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Instagram’s Co-Founders Said to Step Down from Company
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Re: Instagram’s Co-Founders Said to Step Down from Company
#52Earlier quoted context omitted.
I was shocked to discover that many people making salaries amongst the highest percentile in the world are indeed a few months without paychecks away from being in an unpleasant financial situation. I’m not too sure what the overarching reasons for that are, but my guess is that lifestyle inflation is very real, financial education isn’t very common, and many people focus on the wrong abstractions (ie decision making…
When you have 1.5 - 2M mortgage which is super common among my friends in CA, a few months without paychecks is totally unacceptable.
Yea, people who don’t live here have no idea how expensive it is. Based on how much I make, my rural east coast parents, bless them, probably wonder why I live in a home 1/2 the size of theirs with a 50 mile commute, and not a castle with a 7 car garage. Bay Area prices and taxes...that’s why!
Re: Instagram’s Co-Founders Said to Step Down from Company
#53Earlier quoted context omitted.
The ability to buy the next big thing is far from guaranteed.
Facebook has the power to know what the next big thing is, maybe better than those building it. Reading up on onavo is terrifying.
I'm sure Google will be willing to beat anything that Facebook offers for the next rising competitor just to hurt them.
Re: Instagram’s Co-Founders Said to Step Down from Company
#54I wonder what's Facebook's move after Instagram becomes stale and no longer "cool". It seems to me that the popularity of social networks are cyclical, and there's very little that a company can do to satiate a user's appetite for something new. That's before we discuss future regulatory troubles Facebook might face. What future revenue streams does Facebook have? Are they even capable of creating something new that…
They have over 2 billion monthly active users. This is a global penetration rate that is the best in the world. They have done something that no other company in the world has done. They are relevant to basically the vast majority of all Internet users in the world. To say they are the least stable or that their power over most humans is waning is, quite frankly, ludicrous. To put it in perspective, they would need t…
No, a lot of people hate Facebook. John Oliver has been talking about it.
Re: Instagram’s Co-Founders Said to Step Down from Company
#55Earlier quoted context omitted.
> this might be the new standard for tech companies. Unfortunately, I believe this is just hopeful ambition that won’t become a reality. The majority of folks I meet in tech tend to be a paycheck or two away from financial catastrophe and generally shy away from rocking the boat. A small percentage have their house in order, and those are the folks that have the luxury to resign so quickly when they have moral/ethica…
I was shocked to discover that many people making salaries amongst the highest percentile in the world are indeed a few months without paychecks away from being in an unpleasant financial situation. I’m not too sure what the overarching reasons for that are, but my guess is that lifestyle inflation is very real, financial education isn’t very common, and many people focus on the wrong abstractions (ie decision making…
That, and rent that's well over 50% of your monthly income, to have a 1 bedroom apartment miles from anything.
Re: Instagram’s Co-Founders Said to Step Down from Company
#56Posting anon.
In 2009, the startup where I was working was hitting the skids, and our investors (correctly) were not willing to back us. We all kept grinding for a month or two in honorable futility, but after a while, my bank account depleted and I had to go.
To make various ends meet and to keep my mental health during the wind down however, I took up some contract work that I found through various friends in the SF startup scene. One company that I really liked and did some small stuff for was Burbn, which was a mobile-only location check-in that was hinged around taking photos of your location.
Missing my friends in NYC (I made a lot of friends in SF, but my inner circle were my college buddies from CMU; I went to tech and they went finance, sigh), I decided to leave SF to head to NYC and get a fresh start.
As I was leaving, I wanted to tie up a few loose ends, so I emailed my contact at Burbn and said I was likely to be unavailable for any more work, but that I liked the project and hoped for the best for him. He responded and said that he was near funding on a small pivot, and that if I was interested, there might be a full-time role available. I declined - I was mentally done with SF and the startup scene (Larry Chiang, 111 Minna, the rise of FB spam-crap like RockYou, etc.) as it was then.
That person was Kevin Systrom; that pivot was Instagram.
Re: Instagram’s Co-Founders Said to Step Down from Company
#57I wonder what's Facebook's move after Instagram becomes stale and no longer "cool". It seems to me that the popularity of social networks are cyclical, and there's very little that a company can do to satiate a user's appetite for something new. That's before we discuss future regulatory troubles Facebook might face. What future revenue streams does Facebook have? Are they even capable of creating something new that…
I think the next big thing for FB is VR. If VR becomes mainstream soon (and I think it will) and FB lead the space with Oculus, then their future is bright.
Re: Instagram’s Co-Founders Said to Step Down from Company
#58Earlier quoted context omitted.
Facebook is here to stay. They are not Myspace. They are following the model of many of the tech companies that survive. If they can't copy it they will buy it. They have enough revenues that they can buy any hot startup and nurse it to success. Zuckerberg will likely be CEO for at least the next 10 years and has shown that he can learn from mistakes and continue to succeed. He's one of the few that has learned his w…
Facebook is dead. They have lost all momentum. The older people that have not moved on to snapchat or Instagram are exactly those that will be flummoxed by the changes.
Facebook owns Instagram, and Instagram Stories is eating Snap's lunch.
I'm sure they'll be okay.
Re: Instagram’s Co-Founders Said to Step Down from Company
#59Earlier quoted context omitted.
Why would you guess that when a FB spokesperson doesn’t have a prepared comment about this massive change in leadership?
How many pre-announcements must a person make before they are sufficiently prepared for an actual announcement? This is already a pre-announcement of the announcement of the resignation, because this info is leaked from within Instagram
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Re: Instagram’s Co-Founders Said to Step Down from Company
#60Posting anon. In 2009, the startup where I was working was hitting the skids, and our investors (correctly) were not willing to back us. We all kept grinding for a month or two in honorable futility, but after a while, my bank account depleted and I had to go. To make various ends meet and to keep my mental health during the wind down however, I took up some contract work that I found through various friends in the S…
Might be worth reaching out and saying best wishes.
Short & sweet. Not for any ulterior motive, just out of the spirit of an old, forgotten friendship.