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Startups Are Scooping Up Big Tech’s Cast-Off Workers

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Re: Startups Are Scooping Up Big Tech’s Cast-Off Workers

#341

Post by unmole »

adave wrote: post #306
RestlessMind wrote: post #88

Earlier quoted context omitted.

> In France, apparently you can go on unemployment for 2, up to 3 years to start a startup. With up to 80% pay. Then why does France have such a low rate of new business formation (5.3/1000 people) - https://data.worldbank.org/indicator/IC.BUS.NDNS.ZS?most_rec... Or as another indicator, number of tech startups per Million is 234 for the US, while only 24 for France - https://www.startupranking.com/countries

Because tech talent is cheap for the amount of productivity in US with ability to fire at will.Ease of fooling and swindling people if you have the right connections. In Europe shit that gets you into jail is a just a small monetary fine in USA.

> In Europe shit that gets you into jail

How many people went to jail for Wirecard?

Re: Startups Are Scooping Up Big Tech’s Cast-Off Workers

#342

Post by jselysianeagle »

adave wrote: post #304
908B64B197 wrote: post #264

Earlier quoted context omitted.

Most of the 2022 and 2023 layoffs were for "Non-Technical" or "Tech-Adjacent staff". [0] [1] [2] [3] [4] The market is still incredibly strong for SV caliber devs, and I see no signal it's going to slow down. If anything, it kept compensation for engineers from cratering by propping up the stocks. [0] https://interviewing.io/blog/2022-layoffs-engineers-vs-other... [1] https://www.bloomberg.com/news/articles/2023-01-2…

You are out of your depth if you are comparing numbers, try interviewing in this market as a generic web dev and reality will come to you very soon. SV caliber devs leaving US because they can find better paying roles internationally or not even looking due to fat severance/low pay in the bay.

> SV caliber devs leaving US because they can find better paying roles internationally or not even looking due to fat severance/low pay in the bay.

Where are they going? Genuinely curious. Where outside of the US are SV caliber devs getting paid even more than they'd be getting paid here?

Re: Startups Are Scooping Up Big Tech’s Cast-Off Workers

#343

Post by burnte »

JohnFen wrote: post #325
nicenewtemp84 wrote: post #167

Earlier quoted context omitted.

They might hire to scoop people up, but when they fire, don't they fire based on performance? Or is it purely a random pick?

Some from every column. In larger companies, firing decisions are often political decisions.

Yep, I've been in companies where it's the whole "every department needs to cut" rather than only cutting dead weight.

Re: Startups Are Scooping Up Big Tech’s Cast-Off Workers

#344

Post by 0xBDB »

bradlys wrote: post #154
cjdoc29 wrote: post #146

Earlier quoted context omitted.

Can you expand on the "at least half" part? On an income of $200k in California, for example, your tax rate is something like 8% (marginal). If you total it up with federal taxes, it's something like a 27% tax rate.

It’s about 36%. https://smartasset.com/taxes/paycheck-calculator#EcokmNT9zH

That appears to be the effective rate for income tax, but there are also sales taxes, "stamp" tax on things like houses and cars, excise taxes (especially on fuel), property tax, and inflation. I'm pretty confident you can get above half at a high income in California, New York, or especially Massachusetts.

You do get something for that, but it is surprising (to me anyway) for example how similar the percentages of GDP spent on social welfare are between the blue U.S. states and Australia, and how much more the Australians seem to get for the money.

Re: Startups Are Scooping Up Big Tech’s Cast-Off Workers

#345

Post by tristan957 »

j0hnyl wrote: post #338
_vbnz wrote: post #29

American engineers are lucky to earn enough to be able to save up and do stuff like this, like on $200k you can save enough to really try a start-up for a year or two. Whereas in Europe we're lucky to get $80k in the same jobs, and then the state steals half of that :/

State steals half of ours here in the USA too if you live in a high cost of living city, which many well paid devs do.

I live in a high cost of living city. Texas has no capital gains tax, no income tax, and I don't own a property (obviously I see this through higher rent at $1450 for a 1x1. I pay the 8.25% sales tax and my highest income tax bracket is 23%. I am nowhere near 50%.

Re: Startups Are Scooping Up Big Tech’s Cast-Off Workers

#346

Post by j0hnyl »

tristan957 wrote: post #345
j0hnyl wrote: post #338

Earlier quoted context omitted.

State steals half of ours here in the USA too if you live in a high cost of living city, which many well paid devs do.

I live in a high cost of living city. Texas has no capital gains tax, no income tax, and I don't own a property (obviously I see this through higher rent at $1450 for a 1x1. I pay the 8.25% sales tax and my highest income tax bracket is 23%. I am nowhere near 50%.

The highest cost of living city in Texas is not even in the top 10 most high cost of living cities in the US.

Re: Startups Are Scooping Up Big Tech’s Cast-Off Workers

#347

Post by fmajid »

afthonos wrote: post #180
soperj wrote: post #152

Earlier quoted context omitted.

You could have said the same about google originally when Yahoo was using google to provide their search services.

You could also have said that about Altavista, and you would’ve been right. Like GP said, it’s too early to tell.

Altavista wasn't a startup, it was a spinoff from DEC, a company that had its own issues with sales at the time, which led to their ignominious takeover by HP.

Re: Startups Are Scooping Up Big Tech’s Cast-Off Workers

#348

Post by busterarm »

jen20 wrote: post #300
thephyber wrote: post #164

Earlier quoted context omitted.

Most likely your parent misunderstands the _marginal_ income tax rates. That said, income tax is not the only kind of tax. In the US, federated government entities mean a mesh of taxes accumulate. Income tax + Payroll Tax + Social Security + Medicare + Property Tax + Sales Tax aggregate. CA and NY are a little higher than other competing states, but not by much.

Property tax is the one that people always forget in the US - especially when looking at places with “low” overall tax rates like Texas.

Also NYC has city tax roughly between 3% & 4%.

Re: Startups Are Scooping Up Big Tech’s Cast-Off Workers

#349

Post by busterarm »

0xBDB wrote: post #344
bradlys wrote: post #154

Earlier quoted context omitted.

It’s about 36%. https://smartasset.com/taxes/paycheck-calculator#EcokmNT9zH

That appears to be the effective rate for income tax, but there are also sales taxes, "stamp" tax on things like houses and cars, excise taxes (especially on fuel), property tax, and inflation. I'm pretty confident you can get above half at a high income in California, New York, or especially Massachusetts. You do get something for that, but it is surprising (to me anyway) for example how similar the percentages of G…

> You do get something for that, but it is surprising (to me anyway) for example how similar the percentages of GDP spent on social welfare are between the blue U.S. states and Australia, and how much more the Australians seem to get for the money.

Most social welfare programs that people can get in NY are niche. You generally have to meet certain demographic requirements. It also takes years of paperwork and waiting to get into anything if you aren't a single/battered mother.

I paid well over 40% of my income in taxes and had no hope of ever accumulating any assets or meaningful retirement and zero safety net if anything went south for me. My friends in Denmark and Sweden only paid a little bit more for what is effectively a cradle-to-grave nanny state. And they all manage to own their apartments.

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