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Interview with the creators of levels.fyi

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Re: Interview with the creators of levels.fyi

#171

Post by JoshTriplett »

twblalock wrote: post #62
JoshTriplett wrote: post #25

Earlier quoted context omitted.

You don't have to be in Silicon Valley. Some companies have a premium for working there, but not always, especially at the high end. The more important detail is working for a large company that has stock/RSUs, a bonus program, a robust technical job ladder, and a regular review process. If your company doesn't do stock/RSUs, you're missing out on that aspect (though a small number of companies make up for that with…

A regular review process is key. A lot of startups don't do regular, systematic performance reviews and people think that is a good thing, but it's actually a bad thing. A good performance review gives you the opportunity to demonstrate how well you are doing and back that up with feedback from your peers. It gives your manager documentation that proves you deserve more compensation. And you get this opportunity on a…

Exactly. Work somewhere where there's a default expectation of regular recognition, raises, and promotions.

Re: Interview with the creators of levels.fyi

#172

Post by fizzbuzz123 »

warp_factor wrote: post #169
fizzbuzz123 wrote: post #154

Earlier quoted context omitted.

So the Tax advantages and building equity are worthless and play no part in peoples desire to buy instead of rent. Ok

you should search what "opportunity cost" means. The market is highly inflated compared to other investments because people are blindly buying without thinking at almost any stupid price. Your comment is a perfect example of that.

>Yes, Home ownership is seen as the pinnacle of social status. This is stupid and people should rethink this preconceived notion.

Your comment said that home ownership was only an ego booster implying there is no value besides that. That is obviously false. Whether the valley is in a bubble or not is irrelevant to your point. You sound like a sad renter and landlord bootlicker trying to rationalize your failure to own.

Re: Interview with the creators of levels.fyi

#173

Post by bradlys »

flashgordon wrote: post #121
ehsankia wrote: post #106

Earlier quoted context omitted.

I honestly never understood all my peers constantly complaining about not being able to afford $2M house, as if that's what happiness is all about. You can still rent a very fancy apartment, max out your 401k, have a top car and live a great life, but just because they don't own a house they are always unhappy. I guess it's true that money != happiness. There's always more you could have.

Ummm I dont think anybody cares about the house being $2M (or 5). If they could pay a quarter of that for a Single Family Home with N bedrooms (N being what they need for their family) and in an area they would like to be in (say closer to work/good school district etc) they would happily do so. Now if you are judging somebody because they wanted to live in house with a backyard instead of a apartment that is just pa…

This is basically it for me. I don't care about how much it costs as long as I can get it. It could worth $1, I'd be fine with that. Personally, I have no interest in the financial aspect of real estate.

I want a home that I can modify to my desires and use as I please. I want a woodshop at my home or to do some small machining in my garage - can easily do it if I own the home. As it stands, my landlord gets on my case about even the smallest of changes or for even using my god damn backyard patio. (He says my furniture ruins the "cutesy aesthetic" of the exterior; the oh so visible area that no one but us can see)

It's pretty annoying and home ownership doesn't remove all the burdens/restrictions but it is better than the overbearing landlords that seem overly abundant in the bay area.

Re: Interview with the creators of levels.fyi

#174

Post by malvosenior »

warp_factor wrote: post #169
fizzbuzz123 wrote: post #154

Earlier quoted context omitted.

So the Tax advantages and building equity are worthless and play no part in peoples desire to buy instead of rent. Ok

you should search what "opportunity cost" means. The market is highly inflated compared to other investments because people are blindly buying without thinking at almost any stupid price. Your comment is a perfect example of that.

You can leverage your money much better with a mortgage though. You just need a small down payment, but you get the upside (and downside) on the entire value of the home.

I'd also argue that most other assets are also highly inflated. The P/E on most tech stocks for instance looks a lot scarier than the overall real estate market. I'll add that people have been saying the Bay Area housing bubble will pop for over 30 years. It hasn't yet.

Re: Interview with the creators of levels.fyi

#175

Post by taurath »

base698 wrote: post #81
taurath wrote: post #54

Earlier quoted context omitted.

$115k/yr is $9600/mo. You can spend $5k/mo on a rental with all of those properties, and have $4600/mo for food, utilities, bi-annual trips to europe, the payment for your porsche, and a housekeeper, all whilst saving half of your income to buy a house in the most expensive region of the US in 2-3 years. You can literally have all of those things.

