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really not sure what you're getting at and how this is connected to the pandemic. Contrary to what HN may peddle, "startup" is not an industry. Many startups ar
by zemo 7y ago
really not sure what you're getting at and how this is connected to the pandemic. Contrary to what HN may peddle, "startup" is not an industry. Many startups are in industries that are doing extremely well right now. E.g., with people spending so much time inside, online entertainment in all its varieties is thriving.
- fermienrico 7y agoI am just speaking in general - nothing to do with this pandemic. If we look at the difference of company culture in say Munich, Boston, Osaka, etc vs. Silicon Valley; there is a huge amount of waste: Airbnb Office: https://www.google.com/search?q=airbnb+offices&client=firefox-b-1-d&source=lnms&tbm=isch&sa=X&ved=2ahUKEwiWw_WOrcHoAhUEP30KHXp5AuAQ_AUoAXoECBYQAw&biw=1920&bih=921 https://www.google.com/search?q=airbnb+offices&client=firefo... I am sure there are exceptions but I am commenting on what I perceive as a person living in the silicon valley. "Start up" companies - meaning the unicorns - sink a lot of money into things to attract people. What they have a simple office and benefits, provide more pay to the employees or invest back into the company to increase leverage? I also heard that Airbnb CEO was grilled by the board for all this spending, quoting WSJ [1] > Executives were grilled at a board meeting late last year on why overheads such as its head office and employee expenses had been allowed to balloon, outpacing even the then-rapid growth in revenue. [1] https://www.wsj.com/articles/airbnb-racks-up-hundreds-of-millions-in-losses-due-to-coronavirus-11584723498 https://www.wsj.com/articles/airbnb-racks-up-hundreds-of-mil... This seems to be a pattern in silicon valley. Get a ton of VC money, spend it on nice stuff because profitability is 10 years down the line.