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The Silicon Valley Founder Meat Grinder

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Re: The Silicon Valley Founder Meat Grinder

#131

Post by MichaelZuo »

est31 wrote: post #123
bencarmin wrote: post #81

Earlier quoted context omitted.

I think it is interesting how now, a lot of the selling to individuals regarding AI is the ability to do what was popular in 2010 (building apps, websites, games) is easy now due to AI. I know so many people who have made workout apps, CRMs, planners, etc. that are baffled by why their work isn't picking up traction (keep in mind, we aren't in SV). Makes me wonder how long we have before, "create your own ChatGPT" be…

You can still get traction for your workout apps, CRMs etc with the right market research (you need to find a niche) and the right marketing. There are gazillions of candy crush remakes, but Royal Match, launched in 2021, still made it to the top in revenue. It was not thanks to some existing monopolist pushing it, but thanks to a) ginormous marketing budget and b) relentless execution and experience of making mobile…

Many people seemingly have trouble grasping that baselines can shift.

And then they get into mental contortions as to why getting 2x or 3x better in an absolute sense doesn’t budge the needle much.

Re: The Silicon Valley Founder Meat Grinder

#132

Post by MeetingsBrowser »

arbuge wrote: post #111
Carrok wrote: post #5

Bit of an aside but I found it somewhat amusing that one example the author uses of Jim’s financial recklessness was getting into home brewing. Home brewing is one of the cheaper hobbies available (though like all hobbies you can spend as much as you want). The only real requirements are a bucket and a pot.

> He lost focus and became reckless. He bought some fancy tree slice table for 10k bucks, got into brewing beer, got a dog, a cat, and overall, went completely over himself financially. Well, he also mentions getting a dog and a cat in that context. Recklessness is relative I guess. The cat would certainly agree though I suppose, when it sees that dog walking in the door...

I think it’s to show that he lost the laser focused drive to succeed.

Before he was willing to make big sacrifices to “make it”.

And on the first step of the ladder to success he started taking on other responsibilities for fun.

Re: The Silicon Valley Founder Meat Grinder

#133

Post by [deleted] »

egonschiele wrote: post #44

Real bummer of a story. > He approached me because he was really into startups and wanted to become a tech entrepreneur, and make the big bucks It's a shame that so much of tech culture has become about money. Money was always a part of it, but living in the Bay in 2010, there was more of a focus on building things. But once people started getting rich, especially off bitcoin, it brought in a whole host of people who…

[deleted]

Re: The Silicon Valley Founder Meat Grinder

#134

Post by dominotw »

mattbillenstein wrote: post #31

Founder culture definitely has fraternity vibes - people with no other discernable talent other than being above average looking and having connections with other similar people end up in positions they have no real idea how to do. In other words, there are a lot of people "playing startup" in the valley - some of the VC money flows too easily and there is always going to be an ecosystem of people to try to put it to…

main personality trait i want to my kids to have is being a confident extrovert that loves ppl and ppl love. Also make sure to marry for looks if you are not that great in that department.

Nothing else even comes to close to these attributes in having a comfortable sucessful life. introverts and cynics get crushed.

Re: The Silicon Valley Founder Meat Grinder

#135

Post by bencarmin »

est31 wrote: post #123
bencarmin wrote: post #81

Earlier quoted context omitted.

I think it is interesting how now, a lot of the selling to individuals regarding AI is the ability to do what was popular in 2010 (building apps, websites, games) is easy now due to AI. I know so many people who have made workout apps, CRMs, planners, etc. that are baffled by why their work isn't picking up traction (keep in mind, we aren't in SV). Makes me wonder how long we have before, "create your own ChatGPT" be…

You can still get traction for your workout apps, CRMs etc with the right market research (you need to find a niche) and the right marketing. There are gazillions of candy crush remakes, but Royal Match, launched in 2021, still made it to the top in revenue. It was not thanks to some existing monopolist pushing it, but thanks to a) ginormous marketing budget and b) relentless execution and experience of making mobile…

> It was not thanks to some existing monopolist pushing it, but thanks to a) ginormous marketing budget and b) relentless execution and experience of making mobile games before

Er... so you don't need to be a monopolist, just have a massive amount of existing capital and deep understanding of the field?

Re: The Silicon Valley Founder Meat Grinder

#136

Post by frmersdog »

mordechai9000 wrote: post #67
RivieraKid wrote: post #39

It's really hard for me to understand that people who have the chance to achieve basic financial independence (say $1M net worth) don't take that chance and make sure to stay financially independent forever. If you do that, you're almost guaranteed to stay in the top 2% globally for the rest of your life. You've made it in life, at least financially. The approach of not taking advantage of the lucky and privileged si…

I think $1M net worth in the US these days is a nice little nest egg, but not anywhere near financial independence. Unless your needs are simple, you can relocate somewhere to live very cheaply, and you don't have any dependents.

People who don't take $1M net worth and use it to secure their simple needs somewhere that they can live cheaply (providing attention rather than financial capital to their dependents) are ironically the reason why $1M net worth isn't anywhere near financial independence. Such people provide an outsize contribution to the bidding-up of costs, because instead of thinking, "This is probably it, I better be careful," they're pushing for the next rung on the ladder and willing to "invest" at high prices, with the expectation of a return.

Re: The Silicon Valley Founder Meat Grinder

#137

Post by koolba »

FinnLobsien wrote: post #21

I think much of this comes down to wanting to be a type of person vs. wanting to do the actual thing. It’s easy to be consumed by “I’m the wealthy San Francisco founder guy” and doing everything that lifestyle requires, including things that may not be good for you.

The open source version of this has existed for decades as well.

There’s the doers that actually enjoy the craft, want to share what they’ve done, and contribute to things they genuinely find intellectually stimulating.

And for each of those true believers there’s many more fly by night wannabes that think it’s some kind of shortcut to social validation.

Re: The Silicon Valley Founder Meat Grinder

#138

Post by bumblehean »

sfRattan wrote: post #104
mordechai9000 wrote: post #67

Earlier quoted context omitted.

I think $1M net worth in the US these days is a nice little nest egg, but not anywhere near financial independence. Unless your needs are simple, you can relocate somewhere to live very cheaply, and you don't have any dependents.

> Unless your needs are simple, you can relocate somewhere to live very cheaply, and you don't have any dependents. As a human, your needs are simple[1]. With a $1M net worth, you can relocate somewhere to live very cheaply. And your dependents can live in that same place, also cheaply. All you need to do is show the Joneses the door out of your mind and never let them back in, nor look toward their lives in envy. [1…

I think there's a large middle ground between relocating somewhere undesirable (or to a developing country) just to stretch your money as far possible vs "keeping up with the Joneses".

Even if your goal is financial independence, it's reasonable to not drastically decrease your existing standard of living just so you can retire _now_.

Re: The Silicon Valley Founder Meat Grinder

#140

Post by [deleted] »

eastbound wrote: post #88
RivieraKid wrote: post #39

It's really hard for me to understand that people who have the chance to achieve basic financial independence (say $1M net worth) don't take that chance and make sure to stay financially independent forever. If you do that, you're almost guaranteed to stay in the top 2% globally for the rest of your life. You've made it in life, at least financially. The approach of not taking advantage of the lucky and privileged si…

> don't take that chance and make sure to stay financially independent forever. What means do you see? Buy some S&P500 ETF and live off the interest rate? That seams easy but without investing in AI, you’re at risk of AI making the existing economy irrelevant, it’s the same as having all investments in local craftsmanship in 1700 and the steam machine happens, except much faster. And move to [insert home country]? (W…

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