Eh, twice that ($230K) after 401K, insurance, and taxes is barely over $10K a month. Not sure how you got $115K being $9600.

We were talking net, after taxes, and after saving half of the net on a $400k salary.

$115000 / 12 months === $9583.33

Re: Interview with the creators of levels.fyi

#176

Post by chrdlu »

nodesocket wrote: post #7

I've never worked for a public company (such as Facebook, Netflix, Google), when it says $120,000 in stock is that essentially free shares at a given price? I.E. you are open to sell them whenever? I worked at a small series B level startup, and when I left I had the option to buy my shares at the last valuation price, but at just over $20,000 total I declined. I decided I could use that capital better than waiting a…

On letting the options expire:

There are other options than purchasing the options yourself or just letting them expire.

From a pure finance perspective, you just need to find someone to take on the risk of the exercise. My company, ESO Fund, has a diversified portfolio of startups and as a result can take a $20k bet with much more ease than a single employee making a $20k bet.

Re: Interview with the creators of levels.fyi

#177

Post by davidjnelson »

Gibbon1 wrote: post #119
davidjnelson wrote: post #102

Earlier quoted context omitted.

It’s 90 degrees plus 4 months of the year in many parts of the Bay Area, such as San Jose. So yes, you need air conditioning.

I grew up in San Jose. It's more like 2-3 weeks out of the year where air conditioning 'would be nice'

Me too. You’re right that it’s 90+ a few weeks cumulatively. Although the data is a little old.

Last year there were at least 2 weeks of 100+ degrees at my house. It’s a personal preference, over 80 I need ac. I’m sure some people like heat more. There are ~80 days a year it’s over 80 degrees.

Source: https://www.currentresults.com/Weather/California/Places/san...

Re: Interview with the creators of levels.fyi

#178

Post by Terretta »

PenguinCoder wrote: post #88
Terretta wrote: post #74

Earlier quoted context omitted.

> FAANG pays orders of magnitude better That would be two more zeros. You sure they’re paying two more zeros for a dev job? PhD or no, if your skills are good enough for FAANG, I would love to offer you competitive comp in New York, LA, or three lower cost of living university + fintech towns in SE, S, and SW. The FAANGS are sure not paying an extra zero over what we can offer.

I declined multiple 6 figure salary + RSU offered positions with FAANGs due to on-site requirements in CA/SF. What can you competitively offer? Remotely?

I’m assuming “multiple six figures” means more than 1 or 2, and yeah, certainly.

Re: Interview with the creators of levels.fyi

#179

Post by Gibbon1 »

davidjnelson wrote: post #177
Gibbon1 wrote: post #119

Earlier quoted context omitted.

I grew up in San Jose. It's more like 2-3 weeks out of the year where air conditioning 'would be nice'

Me too. You’re right that it’s 90+ a few weeks cumulatively. Although the data is a little old. Last year there were at least 2 weeks of 100+ degrees at my house. It’s a personal preference, over 80 I need ac. I’m sure some people like heat more. There are ~80 days a year it’s over 80 degrees. Source: https://www.currentresults.com/Weather/California/Places/san...

Also point out the high doesn't last that long usually. Not like Phoenix where it'll be 90 degrees at 1am and you have trouble sleeping. When I lived in San Jose in August and September I'd just open the windows at night and close them in the morning. Usually the house would stay bearable though the afternoon and early evening.

I remember May and June weather as 'nice'. August and early September as 'hot'. And then October through early December as 'nice'.

Re: Interview with the creators of levels.fyi

#180

Post by flashgordon »

bradlys wrote: post #173
flashgordon wrote: post #121

Earlier quoted context omitted.

Ummm I dont think anybody cares about the house being $2M (or 5). If they could pay a quarter of that for a Single Family Home with N bedrooms (N being what they need for their family) and in an area they would like to be in (say closer to work/good school district etc) they would happily do so. Now if you are judging somebody because they wanted to live in house with a backyard instead of a apartment that is just pa…

This is basically it for me. I don't care about how much it costs as long as I can get it. It could worth $1, I'd be fine with that. Personally, I have no interest in the financial aspect of real estate. I want a home that I can modify to my desires and use as I please. I want a woodshop at my home or to do some small machining in my garage - can easily do it if I own the home. As it stands, my landlord gets on my ca…

Oh man tell me about it! That but about waking one morning and changing a wall as I see fit is important for me. I don't care if I had to pay only a dollar for the place (as long as it doesn't go down in value). A house is a convinience thing for me more than a status symbol based on worth.
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