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Mike Lee on why he can charge $1,000/hr for iPhone development

le.mu.rs

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Re: Mike Lee on why he can charge $1,000/hr for iPhone development

#151
post #71
post #25

That’s a little like hearing what Brad Pitt got paid for his last movie and wondering why the producer didn’t instead hire Brad Pitman for scale. Oh you’ve never heard of Brad Pitman? You’re not familiar with his work? But you are familiar with Brad Pitt’s work, right? After all, he’s an experienced actor and producer with not one, but two, Academy Award nominations and a portfolio full of household names. Bzzzt. Hor…

I agree. Brad Pitt earns what he does because of the amount of money his movies bring in. If Mike Lee can bring in enough monies for his clients to recoup his exorbitant hourly rate, more power to him. He should definitely tone down the ego and rhetoric a bit though.

Why should he?

Are you earning more / more successfully than him? No? Then why would you think your advice would be helpful?

You shouldn't conflate "what I like" with "what works."

Re: Mike Lee on why he can charge $1,000/hr for iPhone development

#152
post #2

Wow, he might be good at programming, but from his writing, he sure seems like a jerk (Zed Shaw's long lost twin?). I've known many professionals who, being very good at what they do, charge both less and more than $1k/hour, but none of them would ever mention their rate in public, much less feel the need to explain why they deserve it. On the other hand, this is great PR for software engineers: a couple more posts l…

Tangential, but I feel compelled to note that: * I have never met Zed * Like many others I have heard all sorts of stories about him * People are capable of change * In my recent experience Zed has always seemed civil, thoughtful and passionate about code He may have been a jerk in the past, I can't speak to that, but he seems like a decent guy now. Yours, the anti-pigeonholing squad

He's always been 98% civil, thoughtful and friendly in person. That doesn't mean he won't point out if you or somebody else is being a moron or a dickhead, but he does it judiciously.

Zed, like so many other successful writers (e.g. Mark Twain, Churchill, every famous playwright people quote on their blogs) has made a career out of being a sharp-witted asshole in print.

Re: Mike Lee on why he can charge $1,000/hr for iPhone development

#153
Well, aren't we a feisty bucket of crabs. (patio11 brought up this metaphor - and it's perfect.)

People, if you're here on HN, you spend a lot of time devoted to reading about the importance of confidence. That it's the entrepreneur's stock in trade. Hell, maybe you even write your own blog posts about the importance of confidence & post them here, hoping for attention.

But what do you do when the chips are down and you come across somebody who truly embodies them? Clatter your claws and try to pull them back in:

"HA HA" "Oh so he's like Brad Pitt now?" "Wow, 2 app store hits, whatever" "Hope he likes having no clients!" "I would never hire him" "DOUCHE!" "What a jerk" "I'm gonna judge him just by this essay and assume that he has none of the actual qualifications or experience he mentions"

The power of belief-action congruity at work. Or not.

If you want to be successful, and you believe having confidence is part of that, then you better figure out of your words and your deeds line up. Because if they don't, you are never going to get what _you_ want.

Now, I've never charged $1k/hr... but almost. And if you return true business value, that is totally a reasonable number. Remember - it's all about the value returned. That's another HN belief, isn't it?

When I returned to consulting after two years in traditional employment, after many years of lackluster freelancing, I raised my rates from $80 to $200 to $250 to $300 to $400 and beyond. My last project came damn close to $1k/hr after all said & done.

And you know what? My clients loved it. They kept coming back for more. They loved my work and thought the prices were reasonable, because there's nobody out there doing what I do in that price point.

(My only true competition in that space was Stamen - a mid-sized agency compared to little old me and my husband, an intimate 2-person team. Who competes with Mike Lee on what he offers in that blog post?)

I would keep raising my rates and I would have started talking about it, too, except that I don't want to consult any more. The more you charge, the more people need you, the harder it is to say no to projects that promise to put a quick $40k in your pocket.

The moral of the story is: most freelancers are lazy, unprofessional, with their interests completely divided, and have little to no real-life experience to back up their years spent coding in the basement. They undercharge, take on too much, and then produce merely mediocre work. They have no true value proposition other than a body that types the special arcane symbols, and asks the client the occasional question. They have no connections.

Believe it or not, there are many companies out there who will gladly pay for an experience that is entirely the opposite of that.

Re: Mike Lee on why he can charge $1,000/hr for iPhone development

#154
post #71

Earlier quoted context omitted.

I agree. Brad Pitt earns what he does because of the amount of money his movies bring in. If Mike Lee can bring in enough monies for his clients to recoup his exorbitant hourly rate, more power to him. He should definitely tone down the ego and rhetoric a bit though.

Why should he? Are you earning more / more successfully than him? No? Then why would you think your advice would be helpful? You shouldn't conflate "what I like" with "what works."

Perhaps because the post is off putting to readers and makes the guy come across like an asshole? Do not be an asshole is one of the first lessons of social interaction. It's a shame some people confuse confidence with being an asshole.

Secondly, one need not be in a better position to make value judgements. I don't necessarily need to have ever played a game of basketball to tell you that Steve Nash is a better free throw shooter than Dennis Rodman. Just like I can tell you that being an asshole may discourage potential clients (i.e. readers).

If you think it's just me that feels this way, I invite you to read the rest of the comments in this thread.

Furthermore, I never qualified my statements to be indicative of what I like or what would work globally.

Troll better please.

Re: Mike Lee on why he can charge $1,000/hr for iPhone development

#155

Say what you want about his ego, but this article will stick. When some biz guy or PM has his back against the wall with a horrible, failing project that just won't work, calling in the 1k an hour iPhone guy won't sound like a bad idea.

Assuming 1K per hour iPhone guy is willing to take on your failing horrible project.... which of course he may since 1k per hour iPhone guy probably doesn't get a lot of contracts anyway... :)

Re: Mike Lee on why he can charge $1,000/hr for iPhone development

#156
post #131

If the best are 10x as productive as the mediocre, I don't see a problem with this. Of course, you might say that the $120 bulk of freelance programmers are already a notch above mediocre and maybe $500/hr is more reasonable, but whatever the market will bear. It's a good argument to cut top marginal tax rate so that he has an incentive to take more work than he's willing to at $500/hr after taxes (assuming he's in t…

You Laffer curve types never seem to be very good at math. Explain to me, using math, how much the 35% tax rate needs to be lowered to incentivize this guy to work at $500. Once you figure out the math we can move on to psychology.

The Laffer curve is not quantitative model or approach, it's a qualitative explanation or argument. Thus expecting maths is kind of pointless.
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