upside but have no downside.
The drug of optionality is something people begin chasing. Almost forgetting why they created the optionality in the first place, they layer options over each other.
It was a classic path from college. IIT, 2/3 year Consulting, 2/3 year VC, 2 years US MBA, 3 year PE to repay the loan. From 21 to 32, you’re just chasing optionality through brands, giving up a decade of your life.
The drug hooks you more as you grow older. Eventually, the safety net becomes a golden handcuff.
Those who chase optionality do not want to take risks. There is no skin in the game. There is no commitment required. It is what they are implicitly optimizing for.
But as I had talked about in my prior essay on career decisions, non-linear outcomes in life happen by doing non-linear things.
Chasing optionality does not allow for non-linearity.
If you’re looking for “success” in life, you must commit to something. I’ve realized there is no way you know something works if you don’t give it a shot for at least 4-5 years.
Commitment requires staying put, especially when things are down. I remember early on my post-MBA-VC career, many of my friends qualified it as a “dead-end”. There are clearly no exit options once you’ve entered VC, it’s starting up or remaining a VC.
I think I’ve grown immensely as an individual by sacrificing optionality very early in my career. It has allowed me to build depth, understanding and know-how of what I do.
Most importantly, I have learnt patience to stick to my guns and not get seduced by optionality
Stop chasing optionality. Commit to something.
The risk may be worth it.