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Why Silicon Valley Works

blog.samaltman.com

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Re: Why Silicon Valley Works

#131

Post by twic »

graycat wrote: post #73

From http://www.avc.com/a_vc/2013/02/venture-capital-returns.html... at least on average, there is some serious question if Silicon Valley "works" at all well. For > One of the biggest misconceptions about us is that you need to have pre-existing connections to get value from the network. Remarkably, you don’t. Well, as I recall, Sam, from one of your lectures in your current course at Stanford, both Marc Andreesseen…

I'd be interested to see a comparison of something like "dollars of revenue at ten years of age per dollar of initial investment" between Silicon Valley startups and newly formed companies of other kinds. That seems like a reasonable measure of the actual worth of a company to me, and so a decent test of whether Silicon Valley works or not.

Looking at valuations or even market caps is much less useful, because that tells you more about what's going on in investors' minds than in reality.

Re: Why Silicon Valley Works

#132

Post by thecage411 »

nilkn wrote: post #91
steven2012 wrote: post #17

No. The reason why Silicon Valley works is because of the intense greed that it provokes amongst everyone that comes here. Maybe "greed" is too strong of a word, because people aren't necessarily selfish, maybe "money-focused" is probably more accurate. And because anyone can come here and become a millionaire/billionaire, it draws in an immense number of hard-working people which just generally increase the level of…

All this is part of the reason why I've strongly been thinking of going back to school to become a doctor. What follows is mostly a rant, just to be upfront about it. It's a really radical transition, but I really, really dislike the city-centric focus of software engineering. I hate the idea of being a contractor (I just want stable, life-long work), and I can't tell you how tired I am of crippling traffic causing m…

I'm married to a doctor and have considered medicine, but probably won't go for it.

On your individual points: 1) City-focus of software engineering. Have you considered trying to work remotely? That isn't for everyone (I couldn't do it), but it would probably solve your problem

2) Salary wise, I would worry too much unless your first priority is to really help people (more on that below). I've interacted with a lot of doctors and frankly if you are smart developer you'll most likely have a leg up intelligence wise on all but the most in demand specialities.

3) I wouldn't necessarily count on being able to directly help people every day. It depends on your speciality and where you work. A lot of private pratice places often push unnecessary procedures to make money. If you are in a non-procedure speciality or at an academic center you probably won't have those pressures. That being said, if you want a comfortable life where you can actually help people, a job at an academic center outside of a major city sounds like a great fit. I doubt you'd make much more than a software engineer though.

4) I'm not sure how to parse your statement about status-seeking. A lot of people who go into medicine are status seeking.

Re: Why Silicon Valley Works

#133

Post by gmichnikov »

cm2012 wrote: post #82
mathattack wrote: post #71

Earlier quoted context omitted.

Having lived in NYC too, the greed there trumps the greed in Silicon Valley. The greed in NYC is money for it's own sake. The greed in Silicon Valley at least has the pretense of creating good products. The greed in Silicon Valley requires creation of value in addition to capturing it. NYC is all about capturing in. A $4,000/month apartment in Silicon Valley gets you a good school. A $5,000/month apartment in NYC get…

Manhattan is not NYC. You can rent a 1 bedroom for $1600 a month with a 20 minute train commute to Manhattan (and even less rent further away) in a great school district in Queens. I've lived in NYC my whole life, and worked in Manhattan my whole school and working life, and never paid more than $1400 a month in rent for 2 bedrooms - living with my wife and in only completely safe neighborhoods.

Somewhat off-topic, but if you don't mind sharing, what would you say is the optimal Queens neighborhood for proximity/price/schools?

Re: Why Silicon Valley Works

#134

Post by whiddershins »

I love the way people in the Startup community talk about how New York is oriented around finance. It is totally true, from the perspective of a certain group of people. New York also has a history and cultural identity that puts monetary success and business above other concerns that can arguably be traced back to its founding by Dutch traders as New Amsterdam.

That said, New York is only oriented culturally around finance from the perspective of a tiny subgroup of self-important people. The overwhelming majority of people living, working, and creating in NYC do not feel that "finance" dominates the culture, the connections, or the emphasis.

New York is the dominant hub (or close to it) for several genres of music, for television, for fashion, for theater, for many counter-culture political movements, textiles ... the list goes on and on and it will be boring if I continue to explain.

Basically, it's the kind of thing you can say if you really know nothing about New York.

Re: Why Silicon Valley Works

#135

Post by batbomb »

TulliusCicero wrote: post #102
batbomb wrote: post #14

>> The focus in Silicon Valley on long-term compensation is also important. Nearly everyone wants to get rich but they’re willing to wait to do so. Conspicuous consumption isn’t that cool; not too many people drive Ferraris or talk about their vacation homes. Instead, they talk about how healthy they are, their diets, or the climbing gym.

Is that...bad?

While it's not conspicuous consumption, it is conspicuous. I'd argue it falls in a broader category of conspicuous lifestyles.

Is there bad about owning a Ferrari?

Re: Why Silicon Valley Works

#136

Post by nilkn »

TheOtherHobbes wrote: post #120
nilkn wrote: post #91

Earlier quoted context omitted.

