2 ms·
I 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
by fermienrico 7y ago
I 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.