# What It's Like to Wait Out a 6-Month IPO Lockup as a Startup Employee A firsthand account of the psychological and financial journey through an IPO lockup period. - **Source:** [Financial Samurai](https://brifing.si/source/2dfc65c5-ac02-4981-abcf-c22d754648d4) - **Published:** 2026-07-13 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/25383f15-aba8-4942-968a-635d482d7d82 ## What Is an IPO Lockup? An IPO lockup is a period after a company goes public during which employees and early investors cannot sell their shares. Typically lasting six months, this rule helps maintain market stability. For startup employees, it means waiting for access to potentially life-changing wealth. ## From Finance to the Startup World The author witnessed many IPOs during a 13-year banking career but never experienced the process from the inside. When Fundrise Innovation Fund listed on the NYSE, they finally understood the psychological dimensions of waiting out a lockup period as a shareholder. ## The Quest for Startup Experience After leaving finance in 2012, the author tried joining companies like Airbnb and Uber but was unsuccessful. Instead, they invested in public tech companies and venture capital funds to gain indirect exposure to the startup ecosystem. ## A Long-Standing Relationship with Fundrise Since 2016, the author has partnered with Fundrise, developing the BURL (Buy Utility, Rent Luxury) framework. This strategy advocates investing in low-cost areas while renting in high-cost ones. Fundrise became both a subject of the author's writing and a financial supporter. ## VCX's NYSE Listing The listing of Fundrise's VCX fund on the NYSE was a milestone for the author. Years of planning and execution culminated in this achievement. The author recalls discussing the idea with CEO Ben Miller during COVID and celebrating its eventual success. ## Startup Upside Without Sacrifice The author achieved financial benefits similar to those of a startup employee without the traditional sacrifices. Through the Fundrise partnership, they enjoyed equity-like gains while maintaining freedom—no meetings, KPIs, or business travel—just time with family and personal pursuits. ## The Psychological Toll of the Lockup A lockup period tests investors' and employees' patience. Unable to sell shares despite market fluctuations, one must exercise discipline. The author shares how they managed emotional responses and stayed focused on long-term goals during this time. ## Post-IPO Mania After an IPO, a 'mania' phase often occurs, with volatile price swings. The author emphasizes avoiding emotional decisions and sticking to long-term strategies during this turbulent period. ## Impact of Fed Rate Hikes Aggressive Fed rate hikes in 2022 hit commercial real estate hard. The author remained loyal to Fundrise, maintaining faith in its long-term thesis. This mutual commitment strengthened their partnership. ## Fundrise's Growth Story Today, Fundrise manages over $3 billion in residential and industrial real estate, plus a $1.5+ billion publicly listed venture fund. This growth stems from its innovative approach and democratized investment philosophy. ## The Allure of Startup Culture Startups attract talent with equity incentives, but these come with intense workloads and uncertainty. The author's Fundrise partnership offered a flexible alternative, blending financial upside with personal freedom. ## Conclusion: Balancing Freedom and Financial Gain The author's journey shows it's possible to enjoy startup-like benefits without sacrificing freedom. Their Fundrise partnership delivered both financial rewards and a lifestyle aligned with personal values. ## Sources covering this story - https://www.financialsamurai.com/startup-employee-six-month-lockup/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._