7 ms·
doesn't really make sense, the NYC area is starving for talent + I dunno where they got it, but most techies in this area aren't that entrepreneurial. chances
by vaksel 15y ago
doesn't really make sense, the NYC area is starving for talent + I dunno where they got it, but most techies in this area aren't that entrepreneurial.
chances are this will end up driving salaries up by 10-15%, and will end up hurting most of the startups here by making it infinitely harder to hire/retain talent
A smarter move for them would be to open an office in Boston, since then you'd be able to tap into all those grads from MIT
- shakes 15y ago> most techies in this area aren't that entrepreneurial. I'm not sure where you get that idea? I've had the exact opposite experience in NYC. I think the tech scene is very entrepreneurial... IMO, it's why you see lots of people gravitating towards places like GA.
- kilovoltaire 15y agoGeneral Assembly, or Georgia?
- shakes 15y agoHa, General Assembly :)
- gfodor 15y agoThere might be a tipping point when the big tech companies decide jack up the offers high enough to be competitive with finance. Once that threshold is crossed, I'd imagine you will see a flood of smart people fleeing the financial sector to do something more rewarding with their lives.
- rdouble 15y agoThe tech companies already do have offers high enough to be competitive with finance. On another note, I do not know why working at Facebook would be intrinsically more rewarding than working at Jane Street. Finally, the finance skill set is not quite the same as what is needed at Facebook. They would be more likely competing with startup companies and Google NYC.
- natesm 15y agoIsn't Jane Street a little... unique? Most banks don't write blogs about OCaml, right?
- gfodor 15y agoI'm speaking from the anecdotal evidence that most engineers I know in finance are pretty miserable sans the fact they make barrels of money.
- rayiner 15y ago> On another note, I do not know why working at Facebook would be intrinsically more rewarding than working at Jane Street. Because the former actually makes a useful product? > Finally, the finance skill set is not quite the same as what is needed at Facebook. At least at the entry level, the hiring is for credentials not so much skill set. There is a decent number of math/cs majors who end up in finance (not even necessarily something like computational finance, just state up IB or trading) instead of engineering.
- stbullard 15y ago>>the NYC area is starving for talent What area isn't? >>most techies in this area aren't that entrepreneurial There are enough - several of Facebook's most prominent product launches in the last year (new Groups, Timeline) have been led by PMs acq-hired from the NY-based startups they founded (drop.io, Hot Potato, Daytum). More importantly, Facebook's not a startup anymore: joining hardly requires an "entrepreneurial" appetite for risk on the hire's part. >>chances are this will end up driving salaries up by 10-15% Facebook can afford to pay a premium for talent, and they've demonstrated a willingness to do so (see above). This is a problem for other companies, not Facebook - which makes it a good, strategic move on Facebook's part. >a smarter move would be to open an office in Boston Despite starting at Harvard, Facebook has much stronger ties to NYC - including an existing 100-person marketing office.
- cbs 15y ago>most techies in this area aren't that entrepreneurial. Is an entrepreneur really going to want to work at facebook? They're a huge established player. Is facebook even looking for that sort of employee?
- evildeadxsp 15y agomy thoughts exactly. most entrepreneurs are less likely to be comfortable in a larger organization like facebook. i do agree that an office in Boston would make more sense for them.
- ori_b 15y agoFacebook is an advertising company. Many of their customers will be in NYC. It makes sense for them to open an office there.
- michael_miller 15y agoFacebook actually already has an advertising office in NYC right near Grand Central. The news is that they're expanding to include an engineering office in NYC.
- ori_b 15y agoHaving engineers in the same timezone as customers makes sense.