All this is part of the reason why I've strongly been thinking of going back to school to become a doctor. What follows is mostly a rant, just to be upfront about it. It's a really radical transition, but I really, really dislike the city-centric focus of software engineering. I hate the idea of being a contractor (I just want stable, life-long work), and I can't tell you how tired I am of crippling traffic causing m…

Uh - remote? I've spent most of my professional life working from home. With some extra effort, you can earn an SV salary but live in an area that has a very un-SV cost of living. Traffic isn't an issue either. You can network remotely. You can build companies remotely. You can even find investors remotely. A few people are doing this already. More and more will in future. (Are we really supposed to believe it's alwa…

Do you really think working remotely is anywhere nearly as stable as working as a doctor? I'm asking honestly. If I were convinced that it were, I'd consider that path. But most companies I've been involved with have clearly preferred developers to actively be part of the office (I guess I need to actively seek out the exceptions), and the areas I would like to live in aren't necessarily ones I'd want to find myself unemployed in (due to lack of technology companies -- I'd either have to find another remote job or uproot my whole life).

I'm also not confident at all on the longevity of most software companies. Part of me does not feel comfortable growing roots somewhere while working for a company that I don't expect to survive the course of even my own career, with very few other local options to fall back on.

Also, for what it's worth, I really do enjoy physically being around coworkers and interacting with people. The lack of interaction is one of the things that bothers me with software development. I think, if I worked remotely, I'd have to start a family just to keep myself feeling connected to the world.

Re: Why Silicon Valley Works

#137

Post by nilkn »

thecage411 wrote: post #132
nilkn wrote: post #91

Earlier quoted context omitted.

All this is part of the reason why I've strongly been thinking of going back to school to become a doctor. What follows is mostly a rant, just to be upfront about it. It's a really radical transition, but I really, really dislike the city-centric focus of software engineering. I hate the idea of being a contractor (I just want stable, life-long work), and I can't tell you how tired I am of crippling traffic causing m…

I'm married to a doctor and have considered medicine, but probably won't go for it. On your individual points: 1) City-focus of software engineering. Have you considered trying to work remotely? That isn't for everyone (I couldn't do it), but it would probably solve your problem 2) Salary wise, I would worry too much unless your first priority is to really help people (more on that below). I've interacted with a lot…

> I'm not sure how to parse your statement about status-seeking. A lot of people who go into medicine are status seeking.

My point, I suppose, is that spending an extra 7+ years in school/residency and taking out a ton of debt is not a very efficient way to get money and status unless you plan on being among those who get into a hyper-competitive residency.

I agree that working remotely would solve my problem, but I have serious concerns over (1) long-term stability; (2) being totally isolated from coworkers.

Re: Why Silicon Valley Works

#138

Post by thecage411 »

nilkn wrote: post #137
thecage411 wrote: post #132

Earlier quoted context omitted.

I'm married to a doctor and have considered medicine, but probably won't go for it. On your individual points: 1) City-focus of software engineering. Have you considered trying to work remotely? That isn't for everyone (I couldn't do it), but it would probably solve your problem 2) Salary wise, I would worry too much unless your first priority is to really help people (more on that below). I've interacted with a lot…

> I'm not sure how to parse your statement about status-seeking. A lot of people who go into medicine are status seeking. My point, I suppose, is that spending an extra 7+ years in school/residency and taking out a ton of debt is not a very efficient way to get money and status unless you plan on being among those who get into a hyper-competitive residency. I agree that working remotely would solve my problem, but I…

I have those same concerns about working remotely, but some have made it work.

In any case, good luck to you.

Re: Why Silicon Valley Works

#139

Post by sopooneo »

nilkn wrote: post #91
steven2012 wrote: post #17

No. The reason why Silicon Valley works is because of the intense greed that it provokes amongst everyone that comes here. Maybe "greed" is too strong of a word, because people aren't necessarily selfish, maybe "money-focused" is probably more accurate. And because anyone can come here and become a millionaire/billionaire, it draws in an immense number of hard-working people which just generally increase the level of…

All this is part of the reason why I've strongly been thinking of going back to school to become a doctor. What follows is mostly a rant, just to be upfront about it. It's a really radical transition, but I really, really dislike the city-centric focus of software engineering. I hate the idea of being a contractor (I just want stable, life-long work), and I can't tell you how tired I am of crippling traffic causing m…

I hear you friend, but I knew a few doctors that are getting pretty tired of the all the insurance nonsense they have to deal with.

Re: Why Silicon Valley Works

#140

Post by malbiniak »

porter wrote: post #86
Balgair wrote: post #65

Earlier quoted context omitted.

On the living part: My folks live in Concord and their next door neighbor just moved into assisted living at 95. Her house sold within a week for 700k to a young couple. It's a 3 bed 1 bath single story in Concord with drainage problems, mind you. Lets do the math here shall we: What is the mortgage and taxes(thanks prop13) on a place like? Well, at 4.05%, good credit, and 15% down, it's 2857.80/month just on the loa…

If it's so bad, why aren't people moving out of the valley?

Hello from Portland.

Anecdotally, it seems like they are moving out of there and moving in here. (Disclaimer: there's an alarming number of people here that are opposed to that. I'm not one of them.)

Thing to consider, though. There still isn't nearly the concentration of VCs (and thus networks) here as there are there. Depending on where you're at with your project/startup/company, that's got to be a sizable consideration when thinking about moving to/moving from the valley.

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