31–40 of 632 posts
The lack of even a nod to diversity issues (race, gender, class, etc.) that the tech industry is dealing (or not dealing with) is tone deaf and insulting to the extreme.
The lack of even a nod to diversity issues (race, gender, class, etc.) that the tech industry is dealing (or not dealing with) is tone deaf and insulting to the extreme.
This insistence that everything always has to be about diversity is both insulting and counter-productive. Maybe some of the time we can talk about things that work for all people?
> Often times there are hard barriers preventing people from starting a company. In these cases my best advice is to move to a tech hub (preferably the Bay Area) and work for a tech company until you can save the money I had to laugh there. Moving to the Bay Area will reduce your ability to save money, not increase it. I was probably saving 40-50% of my salary when I worked in Nowhereville, Florida. With the housing…
It really depends on the kind of lifestyle you choose. If you want to live alone in a fancy apartment, drive a new car, and eat out every day, then you certainly won't be able to save as much. If you practice frugality, find cheap housing (which does exist if you look hard enough), and don't spend money on things you don't need, then it's quite easy to save a lot of money.
> Often times there are hard barriers preventing people from starting a company. In these cases my best advice is to move to a tech hub (preferably the Bay Area) and work for a tech company until you can save the money I had to laugh there. Moving to the Bay Area will reduce your ability to save money, not increase it. I was probably saving 40-50% of my salary when I worked in Nowhereville, Florida. With the housing…
I keep on hearing about that.. so what's savings rate people should expect in SF?
Base comp 200K
Bonus, stock, 401k match 50K
Total gross comp 250K
Expenses:
Taxes 40% (30% fed, 10% state) 100K
Rental housing 40K ($3300/month)
Food 15K
Transportation 15K
Discretionary spending 20K
Total expenses 190K
As a result, you can comfortably save $60K per year. Of course, kids and housing options will add greatly to your spend.
What about the world of contracting? You can also be someone who has flexibility on where/ when they work and for who, and it's probably a more viable 'path' in tech than in any other industry. Since the vast majority of founders fail, having significant financial cushions from your family or years working prior is probably the top pre-requisite if 'founder' is your path.
Contracting is good, but there is a trap. If you find yourself as a contractor and the market crashes, finding new contracts is much more difficult. At least I experienced this during the dot bomb / 911 collapse in 2001. Also, you have to pay for your health insurance, which is getting crazy expensive, and only gets more expensive as you get older. Make sure you adjust your rate accordingly. This may or may not apply…
I'm also not all that certain that down markets don't hit all categories with similar force. Contractors may be cut slightly earlier (discretionary spending), but that depends on contracting terms and duration (there are set-length contracts), and as a bonus might be hired back earlier.
Much depends on whether or not you have a specific skillset that's in demand, and know how to market it effectively. And that's regardless of your employment terms.
Earlier quoted context omitted.
It really depends on the kind of lifestyle you choose. If you want to live alone in a fancy apartment, drive a new car, and eat out every day, then you certainly won't be able to save as much. If you practice frugality, find cheap housing (which does exist if you look hard enough), and don't spend money on things you don't need, then it's quite easy to save a lot of money.
> fancy apartment Being a 400 sq. ft. studio that you pay $3k per month for to live in an area where you won't get stabbed when you go out at night and is close enough to work where you don't need a car.
I lived with 3 roommates to save money, I sold my car, you won't get stabbed anywhere in SF (so live in the sketchy area it'll get nicer each year). My rent was $1,200 a month, a lucky find.
Now don't get me wrong I hated living there, no girls, homelessness everywhere smelled like garbage, and a self-obsession that pretended to be health-minded but was really wealth-minded ($9 juice OMG).
But the earning power change by having lived there is night and day. To have companies people have heard of on your resume goes such a long way.
The lack of even a nod to diversity issues (race, gender, class, etc.) that the tech industry is dealing (or not dealing with) is tone deaf and insulting to the extreme.
Earlier quoted context omitted.
> fancy apartment Being a 400 sq. ft. studio that you pay $3k per month for to live in an area where you won't get stabbed when you go out at night and is close enough to work where you don't need a car.
Why would you ever live in a studio if you want to save money?
> Often times there are hard barriers preventing people from starting a company. In these cases my best advice is to move to a tech hub (preferably the Bay Area) and work for a tech company until you can save the money I had to laugh there. Moving to the Bay Area will reduce your ability to save money, not increase it. I was probably saving 40-50% of my salary when I worked in Nowhereville, Florida. With the housing…
I think it depends primarily on if you work for a tech company or a startup.
Earlier quoted context omitted.
> fancy apartment Being a 400 sq. ft. studio that you pay $3k per month for to live in an area where you won't get stabbed when you go out at night and is close enough to work where you don't need a car.
Why would you ever live in a studio if you want to save money?