Ask HN: Is it possible to make FAANG salaries without working there? • Hacker News Board

Re: Ask HN: Is it possible to make FAANG salaries without working there?

#241

Post by keiferski » Tue, Jul 23, 2024, 3:22 PM UTC

Rinzler89 wrote: post #234

keiferski wrote: post #221

It's interesting how so many people have an aversion to being a business owner / entrepreneur, and will instead put in so much effort to optimize being a well-paid employee, instead of learning how to start and run a business. These salaries listed are great salaries, no doubt, but they are not dramatically more than say, a guy running a successful local plumbing business. And the ceiling is limited as an employee, w…

> instead of learning how to start and run a business Because the stress and risks of running a small business as a solo inexperienced first time business owner are insane compared to a regular 9-5. Especially if you start hiring other people, your liability then increases 10 fold as now anything can happen with them (sick leave, absenteism, low performance, sabotage, etc) but you're still bound to the same deadlines…

I get that, but if you’re trying to get a job at one of the best paying companies in the world, is the stress level actually that different?

And there are plenty of examples (search on HN for them) of people running one person internet businesses and making a healthy living.

Re: Ask HN: Is it possible to make FAANG salaries without working there?

#242

Post by keiferski » Tue, Jul 23, 2024, 3:25 PM UTC

epicureanideal wrote: post #240

keiferski wrote: post #221

It's interesting how so many people have an aversion to being a business owner / entrepreneur, and will instead put in so much effort to optimize being a well-paid employee, instead of learning how to start and run a business. These salaries listed are great salaries, no doubt, but they are not dramatically more than say, a guy running a successful local plumbing business. And the ceiling is limited as an employee, w…

> I mean a SAAS that solves a boring problem for other businesses with money to spend. Profitable software-based ideas are increasingly difficult to find. Thousands of people are exploring every niche and trying to start startups in them, which is great, but competition is fierce and unexplored niches are shrinking. And of course, it's still not straightforward even if you find a relatively unexplored niche. Most peo…

People say this but I don’t buy it at all. If anything, it feels like the vast majority of the business world is still operating on some combination of Excel and a software program that was outdated a decade ago. The main issue is that their problems are too boring and obscure for anyone without direct personal experience to care about them.

Re: Ask HN: Is it possible to make FAANG salaries without working there?

#243

Post by mr90210 » Tue, Jul 23, 2024, 3:25 PM UTC

keiferski wrote: post #221

It's interesting how so many people have an aversion to being a business owner / entrepreneur, and will instead put in so much effort to optimize being a well-paid employee, instead of learning how to start and run a business. These salaries listed are great salaries, no doubt, but they are not dramatically more than say, a guy running a successful local plumbing business. And the ceiling is limited as an employee, w…

I agree with you, but I also understand that some just don’t know that entrepreneurship could also yield those salaries and more. Some can’t handle the uncertainty that of entrepreneurship. Some have been entrepreneurs and after an exit do decide to work for someone else.

As for myself, I can’t wait to free myself from these chains called salaried employment. (I don’t mean to offend anyone)

Re: Ask HN: Is it possible to make FAANG salaries without working there?

#244

Post by harimau777 » Tue, Jul 23, 2024, 3:25 PM UTC

keiferski wrote: post #221

It's interesting how so many people have an aversion to being a business owner / entrepreneur, and will instead put in so much effort to optimize being a well-paid employee, instead of learning how to start and run a business. These salaries listed are great salaries, no doubt, but they are not dramatically more than say, a guy running a successful local plumbing business. And the ceiling is limited as an employee, w…

How do you get the startup capital to do this? At least in the area where I have know how it would cost at least a million to get the space, hardware, raw materials, and employees to start turning out products. Then you would need money for marketing and logistics.

Re: Ask HN: Is it possible to make FAANG salaries without working there?

#245

Post by mr90210 » Tue, Jul 23, 2024, 3:26 PM UTC

kevinsync wrote: post #238

keiferski wrote: post #221

It's interesting how so many people have an aversion to being a business owner / entrepreneur, and will instead put in so much effort to optimize being a well-paid employee, instead of learning how to start and run a business. These salaries listed are great salaries, no doubt, but they are not dramatically more than say, a guy running a successful local plumbing business. And the ceiling is limited as an employee, w…

Yes. This is a bit reductive, but literally everything is out there for the taking -- you just have to go out and get it! Anecdotally, I've noticed that a disproportionate amount of formally-educated people I've encountered in life are more allergic to this idea than the opposite.. I don't have any solid theories as to why, exactly, but it's curious nonetheless.

Have look at Nassim Taleb’s Skin In The Game. He explores this topic at length.

Re: Ask HN: Is it possible to make FAANG salaries without working there?

