During 2021, the crazy offers came from: 1. Facebook 2. Stripe 3. Instacart 4. Databricks toward 2022. 5. Roblox post IPO 6. Fintechs like affirm, chime etc 7. Amazon toward the end after they realized they were running out of engineers. 8. Robinhood 9. Snap 10. Coinbase Most of them have been shown to be badly run companies with fundamental business model issues Is this a pattern?
So you want people to confirm Google is well run, YES, there you go
Why is databricks poorly run?
Failed to IPO during hot IPO market.
Snowflake IPO flexed on them too hard
Agreed. Opendoor used to hire L4 Google engineers at staff level. We're now fighting bankruptcy.
Lol
It was well run until bezos went full hype -- hired huge numbers into Alexa, medicine, grocery, whole foods, India expansion. Aws success got to him and he thought he was a genius. In reality he was just really lucky with aws
Of course he was lucky, 🤦
That’s exactly why I didn’t choose Meta or Amazon despite them being my two highest offers. Money isn’t everything past a certain point.
How much did Crowdstrike offer you?
Old account. Not at CRWD anymore. We work together now, my friend.
yes 1) Being a high-paying large company means you put a lot of money and effort into hiring, which probably means you overhire people. This leads to - Dysfunction and coordination cost - Spending a lot of money - Layoffs By the same token, overhiring people forces you to offer more money, to fill your ranks with people. 2) It also attracts a lot of people who are primarily motivated by TC, and are ambitious and competitive. Especially once a company gets famous on Blind, all those people apply at once. Raising the compensation and "hiring bar" while interviewing like FAANG just gets you really smooth talkers who overprepare for FAANG interviews. Many are selfish people with no integrity who care only about making money for themselves. 3) Overhiring people with no real purpose is correlated with managers who want to build empires and don't care about wasting company money. Once you are there you have already lost.
The fact you have Instacart on the same list as FAANG kind of make me chuckle 🤭
It’s the highest paying companies but hiring leetcode and interview prep monkeys with their stupid interview process. These hires generally don’t add any value and only satisfaction these hiring managers get is I have hired so and so from X company who is very smart. You either have a great process like google or hire like apple where they hire skill set.
????????????????? How does google have a great process? Its the same lc + sys design like 60% of companies op listed
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I wouldn’t say it’s 100% correlated, it might be industry specific (tech). Hft also gave crazy offers the last few years and they are still having banner years this year. In the long term though, generally what I’ve observed is that title inflation and pay inflation leads to productivity decrease for the company Title inflation does this by making it challenging for IC who truly understand the details and workings of the company to be promoted, because people that came in with inflated titles don’t feel good about being less knowledgeable than their direct reports or people lower in terms of titles. It rewards politics. Pay inflation does this by basically making the person psychologically perceive hard work is not as important as getting lucky
Totally agree about title inflation.
How is affirm doing?