In a remarkable tale of fortune and foresight, David Choe, a graffiti artist, made a financial decision in 2005 that would dramatically alter his life. When approached to paint murals at Facebook's first headquarters in Silicon Valley, Choe was initially indifferent about the project, having little belief in the company's future success. However, instead of accepting a cash payment of $60,000 for his services, he opted to take his compensation in the form of company stock.
This decision, unconventional and risky at the time, was influenced by Sean Parker, then-president of Facebook, who persuaded Choe to take the stock option. The value of the stock was uncertain and not particularly appealing to Choe initially; Facebook was then just a burgeoning social platform with a mostly collegiate user base and far from the tech juggernaut it would become.
Choe's work at the Facebook office included vivid, expressive murals that incorporated various elements of life and imagination, contributing significantly to the vibrant and creative environment of the nascent company. His murals captured themes of chaos and action, perhaps reflective of the hectic startup culture at Facebook during its early years.
As Facebook grew exponentially, so did the value of Choe's stock. By the time of Facebook's Initial Public Offering (IPO) in 2012, his shares were estimated to be worth around $200 million, firmly establishing Choe's unexpected financial windfall. The artist, who had been relatively unknown outside of street art circles, was thrust into the spotlight not only for his art but as a symbol of the occasionally serendipitous nature of business decisions in the startup world.
David Choe's story is often cited as a quintessential example of the potential benefits of taking risks and choosing equity over immediate compensation, especially in industries like technology where the ceiling of success can be high. It serves as an inspiration to artists and entrepreneurs alike, underscoring the value of believing in one's work and making judicious, if unconventional, choices.
