I was interested in applying to Oxide a few months back. They ask candidates who reach interviews to provide at least 9 hours of availability, normally arranged as three separate 3-hour blocks. Each block contains three 1-hour interview slots, so the standard schedule is effectively nine one-hour conversations. Not including the follow ups.
I got another great offer after just 1 interview that I took, so I never went through their process, but it looks very exhausting to me. Being rejected after investing so much time must also feel awful.
IME those kinds of interviews are a waste for the applicant because you have to do your 5-10 minute elevator pitch and 10-15 minute dive into your experience 9 separate times. It’s terribly exhausting.
On the other hand I like meeting a lot of people that I’d be working with. It’s nice to start day 1 knowing who people are.
In our interviews, the interviewer has read the applicant's detailed written materials, and the candidate has received the interviewer's materials from when they applied. So there is no elevator pitch, no walking through resume, no getting to know you. Just a conversation.
Yep, I had two interview processes that did this... 8 times, at the same time.
Both said no after 8 interviews because of one person in the process who didn't like me, everyone else supposedly were on board.
It genuinely took me another year to even consider applying to another job it was so demoralizing.
I read their "we will respond to every application, even if it has to be a brief non-specific rejection" and thought that sounded like a great policy that I wish more companies would follow. It's been 6 months now and I never heard anything from them, so that's a little disappointing.
They waste very large amounts of candidate time on an essay like assignment before you get to talk to someone.
Truth be told they already know from your resume if you’d be worth interviewing. That’s enough , and maybe a OA.
The best process I’ve experienced, was a quick conversion with a few technical questions, then I can start as a contractor. If it works out it works, if it doesn’t that’s ok too.
No need for me to write a long paper, when HR probably took one look at my resume and sent out a rejection.
> Well, yes, it is: most startups don’t pay income tax because most startups aren’t profitable! Indeed, startups seek investment because they have costs long before they have revenue, let alone gross profit — let alone income. This is by design: profitability is a lagging indicator of product/market fit (the adventure in venture capital is investing long before the business has materialized!).
Venture Capital is one of the greatest engines of growth, and fitting for the vast majority of early stage tech companies, it is interesting to see how changes in business economics may result in niche, differing capital structures. Eg. Companies which sell RL envs have vastly different economics than a food delivery app.
They’re raising from a position of strength for capital they don’t need. As far as I know, they haven’t published their valuation, but it is very possible they’re giving up little equity. Plus, giving up some equity to meet customer demand is generally a good idea as more revenue means higher valuation.
A confusing thing about fundraising and dilution is that the new shares don’t take away value from existing shareholders.
If each share is worth $1 at the valuation used in the raise, then an investor adding $100 million gets 100 million shares for it. The shares aren’t taken away from anyone, they're issued in exchange for the capital.
So ideally the dilution is neutral to the value of the equity. In practice this is highly variable because the valuations are fuzzy numbers used for the raise, but you get the idea.
If a company can get the same growth without raising, that would be better because the proportional ownership stays higher. However, the reason companies give equity in exchange for capital is that they need the cash for growth and can’t get it on better terms anywhere else.
That's always struck me as a very idealistic way of looking at dilution.
Another way to look at it, is that it's partly locking in the value of those shares at the time of dilution, effectively reducing the variance of the future value of the existing shares.
As a thought experiment:
If you're holding a lottery ticket that you bought, and someone comes along, says they're going to buy 1,000 lottery tickets, but promises to share any winnings with you pro-rata. You don't really have a choice to say no.
You'd probably be really annoyed, if your ticket is a winning ticket, you split the jackpot and don't even get a life-changing amount of money back for it. If any of theirs wins, you likewise get a modest amount, but you weren't bothered about losing £1.
It's an expectation neutral thought experiment, but reducing variance isn't always wanted!
Awesome company, awesome products. I wish they pushed AI less in their socials, like we get it computers and servers means ai workloads. It just devalues their whole image in my opinion. Hope you all do continue to do awesome things and don't become evil.
I used to think that Oxide's business model sucks in the face of the hyperscalers. When AWS/GCP/Azure "just works" and is generally reliable and cheap, why would I go through the trouble of buying my own computers? Well the past 5 years have been a constant decline towards more concentration of power, lack of care for their customers, and degradation in quality in general. AI is of course accelerating this decline - selling de-slopped products is now a huge competitive advantage. All the best luck to Oxide.
Also time for the quarterly reminder that On the Metal / Oxide and Friends is an excellent podcast if you're into Rust and/or EE. Bryan and co. do such a good job keeping the technical discussions entertaining. Seems like an awesome place to work, too.
Congrats! Now it does get tricky - because once you tempt investors with a profit they start worrying about your spending and expect you to keep a profit.
Sounds like a great company raising money for the right reasons.
Oxide continues to be one of the most inspiring companies in the space, I was just encouraging someone to apply there yesterday. :)
Yes they seem to be doing everything right so far. Inspiring and exciting.
They have one of the best hiring processes in the game. Just all around great people who care.
I was interested in applying to Oxide a few months back. They ask candidates who reach interviews to provide at least 9 hours of availability, normally arranged as three separate 3-hour blocks. Each block contains three 1-hour interview slots, so the standard schedule is effectively nine one-hour conversations. Not including the follow ups.
I got another great offer after just 1 interview that I took, so I never went through their process, but it looks very exhausting to me. Being rejected after investing so much time must also feel awful.
Right...so best interview process in the game for employers, not so much employees.
