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I think being salaried is a scam, so I run my own business. It really is that simple. The choice is there if people are upset about being salaried. Those who ar

I think being salaried is a scam, so I run my own business. It really is that simple. The choice is there if people are upset about being salaried. Those who are salaried and work 60 hour weeks + commute need to wake up and smell the coffee - if they are moderately good they would make bank self employed.

virgilp 6y ago
It's really not that simple. I made a small fortune being salaried. Would I have made the same money self-employed? Maybe, but I'm not sure - the risks are a lot higher (the rewards too, but like I said, far less certain).
- tonyedgecombe 6y ago
  I'm not sure the risks are that high. I mean in a downturn you might see revenue halve, if you work for someone else you might be the unlucky one whose salary drops to zero.
  - virgilp 6y ago
    Yes the risks are not that high, but neither are the rewards. Basically you choose to do something (marketing, sales, dealing with bad clients) over something else (meetings, corporate bullshit, dealing with bad managers). Maybe you get more financial upside on average (especially if you're good at marketing/sales) for slightly less security/peace of mind (as employee if you get sick, or have a child, you still get a salary; you can have paid vacations, etc). Sure, freelancer/consultant is a valid path, but only if you're good at (and enjoy) marketing & sales. Otherwise - you can get lucky to work for a startup that IPOs (or a company whose shares increase dramatically) and end up earning a lot more as salaried.
matwood 6y ago
> Those who are salaried and work 60 hour weeks + commute need to wake up and smell the coffee Despite the horror stories, particular those in the game industry, most are not working 60 hours/week. The most surefire way to make good money and become wealthy is by working at one of the FAANGs and investing. I know the startup founder is romanticized here and in the media, and in the rare cases when it works, it can be great. But, if you look at the risk adjusted value, startups are not very good. With that said, I prefer small companies/startups because I like the freedom and control that comes along. I know I'm leaving money on the table, but I'm getting things I value over money.
cweill 6y ago
Just curious: when you say "make bank" do you mean more than the $200-400k total compensation that people are pulling in at FANG companies? This is the thing that was never clear to me, or most salaried employees: how long would it take to get to that point as self-employed? The risk and opportunity cost seem way to high. Then again I don't know how to measure that risk...

virgilp 6y ago

It's really not that simple. I made a small fortune being salaried. Would I have made the same money self-employed? Maybe, but I'm not sure - the risks are a lot higher (the rewards too, but like I said, far less certain).

tonyedgecombe 6y ago
I'm not sure the risks are that high. I mean in a downturn you might see revenue halve, if you work for someone else you might be the unlucky one whose salary drops to zero.
- virgilp 6y ago
  Yes the risks are not that high, but neither are the rewards. Basically you choose to do something (marketing, sales, dealing with bad clients) over something else (meetings, corporate bullshit, dealing with bad managers). Maybe you get more financial upside on average (especially if you're good at marketing/sales) for slightly less security/peace of mind (as employee if you get sick, or have a child, you still get a salary; you can have paid vacations, etc). Sure, freelancer/consultant is a valid path, but only if you're good at (and enjoy) marketing & sales. Otherwise - you can get lucky to work for a startup that IPOs (or a company whose shares increase dramatically) and end up earning a lot more as salaried.

matwood 6y ago

> Those who are salaried and work 60 hour weeks + commute need to wake up and smell the coffee Despite the horror stories, particular those in the game industry, most are not working 60 hours/week. The most surefire way to make good money and become wealthy is by working at one of the FAANGs and investing. I know the startup founder is romanticized here and in the media, and in the rare cases when it works, it can be great. But, if you look at the risk adjusted value, startups are not very good. With that said, I prefer small companies/startups because I like the freedom and control that comes along. I know I'm leaving money on the table, but I'm getting things I value over money.

cweill 6y ago

Just curious: when you say "make bank" do you mean more than the $200-400k total compensation that people are pulling in at FANG companies? This is the thing that was never clear to me, or most salaried employees: how long would it take to get to that point as self-employed? The risk and opportunity cost seem way to high. Then again I don't know how to measure that risk...