Is the narrative that big companies are safe havens for job seekers actually true? Isn't Airbnb a "big" company?
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Startups are pummeled in the ‘great unwinding’
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Re: Startups are pummeled in the ‘great unwinding’
#62So I’m curious will property and rental prices drop in San Francisco now that funding is drying up? Can’t seem to find much information about that. For example a friend of mine who was laid off still has to pay $3300 / month for his studio. Curious how long this will last for?
Re: Startups are pummeled in the ‘great unwinding’
#63> For start-up workers, the past few weeks have been sobering. Many had bought into the tech industry’s change-the-world ideals, had few boundaries between their work and personal lives and hoped for big payouts if their start-ups went public. This saddened me, because it's a refrain that we hear over and over and over. Same exact thing happened during the .com bust (which scares me to believe that was 20 years ago a…
Good start-up CEOs struggle with this because many of them do care for their employees at a personal level, but they also have an obligation to the owners/investors to be financially successful. And the most findnacially successful CEOs are going to put investors first when they are up against the wall. I assume they rationalize it by saying that if the company is successful that is better in the long run for everyone.
Re: Startups are pummeled in the ‘great unwinding’
#64Earlier quoted context omitted.
Another thing that's more than half a decade old is your objection. The term "startup" has come to have a broad meaning. The meaning of words changes over time. Fortunately, new terms often come along to fill gaps. In this case there is the term early-stage startup .
The definition is now so broad as to become meaningless.
The definition hasn't changed. There's a lot of misuse and abuse for marketing purposes.
Re: Startups are pummeled in the ‘great unwinding’
#65Classpass was founded in 2013. Wonderschool was founded in 2012. Can we stop calling companies that age a startup? Or at least stop using them as examples? I mean, the article then goes on to call Airbnb a "home rental start-up". It isn't a start-up, it is over a decade old and has over 10,000 employees.
I worked for a self-proclaimed "startup" that was 10 years old. At some point, it's really just another word for "we don't have our shit together."
Hahaha so true. The one I rebranded itself as "scaleup" around its 10th birthday when "startup" became untenable.
Re: Startups are pummeled in the ‘great unwinding’
#66So I’m curious will property and rental prices drop in San Francisco now that funding is drying up? Can’t seem to find much information about that. For example a friend of mine who was laid off still has to pay $3300 / month for his studio. Curious how long this will last for?
In 2002 after dot.bomb, prices held flat for a while.
A fair of vacancies in SoMa.
The 2008 recession sort of bypassed tech.
Re: Startups are pummeled in the ‘great unwinding’
#67So I’m curious will property and rental prices drop in San Francisco now that funding is drying up? Can’t seem to find much information about that. For example a friend of mine who was laid off still has to pay $3300 / month for his studio. Curious how long this will last for?
During the dot-com bust, rental prices went down a bit. During 2008, they stayed flat (as opposed to going up a few percent each year).
So I'm guessing it will either stay flat or go negative. It depends on how quickly things recover once the shelter in place is lifted and how many people actually leave the area.
The housing prices are driven by lack of supply, so even if demand softens a bit, it won't have that big of an effect, I think.
Re: Startups are pummeled in the ‘great unwinding’
#68Is the narrative that big companies are safe havens for job seekers actually true? Isn't Airbnb a "big" company?
Airbnb is working on pulling out all the stops to try and prevent layoffs. They might not succeed, but if they were a smaller company they wouldn't even have anything to try.
Re: Startups are pummeled in the ‘great unwinding’
#69Earlier quoted context omitted.
I guess startup is generally understood now to mean a VC-backed company that doesn't make any money.
Often, a "startup" just means a private company that plans to go public but hasn't done so yet (as opposed to already public companies, and private companies that don't plan on going public)
No, that sounds like a private company trying to sound trendy.
A startup has a small number of employees to start with and a 2 - 3 year window to go big, fizzle out, or pivot into a small - medium sized business. You're not a "startup" forever, nor does eventually marketing yourself as one, actually make you one.
Re: Startups are pummeled in the ‘great unwinding’
#70Earlier quoted context omitted.
I guess startup is generally understood now to mean a VC-backed company that doesn't make any money.
Often, a "startup" just means a private company that plans to go public but hasn't done so yet (as opposed to already public companies, and private companies that don't plan on going public)
I don't think so, because a whole lot of startups plan to get bought, not go public.