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Brex Layoffs

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Re: Brex Layoffs

#61
post #33

It seems like companies are really tightening the screws further this year. When I got into this industry I figured the good times would roll for about 10 years, and then it would be about time for another career change. "Make hay while the sun is shining", as they say. I'm right around that 10th year, and I think that prediction was accurate.

Do you think there is a career out there better than (I assume) software development? My view is that we are still in pretty good times. Maybe not great, but everyone who kept their jobs is still earning a big salary. And everything else other than software development is worse (specifically if you bundle things like ML into “software development“). I am curious. What career would you change to?

Self-employed tradesman pays as much on a per-hour basis as contract dev work and doesn't have to compete with a million people in developing countries willing to work for $20/hr. The project management parts from software development aren't too different either -- it's all tasks, coordinating stakeholders, etc.

That's my angle, but there are plenty of other fields too: healthcare (nurses make as much as most SWEs and can live anywhere in the country), government, certain employee tradesmen (electrician, etc.), basically anything that requires some sort of license or training. Life is long, spending a couple years to get 10+ years of good returns is a wise investment.

I've never been to the Bay Area, so what I'm about to say may not apply, but look in any middle-class neighborhood: maybe 5% of the people are in tech -- what is everyone else doing? The above is a sampling of careers that have provided people in my neighborhood a comfortable American Dream style of life.

Re: Brex Layoffs

#62
post #33

Earlier quoted context omitted.

Do you think there is a career out there better than (I assume) software development? My view is that we are still in pretty good times. Maybe not great, but everyone who kept their jobs is still earning a big salary. And everything else other than software development is worse (specifically if you bundle things like ML into “software development“). I am curious. What career would you change to?

Attorney. Build a system, work from anywhere, make your own schedule. Hard to outsource.

What does build a system mean?

Re: Brex Layoffs

#64

Earlier quoted context omitted.

Attorney. Build a system, work from anywhere, make your own schedule. Hard to outsource.

Really? I would have assumed that attorney is one of those jobs that is going to be hugely disrupted by AI. Should people new to the field bother if they aren't going to be top X% (5? 10?)?

For people without the resources, yes. For people that have a problem and resources, no. They pay for the best and want to be sure it‘s watertight.

Re: Brex Layoffs

#65

Earlier quoted context omitted.

Attorney. Build a system, work from anywhere, make your own schedule. Hard to outsource.

Really? I would have assumed that attorney is one of those jobs that is going to be hugely disrupted by AI. Should people new to the field bother if they aren't going to be top X% (5? 10?)?

[deleted]

Re: Brex Layoffs

#67
"Henrique and I are responsible for the decisions that led us here, and seeing so many talented folks go through this experience is never what you hope for as a founder."

~ Responsible but not accountable, got it.

Re: Brex Layoffs

#68

Earlier quoted context omitted.

They lied (or did not clearly inform their sales people) about their AWS credit promotion a few years ago which really annoyed me when they were trying to sell us. Went back to the safe embrace of SVB but I guess that didn't really play out well. As a startup I desperately want to see more credit card companies willing to offer cards to founders without ridiculous personal guarantees, so I hope they figure it out.

I have used SVB in the past as well, for my first startup. They were solidly OK. This is still an area ripe for disruption IMO, old Brex filled the niche but for some reason we just can't do payments and banking correctly in the US. India has UPI for instance, and even foreigners can avail themselves of this facility.

Solidly okay right up to their bank run.

Re: Brex Layoffs

#69
post #8

I like that they shared publicly the severance package (I missed that in a company before, the severance package was only available to the ones laid off, and you wouldn't even know if you got the same as your colleagues). And the package itself seems alright too (and sensible, for example: the laid off can keep their laptops. What would company do with almost 300 extra laptops?). Time of the lay off also not too bad…

> Time of the lay off also not too bad (firing people in November/December is really uncool).

I don’t understand this. Why is it uncool? And why is January better?

I guess it doesn’t let people enjoy their vacations. But on the flip side, isn’t that a good thing? You can curb expenses on the vacation/holidays.

Re: Brex Layoffs

#70

Earlier quoted context omitted.

Attorney. Build a system, work from anywhere, make your own schedule. Hard to outsource.

Here I am the one to bring up AI, ugh. I get a sense that, of all things, LLM's actually encroach on legal professions the most (aside from copywriters). But this is from an outside perspective. Any insights?

If blockchain didn’t replace the law, neither is a hallucinating robot in the near term. Has to pass legal muster, not techbro bar. I say this as someone deeply involved in GRC in finance where a component of my work is working on improving LLM guardrails for knowledge management.
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