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The advice is to hire the best workers. But by definition, not everyone can be the best. So, say all the firms are bidding up the best talent to their true 10-2
by Raphael 17y ago
The advice is to hire the best workers. But by definition, not everyone can be the best. So, say all the firms are bidding up the best talent to their true 10-20x values (and giving them interesting projects), as the author suggests. The market adjusts, and it becomes economical again to higher a massive team of average workers with management and space. You might have to set your goals lower, if you can no longer expect leaping innovation that only a genius could make. But it's way easier to find and replace average talent. If they can actually do the job, and your business is expanding, then you can raise compensation to at least maintain morale.
- tomjen2 17y agoThe problem is that with software stuff only have to be written once and the marginal price is as close to zero as it will ever get for just about any product. Which means that the company that pays the highest salary will produce software that is better than the competition and the cross them in the process. In other words, companies will die if they don't hire programmers as least as good as those who can compete with them. And the programmers can start their own companies at any time, if they so choose.