Earlier quoted context omitted.
Why? Especially SV has lots of tiny bungalows were you could build skyscrapers.
Mostly local red tape, zoning laws, and NIMBYism
Yes. And that's the problem. Not the foreigners.
Secondary shops flooded with unicorn sellers
141–150 of 158 posts
Re: Secondary shops flooded with unicorn sellers
#142I wonder if this will increase or decrease my chances of getting hired.
I guess decrease. Fewer companies will be hiring, and some of the best people who went to unicorns for their prospect are now back in the market, outcompeting the ordinary ones waiting for a new/better job.
Re: Secondary shops flooded with unicorn sellers
#143Earlier quoted context omitted.
No. The people at the top providing the money for this circus are the ones with the power to stop the music, and they're stopping it because the companies they funded aren't performing. You actually can't just keep dumping money into companies that are doing nothing but burning it. But, yes, for the record, I do want the bubble to burst, because the world has real problems and I just got a cold recruiting email from…
>"Silicon Valley" is a spectacular, world historical squandering of brain power and it needs to stop. Are you implying that there are less-frivolous actors offering competitive salaries and getting ignored, or that SV is inflating the price of programming labor? Because if the latter, and you're hoping for a correction of programming salaries down to lower-middle-class clerical work that humanitarians can afford, won…
There are a few factors at play here that have led to high salaries for engineers.
First, the aforementioned funding bubble.
Second, a correction to depressed wages due to collusion between the big tech companies.
Third, increasing demand for tech workers in historically non tech sectors (Eg. Home Depot has mobile apps for home improvement).
I have no idea what the attribution split is. But I'm fairly certain wages will be propped up in the event of a funding collapse.
Re: Secondary shops flooded with unicorn sellers
#144Earlier quoted context omitted.
I'll nail it down a little for you. I think it's going to be within two years, based purely on asset valuation : income ... which isn't a particularly sophisticated way to analyze it, but when people can't afford things anymore, they stop buying them, and that has predictable effects.
If you strongly believe this, you could do something similar to what the guy did in 'The Big Short', short the relevant markets within your timeframe and you'll be recession proof.
That forgets the primary lesson of the film: markets can remain irrational longer than you can remain solvent, and doubly so for rigged markets.
Re: Secondary shops flooded with unicorn sellers
#145Earlier quoted context omitted.
>"Silicon Valley" is a spectacular, world historical squandering of brain power and it needs to stop. Are you implying that there are less-frivolous actors offering competitive salaries and getting ignored, or that SV is inflating the price of programming labor? Because if the latter, and you're hoping for a correction of programming salaries down to lower-middle-class clerical work that humanitarians can afford, won…
That's a great question. There's always going to be more money in causing suffering than fixing it, so maybe all of this is just inevitable.
>There's always going to be more money in causing suffering than fixing it
How?
Re: Secondary shops flooded with unicorn sellers
#146Earlier quoted context omitted.
Heh, I'm not 'poor' but how in the hell is 199k/year not 'wealthy'?
http://www.newblackmaninexile.net/2011/10/they-aint-wealthy-... "Shaq is rich; the white man that signs his check is wealthy. Here you go Shaq, go buy yourself a bouncing car. Bling-Bling . . . . I ain’t talking bout Oprah, I’m talking about Bill Gates. OK!. If Bill Gates woke up tomorrow with Oprah’s money, he would jump out a …window. I’m not talking about rich, I’m talking about wealthy - Chris Rock"
Google says Oprah's net worth is $3G, and Shaq's is $350M. If neither is "wealthy", then I guess the word is reserved for Bill Gates (but not that "white man signing Shaq's check", in all likelihood.)
If he weren't a comedian, I'd say Chris Rock is so full of shit it's not even funny, but I guess they're two separate things (meaning that in this instance he's objectively full of shit, but that has nothing to do with him being subjectively not funny to me; there are other comedians who're just as full of shit, but I still find them funny.)
Re: Secondary shops flooded with unicorn sellers
#147Earlier quoted context omitted.
I too assumed this limitation was widespread. But if unicorns are high-valued private companies, and there is a secondary market for their stock, then surely some holders are not restricted this way. Anyone know why / what triggers that? When is it typical for stock granted to employees to actually be resellable?
Depends on the terms under which the employee is issued stock. From a 2014 article[1]: Two months ago, an early Uber employee thought that he had found a buyer for his vested stock, at $200 per share. But when his agent tried to seal the deal, Uber refused to sign off on the transfer. Instead, it offered to buy back the shares for around $135 a piece, which is within the same price range that Google Ventures and TPG…
The ability for a company to force you to take a lower price is new to me. Besides Uber, has anyone heard of this happening elsewhere?
Re: Secondary shops flooded with unicorn sellers
#148Earlier quoted context omitted.
I'd just keep your LinkedIn profile up to date with a clear indication that you might have an interesting amount of stock (co-founder, executive, early employee, etc.) and that you're no longer with the company. When secondary brokers have more buyers than sellers of a particular private stock, they come looking for you - and that's the time when you want to do your selling, not when people are freaking out and you'r…
Understand how this could help you find a buyer, but if I were in this situation I'm not sure whether I'd want to put that on my LinkedIn profile.
Putting your title or the fact that you were one of the first employees at a company on your LinkedIn profile is pretty common, no?
Just to spell it out - that's the perfectly clear indication, not 'oh hi I have 125,000 shares of X to sell'.
Re: Secondary shops flooded with unicorn sellers
#149Earlier quoted context omitted.
Side note: You're considered an "accredited investor" if you made $200k/year in each of the prior two years and expect a similar income in the current year. https://www.investor.gov/news-alerts/investor-bulletins/inve... So, not necessarily just "wealthy" individuals.
That's pretty wealthy by most standards, isn't it?
Yes, except in places like SF. That sort of income wont afford you more than a 1br (assuming you want to buy.)
Re: Secondary shops flooded with unicorn sellers
#150Earlier quoted context omitted.
>"Silicon Valley" is a spectacular, world historical squandering of brain power and it needs to stop. Are you implying that there are less-frivolous actors offering competitive salaries and getting ignored, or that SV is inflating the price of programming labor? Because if the latter, and you're hoping for a correction of programming salaries down to lower-middle-class clerical work that humanitarians can afford, won…
There are a few factors at play here that have led to high salaries for engineers. First, the aforementioned funding bubble. Second, a correction to depressed wages due to collusion between the big tech companies. Third, increasing demand for tech workers in historically non tech sectors (Eg. Home Depot has mobile apps for home improvement). I have no idea what the attribution split is. But I'm fairly certain wages w…
What? Where are people going to get the money to pay higher/equivalent salaries if not funding?
The non-tech sector seems perfectly content to pay engineers 60k under constant threat of outsourcing. In the absence of Silicon Valley competing for talent they'll get away with less, not more.