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London’s Lonely Unicorn: Two Frugal Expats and Their Billion-Dollar Startup

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101–110 of 192 posts

Re: London’s Lonely Unicorn: Two Frugal Expats and Their Billion-Dollar Startup

#101
post #70

Earlier quoted context omitted.

Out of curiosity, what sort of (non-personality) mistakes did you see?

While I didn't quite see all of the possible mistakes pointed out by jpollock in a parallel comment, all of the mistakes I did see were nicely covered there. Another interesting data point was that only 2 of the 10 candidates had ever heard of FizzBuzz. That surprised me more than anything else.

  Another interesting data point was that only 2 of the 10 candidates had ever heard of FizzBuzz.
This is a good indication that the exercise is testing culture, rather than programming ability.

Re: London’s Lonely Unicorn: Two Frugal Expats and Their Billion-Dollar Startup

#102

Interesting that they use the word expat instead of immigrant. I don't think if these two were from Asia/Africa they would have been called expats.

To be honest expat does not necessarily imply a permanent move

Re: London’s Lonely Unicorn: Two Frugal Expats and Their Billion-Dollar Startup

#103

"The company says it is always improving the software that automates the matching process, including complicated solutions that cover, say, a pound-to-dollar transaction with multiple dollar-to-euro and euro-to-pound swaps. If TransferWise can’t find a match, it becomes a market maker, using its own money to complete the deal in the hope that another customer who wants to send at least as much money the opposite way…

Yeah this caught my eye as well... seems like an extraordinary increase in risk for a relatively small gain, not to mention the other costs of changing your business model from a glorified escrow service to an investment bank.

I hope for their sake they have someone who knows what they're doing running that department and hedging appropriately...

Re: London’s Lonely Unicorn: Two Frugal Expats and Their Billion-Dollar Startup

#104
post #37

Interesting that they use the word expat instead of immigrant. I don't think if these two were from Asia/Africa they would have been called expats.

It's pretty well known that (relatively affluent) white immigrants are called expats instead of immigrants. https://www.theguardian.com/global-development-professionals... http://www.forbes.com/sites/jnylander/2015/04/03/in-china-wh...

Eh - no. I was a 'brown' person living in the middle east and called an expat.

Expat implies an intent to return or a temporary worker and is a frequently used term in the middle east/asia. E.g https://www.bloomberg.com/news/articles/2016-12-25/expat-fee...

Not everything has to be viewed from an SJW angle

Re: London’s Lonely Unicorn: Two Frugal Expats and Their Billion-Dollar Startup

#105

Earlier quoted context omitted.

How much is the salary and what's the skill level like? I'm very interested in Eastern European developers, they seem to get shit done and rarely complain.

This kind of commoditization attitude of developers really fucks me off. "Shut up and code and don't complain". Nah, you can fuck right off mate.

Is there anything wrong with looking for developers that don't complain?

Total aside: As an Eastern European emigrant, I don't really mind being characterized as hard-working and rarely-complaining. I like to think it's true.

Re: London’s Lonely Unicorn: Two Frugal Expats and Their Billion-Dollar Startup

#106

Earlier quoted context omitted.

How much is the salary and what's the skill level like? I'm very interested in Eastern European developers, they seem to get shit done and rarely complain.

This kind of commoditization attitude of developers really fucks me off. "Shut up and code and don't complain". Nah, you can fuck right off mate.

Don't complain about the money and don't complain about my flawed illogical mock-up. But please, do take the blame in the end though, for my useless product.

Re: London’s Lonely Unicorn: Two Frugal Expats and Their Billion-Dollar Startup

#107

"The company says it is always improving the software that automates the matching process, including complicated solutions that cover, say, a pound-to-dollar transaction with multiple dollar-to-euro and euro-to-pound swaps. If TransferWise can’t find a match, it becomes a market maker, using its own money to complete the deal in the hope that another customer who wants to send at least as much money the opposite way…

Heh, that reminds me of Yaron Minsky's talk about Caml, in which he stresses the need for absolute correctness of software when you are a market maker or arbitrageur, at risk of your high-throughput trading engine going off the rails...

Re: London’s Lonely Unicorn: Two Frugal Expats and Their Billion-Dollar Startup

#108

Earlier quoted context omitted.

How much is the salary and what's the skill level like? I'm very interested in Eastern European developers, they seem to get shit done and rarely complain.

This kind of commoditization attitude of developers really fucks me off. "Shut up and code and don't complain". Nah, you can fuck right off mate.

The reason for this is exeedingly simple.

Marx theorised that instead of seeing the people behind transactions, rather we focus solely on the trade itself, the commodities involved. This is a simplification of the theory of commodity fetishism, so to say that commodities are fetishised by focusing on one particular aspect of the product rather than the whole web connecting the products, buyers, sellers, labourers etc.

And actually, developers are merely capital. Their labour time is purchased, just as the computer is purchased, or the loom or silk or bale of cotton. It's simply a transaction which is factored into all the other costs, there's nothing special about labour.

From Wage Labour and Capital:

>Consequently, it appears that the capitalist buys their labour with money, and that for money they sell him their labour. But this is merely an illusion. What they actually sell to the capitalist for money is their labour-power. This labour-power the capitalist buys for a day, a week, a month, etc. And after he has bought it, he uses it up by letting the worker labour during the stipulated time. With the same amount of money with which the capitalist has bought their labour-power (for example, with two shillings) he could have bought a certain amount of sugar or of any other commodity. The two shillings with which he bought 20 pounds of sugar is the price of the 20 pounds of sugar. The two shillings with which he bought 12 hours' use of labour-power, is the price of 12 hours' labour. Labour-power, then, is a commodity, no more, no less so than is the sugar. The first is measured by the clock, the other by the scales.

Re: London’s Lonely Unicorn: Two Frugal Expats and Their Billion-Dollar Startup

#109
post #6

Earlier quoted context omitted.

Yes, though without the negative connotations the term "hawala" carries in the West because all transactions are still fully documented and the broker gets a much lower share (for pure monetary international transfers in the hawala system, fees can go as high as 60% with 25% already being considered a "good deal"). And one does not have to pass high/drunk armed guards and is not paid from a huge pile of cash that jus…

At 60% fees and drunk/armed guards, Hawala sounds like money laundering except... even worse rates.

There is no laundry or laundering there. It's like washing your clothes in a puddle of mud. It's not black exactly but it ain't white money either.

Re: London’s Lonely Unicorn: Two Frugal Expats and Their Billion-Dollar Startup

#110

Earlier quoted context omitted.

> VP of Engineering who asked me to code FizzBuzz on a whiteboard (no kidding) I agree that a VP in a late stage interview should not be asking this of the candidate, but I will say that I recently had to hire a new team member, and FizzBuzz helped me to immediately weed out the candidates during the initial interview. I'm talking like 50% of the candidates, and one guy even asked if he could take it home and send me…

> I'm talking like 50% of the candidates, and one guy even asked if he could take it home and send me the code. I'm still trying to reconcile this with my own experience at work. I work for a university department, and hire student employees. Zero people have ever failed our fizzbuzz question on the interview, while it was on there. You would think that post graduation there would be a _lower_ number of degree holder…

> You would think that post graduation there would be a _lower_ number of degree holders who can't code.

I think that there are a good number of people who manage to float through life, never really producing anything, just claiming to be idea men, or appearing busy but never quite delivering, or …

Even if they did once know how to program, it's conceivable that they've forgotten.

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