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It has nothing to do with taxation - or else the Arab Gulf or Cayman Islands would be entrepreneurial hubs, not California or the Toronto area. It’s all about t
by dkga 4y ago
It has nothing to do with taxation - or else the Arab Gulf or Cayman Islands would be entrepreneurial hubs, not California or the Toronto area. It’s all about the price of quality labour. It’s about access to long-term risk capital (aka venture funds) + high quality labour at affordable prices. As in, entrepreneurs having cash to fund projects and being able to actually hire people that will help build them. Try hiring a hundred software engineers in Norway: your hourly cost would probably blow up. The low-tax destinations are the place billionaires go to park their wealth, not create it (for example, outside of Tech Nordic billionaires move to Switzerland after they get rich)
- Annatar 4y ago[dead]
- pcl 4y ago> Try hiring a hundred software engineers in Norway: your hourly cost would probably blow up. Depends what you’re comparing to. Total comp for great engineers in Oslo is lower than for their peers in Silicon Valley.
- htkibar 4y agoTotal cost to the company may not be. Employees are costlier to the companies in Europe.
- winReInstall 4y agoAlso you get really great engineers in norway, something about the lack of light, cold, snowy eternal night, produces excellent devs. Lots of fantastic open source projects exist due to the vikings no longer using boats..
- FpUser 4y ago>" Try hiring a hundred software engineers in Norway" They're not particularly cheap in the US either. Toronto might be better but hi-tech salaries are going up as well.
- KptMarchewa 4y agoYou can get 100s of SWE in Poland (or Ukraine pre-war) way cheaper than US, yet extreme cases of tech startups like FAANGs will never happen because market is too small.