What is happening to Silicon Valley with the stock markets being all time high and super high valuations for pre ipo companies. 1. Snowflake touching 12B which is 3X of the previous valuation. 2. Uber which had so many issues with respect to profitabilty getting close to its IPO price. 3. 1 Trillion marketcap is the new 100B with companies crossing 1T left right and center. 4. Snap, Pinterest, Lyft and even Twitter is doing good stock wise. 5. 500K salaries for Software Engineers is the new norm. its like 100K in the past. Entry level SWEs can get 200k plus salaries. 6. 2Million dollar houses are like the 1M dollar houses in the past. 7. People finding blind more interesting than other social media. They check for notifications, likes and follow high TC post more than FB, Insta, TWTR and other social media. 8. Leetcode is the new verb of the day like what Google was in the past. “Have you leetcoded that problem”? I feel we need to make the best use of this period while it lasts as this might be short lived. Who knows? Any thoughts? TC 480k, LinkedIn staff
How do I get 500K?
Even I don’t get 500K. That’s a figure of speech. But in general 500K is easily achievable for high senior and staff level positions in many companies.
What percentage of people at company can be at that level? 10 , 20, 30 percent tops? Everyone can't get 500 k Most companies won't even pay it.
Uber is close to IPO valuation because they claim profitability (adjusted) this year
Wow... the most well crafted post i have seen. Well done OP
Thanks 🙏
Are these companies generating revenue and making profit? Are they proportional to the market cap?
The thing is, we are in a bubble in the short term but Tech is extremely valuable. We saw it in the 90s, but marketing got ahead of technology. We see it now, and again I think promises are ahead of where we are. This will cause a crash at some point but in 20 years we will be higher than today. The number of good engineers is not that high and the economic value we can drive is huge. 500k for a good senior dev is a steal.
There are maybe 10x more floating/available dollars than there were in 2007. I used to joke that this might happen, but didn't really think this might come true. People have been anticipating another crash but the money printing keeps kicking that can further, making prudence look stupid.
Printing for how long ? Imagine what will happen when it stops
Who's asking?
It definitely feels money is more accessible than past. My observation is if one has stayed longer than 5 years at a company it might be worth interviewing unless you are growing vertically in the company. Also having a sell plan on tech company stock would help.
Linkedin staff is the biggest bubble of the century
Yeah right! MSFT’s stock gains is a bubble. Uber is currently severely undervalued. It should be 5X of what it is valued now. Also everyone one of you should get 100K more TC for bringing in so much revenue and profits.
I mean these 4 yoe lnkd"staff" running around claiming they are "industry veterans" during interviews
Some of this is just the result of inflation.
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Perhaps tech stocks are overvalued in the short term (as is most of US evonomy) but not long term. Real estate in nice areas is a fairly safe investment I think. The people who buy expensive homes in Palo Alto are the kind of people who aren’t going to be hurting too much if valuations come down.