India
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1123
Ideal indian parents
Software Engineering Career
Yesterday
593
If your team does daily standups, your manager is a micromanager
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2h
1250
L4 Google -> 45 interviews, 5 offers, AMA
Tech Industry
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1039
Why doesn't OpenAI offshore and reduce expense by 80%
Tech Industry
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984
PM is irrelevant role and will die in next 2-3 years.
1. Uber and a few other startups have layoffs; stocks drop 2. WeWork goes ipo and crashes 3. Softbank and other funds deep in the red 4. Funds start writing off losses devaluing startups and leading to more write offs / losses 5. Many engineers enter market due layoffs and lowered TC (supply goes up with less demand) 6. Salaries drop, startup funding becomes tight, market has lost hundreds of billions Sound plausible?
Google at $117B, Apple $102B. Both have plenty to weather any impending storm.
Brb
You forget that RSUs automatically drop in value with stock price, so even people who are employed with get a pay cut. Just see DBX stock :(
Listen up people, it's only a bubble when everyone is leveraged to the max. Look back at dot com and financial crisis: mom and pop investors maxed out on debt to invest in stock and real estate. The crash happens when people are forced to sell to cover other obligations.
Uber needs to do lay offs, it’s the right thing to do for them, and that talent will easily be absorbed by other companies that are growing fast. In fact I’m hiring at google myself, so if you’re reading this... Who cares about WeWork .... it’s an overvalued Israeli office furniture startup 🙄. They’ll get bailed out by the Zuckerjew company anyway. Wouldn’t be the first time... Uber is softbank’s biggest investment. They should turn profitable in 18 months max. In that time other ride sharing companies that both Uber and SoftBank partially own will themselves turn profitable and go public. #4 might happen but it’ll be a blip. A few companies will get a tax write off (while us tech worker chumps pay almost half our money to Uncle Scam). #5 won’t happen. Be optimistic and enjoy the ride. AMZN stock is phenomenal, buy yourself some perks, subscribe and save. The supply/demand can become a problem but because of other reasons: immigration (if we get a dem 2020 maybe), or an influx of new CS grads. But still it might mean maybe a 15% drop in average TC. I like @itsdara’s post but remember recessions aren’t always caused by economic structural problems like we saw in The Great Recession. It can also be caused by wars, natural disasters, and other factors. Honestly the scariest thing unfolding right now is this Kashmir fiasco. The Indian govt is Hindu Nationalist... PM Modi is basically brown trump except more violent and less entertaining. Both have strong militaries and nukes 😬. We also have climate change issues... record breaking fires and hurricanes within 5 months. #6 can happen but not for reasons you describe. My biggest worry around this is tech saturation. What more is left to innovate? The world has been waiting on AR/VR for decades. Is it ever coming and will it get mass adoption like smartphones? If yes, we will have a huge new wave in tech where we will get paid loads of money. Blockchain went no where other than creating an online gambling platform. What’s left? Our entire lives are lived through our phones already....
Great post! I just want to say about your last point that there is still much to innovate. Tech comes in bubbles after a big innovation. The rise of the internet started the bubble in 2001. Smartphones led to the bubble that were still at the tail end of now. The next bubble might come from VR, AI, self driving, etc. It’ll take some time but there will be an explosion of change once someone gets it right.
Thanks. Yes but I’m saying we can’t assume we will keep getting new waves of innovation especially in quick succession like we have. What if it takes AR/VR much longer. We’d have a dry spell until then, right? Also you called them bubbles, but I see them as “waves.” Bubbles pop, a wave is an influx leaving the best remaining. So when these waves emerge, the VCs flood them with capital, most of them die out, and a few winners emerge, remain, and grow. I think self driving is part of the current wave of ML/CV. It’d let people spend more time on our phones, which is good for all of us here, but it’s not a huge new platform of innovation right?
Wow! It’s been a year since this poll was posted. The world turned upside down but the bubble turned out to be quite resilient!
Closer to 100 billion rn