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I would estimate that the typical software developer working over that 10-year period and putting the money into either S&P 500 or a house saw an increase of $1
by doublement 7y ago
I would estimate that the typical software developer working over that 10-year period and putting the money into either S&P 500 or a house saw an increase of $1M in their net worth.
- tempsy 7y agoAnyone could’ve done that living anywhere. It’s not particular to living in SF.
- doublement 7y agoYou are moving the goalposts. A moment ago you were saying it wasn't happening in SF, now you're saying it happens everywhere.
- tempsy 7y agoUh no. My point was that being a tech worker in SF, even at a “unicorn”, does not automatically mean you’re going to be rich, and that anyone who invested their savings in public equities available to anyone could’ve turned a modest amount of capital into something much larger without having anything to do with SF or working in tech.
- doublement 7y agoThere's a huge difference between an average person in a random place investing $10K left over after their bills are paid, and an SF tech employee working with at 5-10 times that amount.
- tempsy 7y agoAgain depends. Not everyone is working at a FAANG, meaning if they have been working at private tech co yet to IPO then their equity comp is all illiquid so they don’t necessarily have a ton of cash.