* Company is small enough that certain processes are not well-defined (most importantly, promos + calibrations)
* Drama/office politics at the upper levels can be felt by ICs in small ways
* Company would have to be massively successful at IPO to offset personal financial loss from years of not working at FANG, "millions of dollars at IPO" sounds nice but is the same as working at FANG for years
* "Golden handcuffs" from waiting for options to vest and waiting for IPO, each year spent not working at FANG is a huge financial loss