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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

#171

Post by iancmceachern »

nicenewtemp84 wrote: post #144
iancmceachern wrote: post #123

Earlier quoted context omitted.

It's the cost of living. The cost of living in the SF baybarea is 79% above the national average. A living wage is simply more here because it costs more to live here.

If all the major employers in the area cut wages down to $80k, wouldn't the cost of housing be forced down too? Who can buy a house for 2.2 million when making $80k. And on a side note, there are many companies in the area that pay $80k and less, oil change mechanics for example. So it's not like you MUST pay that SV wages because cost of living is high. I have a feeling it is due to high demand for those workers.

It doesn't work that way, you can't control markets from the top down. You are right, it's a supply demand thing. A company needs to hire 100 engineers with a specific skillset in x number of months, so they come here where there are enough engineers to hire in that skillset in the local talent pool, then they make offers to engineers until they get enough engineers, if they don't get enough they need to increase their offers. It's a simple market like any other. It's simple, yes the cost of living on the middle of nowhere Ohio is less, but you can't hire 100 engineers with specific skillsets and experiences, you need to move them there, or build them from students. So a person living here wouldn't accept an offer that doesn't allow them to live and thrive near their workplace. If the cost of living were less they would be more willing to overlook the compensation for other factors, but for most tech workers who are not independently wealthy because the cost of living is so high, it forces us to expect compensation that is aligned with that high cost of living.

Also, SF is already over 60% rent controlled housing, so the cost of living for over 60% of the population is already being artificially reduced beneath the market. It's also interesting to note that the income level to qualify for rent controlled/stabilized housing is 77-160k a year depending on household size.

It's astonishingly expensive to live here compared to much of the rest of the country

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

#172

Post by cjf101 »

boc wrote: post #135
iancmceachern wrote: post #121

Earlier quoted context omitted.

We also have to pay a lot more out of pocket for basic services like healthcare,, transportation, childcare, etc.

You’re paying for healthcare at a tech company? Usually your company provides this as a benefit. Same for commuter subsidies.

Outside of FAANG experience.

Dental plans rarely cover anything more than basic maintenance costs. One procedure and you can end up pretty deep into pocket.

If you require regular medication, that can run pretty deep over a year too, since pharmacare plans have copays.

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

#173

Post by bombcar »

NeverFade wrote: post #129
zzzeek wrote: post #98

Earlier quoted context omitted.

[flagged]

In 2022, a 5-year peak year, 313 people in the entire US died from active shooters: https://www.cbsnews.com/news/active-shooters-fbi-report-2022... That's out of 330 million total population.

In 2020, 687 people were killed in railway accidents in the EU, being Poland the country with the highest number with 148 fatalities, followed closely by Germany with 137.

https://www.statista.com/statistics/1192970/europe-railway-a...

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

#174

Post by wing-_-nuts »

M3L0NM4N wrote: post #35
choeger wrote: post #33

Earlier quoted context omitted.

In Germany, it's not the social system per se but it's aoparent utter ineffectiveness. We're paying more and more every year but the state/public system seems to fail everywhere and worse so than the year before. It's like the money is completely sucked up by some unproductive black hole. And no, it's not because of reduced taxation from rich to working class, or missing taxes on property or some other policy. These…

That is, in my opinion, by far the strongest argument for lower taxes. The money we (the US) do spend in education/healthcare/infrastructure is already poorly utilized, why would we want to spend more and end up like that? To simplify it dramatically with an example, I'd rather pay $3 on the toll road and $50k for a surgery myself than pay $10 in taxes towards the road and $100k in taxes towards the healthcare system…

Well, if you understood what we already spent on healthcare you'd know that we spend more per capita than everyone and we have an entire industry whose whole existence is siphoning off their cut of profit from every little transaction.

So yeah, I'd rather have single payer healthcare, and we can just fire all of the leeches.

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

#175

Post by memonkey »

lghh wrote: post #159
boc wrote: post #135

Earlier quoted context omitted.

You’re paying for healthcare at a tech company? Usually your company provides this as a benefit. Same for commuter subsidies.

Even with best-in-class health insurance in the US, one "gotcha" leaves you with an unpayable bill. Usually, your company provides health insurance. Health insurance != health care. Larger companies (I assume this translates to tech) will also usually have a clinic on-site for smaller things and it's heavily subsidized or free. None of this prevents you from 6-figure debt for something like a difficult, but largely b…

You can also have the best-in-class health insurance and flat out be denied coverage for whatever reason the insurance provider says.

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

#176

Post by krger »

userabchn wrote: post #113
Animatronio wrote: post #58

Earlier quoted context omitted.

Yes, but suppose there's a "road company" you'd have to pay a toll to. Obviously they love profit margins and since they're a monopoly (they own the road) the toll would soon balloon to $20 then $35 then $100.

I think landowners should declare a value for their property, that is used for taxation, but also allows anyone to immediately buy the land from you at that price. This would allow rival road companies to quickly purchase the land necessary to build an alternative road. Such wasteful duplication would rarely happen in practice, though, because the knowledge that they do not have a guaranteed monopoly, that another co…

>I think landowners should declare a value for their property, that is used for taxation, but also allows anyone to immediately buy the land from you at that price. This would allow rival road companies to quickly purchase the land necessary to build an alternative road.

I don't really think "Yankee Swap" is the best model for land management, my guy.

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

#177

Post by strongpigeon »

swamp40 wrote: post #168
Demoloto wrote: post #30

Then move if you don't like a social government... You do understand that USA rich people living of the life's of the poor? No proper health care etc for people cleaning their flats or flipping their burgers...

Not true at all. In fact the poorer you are, the better health care you get - all free. It's the middle class who get crushed in America. $2000/mo insurance with $5K deductibles for a family of 4.

People are often unaware of this. I was really surprised to learn that my health insurance was completely free in WA (Apple Health/Medicaid) when I quit my job. Health insurance affordability is really U shaped as you're implying and that chasm can be hard to cross.

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

#178

Post by iancmceachern »

boc wrote: post #135
iancmceachern wrote: post #121

Earlier quoted context omitted.

We also have to pay a lot more out of pocket for basic services like healthcare,, transportation, childcare, etc.

You’re paying for healthcare at a tech company? Usually your company provides this as a benefit. Same for commuter subsidies.

I'm not paying the premium for health insurance, no. But I am paying 200 a month to upgrade to "platinum", I'm paying 400 a month because Blue Shield lists a lifesaving medicine I've been on for 2 decades as a tier 3 drug, so I had to battle with them for 3 weeks to get them to "cover" it at 400 a month out of my pocket. I then have a 4k per family deductible we need to reach on top of the drug co-pays. So when my wife thought she broke her toe it cost is 1500 out of pocket. This is the absolute best, top tier platinum" insurance afforded me administered by a "non profit" that was stripped of much of its non profit status for making billions in profit.

All that adds up to 7204 out of our pocket per year before any sort of catastrophic or even regular event like childbirth.

And we're the lucky ones

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

#179

Post by aledalgrande »

fmajid wrote: post #21

Many are going to start their own startups and the seeds for the next Cambrian explosion are being cast today, just as they were in 2001–2003 or 2008. That said not all Big Tech employees can deal with the hustle required at a startup.

Most big tech employees are not startup people. That's why they work at big tech.

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

#180

Post by afthonos »

soperj wrote: post #152
fullshark wrote: post #93

Earlier quoted context omitted.

Too early to spike the football over that, OpenAI got outfoxed on Dall-E illustratively and ChatGPT's best chance for monetization remains as a feature for MSFT services, not an independent entity.

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.
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