IME those kinds of interviews are a waste for the applicant because you have to do your 5-10 minute elevator pitch and 10-15 minute dive into your experience 9 separate times. It’s terribly exhausting.
On the other hand I like meeting a lot of people that I’d be working with. It’s nice to start day 1 knowing who people are.
In our interviews, the interviewer has read the applicant's detailed written materials, and the candidate has received the interviewer's materials from when they applied. So there is no elevator pitch, no walking through resume, no getting to know you. Just a conversation.
https://rfd.shared.oxide.computer/rfd/0003
Yep, I had two interview processes that did this... 8 times, at the same time. Both said no after 8 interviews because of one person in the process who didn't like me, everyone else supposedly were on board.
It genuinely took me another year to even consider applying to another job it was so demoralizing.
Nine hours is crazy
I read their "we will respond to every application, even if it has to be a brief non-specific rejection" and thought that sounded like a great policy that I wish more companies would follow. It's been 6 months now and I never heard anything from them, so that's a little disappointing.
No they don’t.
They waste very large amounts of candidate time on an essay like assignment before you get to talk to someone.
Truth be told they already know from your resume if you’d be worth interviewing. That’s enough , and maybe a OA.
The best process I’ve experienced, was a quick conversion with a few technical questions, then I can start as a contractor. If it works out it works, if it doesn’t that’s ok too.
No need for me to write a long paper, when HR probably took one look at my resume and sent out a rejection.
if these guys just capture 1% of spend that's on AWS, Azure & Google Cloud they will still be very big.
Love the photo caption "FIGURE 1. US BEING AS EXCITED AS YOU CAN BE PAYING TAXES".
Oxide are so good at comms.
And yet that seems like a caption Bryan could have written…
Is this the new IBM?
> Well, yes, it is: most startups don’t pay income tax because most startups aren’t profitable! Indeed, startups seek investment because they have costs long before they have revenue, let alone gross profit — let alone income. This is by design: profitability is a lagging indicator of product/market fit (the adventure in venture capital is investing long before the business has materialized!).
Venture Capital is one of the greatest engines of growth, and fitting for the vast majority of early stage tech companies, it is interesting to see how changes in business economics may result in niche, differing capital structures. Eg. Companies which sell RL envs have vastly different economics than a food delivery app.
with agentic coding lock in @ AWS and Google Cloud is evaporating fast
a few days ago I migrated a non-trivial firestore app to sqlite
10x less latency (10x requests / second)
migration took a few minutes (+ 2 days of prep)
just a few months ago that would have been infeasible or at least nerve wracking
With series B,C and now D, makes one wonder; will there be any shares left for the original team?
They’re raising from a position of strength for capital they don’t need. As far as I know, they haven’t published their valuation, but it is very possible they’re giving up little equity. Plus, giving up some equity to meet customer demand is generally a good idea as more revenue means higher valuation.
A confusing thing about fundraising and dilution is that the new shares don’t take away value from existing shareholders.
If each share is worth $1 at the valuation used in the raise, then an investor adding $100 million gets 100 million shares for it. The shares aren’t taken away from anyone, they're issued in exchange for the capital.
So ideally the dilution is neutral to the value of the equity. In practice this is highly variable because the valuations are fuzzy numbers used for the raise, but you get the idea.
If a company can get the same growth without raising, that would be better because the proportional ownership stays higher. However, the reason companies give equity in exchange for capital is that they need the cash for growth and can’t get it on better terms anywhere else.
That's always struck me as a very idealistic way of looking at dilution.
Another way to look at it, is that it's partly locking in the value of those shares at the time of dilution, effectively reducing the variance of the future value of the existing shares.
As a thought experiment:
If you're holding a lottery ticket that you bought, and someone comes along, says they're going to buy 1,000 lottery tickets, but promises to share any winnings with you pro-rata. You don't really have a choice to say no.
You'd probably be really annoyed, if your ticket is a winning ticket, you split the jackpot and don't even get a life-changing amount of money back for it. If any of theirs wins, you likewise get a modest amount, but you weren't bothered about losing £1.
It's an expectation neutral thought experiment, but reducing variance isn't always wanted!
Awesome company, awesome products. I wish they pushed AI less in their socials, like we get it computers and servers means ai workloads. It just devalues their whole image in my opinion. Hope you all do continue to do awesome things and don't become evil.
sovereign compute is the only way out of tiranny
Really cool company! Checking out the state of the product I would have expected to see a gpu / tpu server there. Is this on the roadmap?
Couldn't happen to a better bunch of people.
I used to think that Oxide's business model sucks in the face of the hyperscalers. When AWS/GCP/Azure "just works" and is generally reliable and cheap, why would I go through the trouble of buying my own computers? Well the past 5 years have been a constant decline towards more concentration of power, lack of care for their customers, and degradation in quality in general. AI is of course accelerating this decline - selling de-slopped products is now a huge competitive advantage. All the best luck to Oxide.
Also time for the quarterly reminder that On the Metal / Oxide and Friends is an excellent podcast if you're into Rust and/or EE. Bryan and co. do such a good job keeping the technical discussions entertaining. Seems like an awesome place to work, too.
- Series B in Jul 2025 $100M
- Series C in Feb 2026 $200M
- Series D now $445M
I expect the next round soon :)
One has to hope they're not actually burning through their money every 6 months, but I've been disappointed before
They just paid income tax?
Congrats! Now it does get tricky - because once you tempt investors with a profit they start worrying about your spending and expect you to keep a profit.
Congrats to the Oxide team!
A legit business? Raising legit money?? In this economy???
Wake me up please