#246

Post by brodouevencode » Tue, Jul 23, 2024, 3:27 PM UTC

reaperman wrote: post #233

brodouevencode wrote: post #216

Earlier quoted context omitted.

~Calm down. It's a common misconception.~

Apparently this belief is far more common than I thought. I expected it to be closer to the percentage of Americans who think the Earth is flat (10%)[0]. Evidently 50% of Americans[1] believe you pay your highest marginal rate on all of your income. I'm blown away, and genuinely humbled. I don't understand how someone can get a Fannie Mae/Freddie Mac home loan, raise children, have a long and successful career and no…

It was preached to me that this was how it worked since I started working in the mid-90s. I didn't learn better until an accountant friend clarified that when I got him to do my taxes when I started making real money in the mid-00s.

I dare say that it was probably the most common understanding until fairly recently. The internet has probably helped a lot with that. That is to say, if you're of a certain generation you probably think this way because that's what was generally understood.

Re: Ask HN: Is it possible to make FAANG salaries without working there?

#247

Post by tiffanyh » Tue, Jul 23, 2024, 3:27 PM UTC

keiferski wrote: post #221

It's interesting how so many people have an aversion to being a business owner / entrepreneur, and will instead put in so much effort to optimize being a well-paid employee, instead of learning how to start and run a business. These salaries listed are great salaries, no doubt, but they are not dramatically more than say, a guy running a successful local plumbing business. And the ceiling is limited as an employee, w…

Statistically, you'll make more money working for someone else than working for yourself (and have a better work/life balance as well).

And you might say, "well - you'll never become a billionaire working for someone else".

That's not true.

There's plenty of CEOs (non-founders) who are billionaires.

And the chances of you running your own company and becoming a billionaire, is about the same probability as you becoming a CEO at a Fortune 500.

Re: Ask HN: Is it possible to make FAANG salaries without working there?

#248

Post by xeromal » Tue, Jul 23, 2024, 3:27 PM UTC

kevinsync wrote: post #238

keiferski wrote: post #221

It's interesting how so many people have an aversion to being a business owner / entrepreneur, and will instead put in so much effort to optimize being a well-paid employee, instead of learning how to start and run a business. These salaries listed are great salaries, no doubt, but they are not dramatically more than say, a guy running a successful local plumbing business. And the ceiling is limited as an employee, w…

Yes. This is a bit reductive, but literally everything is out there for the taking -- you just have to go out and get it! Anecdotally, I've noticed that a disproportionate amount of formally-educated people I've encountered in life are more allergic to this idea than the opposite.. I don't have any solid theories as to why, exactly, but it's curious nonetheless.

Because a lot of people don't want everything resting on them. Takes a special kind of person. I know I ain't one. My dad owned his own business with a 100 employees and it was miserable growing up

Re: Ask HN: Is it possible to make FAANG salaries without working there?

#249

Post by Rinzler89 » Tue, Jul 23, 2024, 3:28 PM UTC

keiferski wrote: post #241

Rinzler89 wrote: post #234

Earlier quoted context omitted.

> instead of learning how to start and run a business Because the stress and risks of running a small business as a solo inexperienced first time business owner are insane compared to a regular 9-5. Especially if you start hiring other people, your liability then increases 10 fold as now anything can happen with them (sick leave, absenteism, low performance, sabotage, etc) but you're still bound to the same deadlines…

I get that, but if you’re trying to get a job at one of the best paying companies in the world, is the stress level actually that different? And there are plenty of examples (search on HN for them) of people running one person internet businesses and making a healthy living.

> is the stress level actually that different?

Your liability is. Worst case scenario is you don't get hired, or you get hired, and then get fired. That the worst that can happen. FAANG isn't gonna come after you for damages if you accidentally brick something in production or are just lazy and incompetent. As a business, your customers might.

Let's watch how the Crowdstrike scenario unfolds in the coming months, when they'll probably get lawsuits up the ass for the damages they caused. Get your popcorn ready.

>And there are plenty of examples (search on HN for them) of people running one person internet businesses and making a healthy living.

Sure, but not everyone can get there, the same how not everyone can become a successful football player despite so many successful examples. There's too many variables. Usually, the right connections are your most valuable asset as one man company, and not everyone has them.

Re: Ask HN: Is it possible to make FAANG salaries without working there?

#250

Post by xeromal » Tue, Jul 23, 2024, 3:28 PM UTC

QuercusMax wrote: post #223

brodouevencode wrote: post #216

Earlier quoted context omitted.

~Calm down. It's a common misconception.~

It's a common misconception among people who haven't done even the slightest bit of research. Or done their taxes themselves. Confidently stating stuff that is obviously false SHOULD be ridiculed.

Seems strange that ridicule should be your instinct rather than simple education