5 ms·

this article fails to answer the question ... where are they going now, if not wall street?

by kevinkimball 12y ago

dccoolgai 12y ago
Doesn't answer directly, but it does say: And partly because tech looks just as, if not more, lucrative.
- kokomo 12y ago
  where do you all believe the bay area is now on the startup/tech bubble roadmap? i'd think the bubble blown will be smaller due to VCs and Angels having learnt their lessons over the past decades - while not terribly smaller on account of New Angels and Corporate Venture Funds clamoring aboard. of course, there are more tech hubs globally too siphoning off some of the previous "bay area tech bubble" effect... i believe it's a smaller bubble, but nevertheless a rekindled one. many folks have gold miner fever out here... ken, incubation hub
  - hga 12y ago
    "i'd think the bubble blown will be smaller due to VCs and Angels having learnt their lessons over the past decades" A lot of bubbles get really bad when things get so frothy that people without sufficient background jump in. E.g. the 1929 stock market crash and junk bonds in the '80s ... although there was also government action involved in both of those.
    - tsotha 12y ago
      And real estate. When the guy in the next cubicle at work starts flipping properties you know it's time to get out.
  - stuki 12y ago
    One threat that is getting bigger in the Bay Area, is the ever increased concentration and dependence on start ups. Most of whom are not living of anything remotely resembling cash flow. The tech eco system itself is one thing, and largely populated by people who can afford a bit of a hit. But nowadays, everything is priced and organized around ever more millionaires being minted in tech every day, and the spending these generate. Take even some of that away, say by making money less artificially cheap, and there is potential for plenty of pain and dislocation across the area. Much like Finance in NYC, the tech boom/bubble is driving costs so high in the Bay Area, that the only remaining jobs are either in tech, or jobs providing highly paid, localized and personalized services to tech workers able to afford paying thousands to have their toenails clipped, lips kissed and walls decorated with Van Goghs. Leaving those providing the latter, highly vulnerable to any slowdown in the increasingly monocultural spigot from which almost all funds here now flow.
    - dccoolgai 12y ago
      Yeah, in a way it's not all that different from Midwestern towns like Gary, Indiana and Youngstown, Ohio - booming economies that depended on steel. Once the steel went away...
stonemetal 12y ago
In the 2013 stats there isn't one area that has a large concentration. It looks like 27% finance, 22% consulting, 18% tech, and nothing else with more than a 10% share. So finance is still hot but under their 30% waterline.
- chc 12y ago
  Something that confuses me: What is "consulting" as opposed to "finance" or "tech"? There are consultants in finance, tech and most other fields. Do they all just get lumped together there?
  - umanwizard 12y ago
    I think unqualified it means business/management consulting firms like McKinsey and so on.
  - n0rm 12y ago
    Consulting is basically getting someone to figure out how to do something for you. CEOs like consulting (primarily big name) because if it fails, they can say they got the best.
davidddavidson 12y ago
To me this chart is the most telling - http://www.hbs.edu/recruiting/mba/data-and-statistics/employment-statistics.html#4 http://www.hbs.edu/recruiting/mba/data-and-statistics/employ... The tech sector employment has more than doubled since 2006 while the other sectors are roughly flat or, in the case of Finance, falling.
- Balgair 12y ago
  funny, by using this and the logic of the article, you can conclude that the USA in general is the worst bubble of them all. 83% of them stay in the states.

this article fails to answer the question ... where are they going now, if not wall street?

dccoolgai 12y ago

Doesn't answer directly, but it does say: And partly because tech looks just as, if not more, lucrative.

kokomo 12y ago
where do you all believe the bay area is now on the startup/tech bubble roadmap? i'd think the bubble blown will be smaller due to VCs and Angels having learnt their lessons over the past decades - while not terribly smaller on account of New Angels and Corporate Venture Funds clamoring aboard. of course, there are more tech hubs globally too siphoning off some of the previous "bay area tech bubble" effect... i believe it's a smaller bubble, but nevertheless a rekindled one. many folks have gold miner fever out here... ken, incubation hub
- hga 12y ago
  "i'd think the bubble blown will be smaller due to VCs and Angels having learnt their lessons over the past decades" A lot of bubbles get really bad when things get so frothy that people without sufficient background jump in. E.g. the 1929 stock market crash and junk bonds in the '80s ... although there was also government action involved in both of those.
  - tsotha 12y ago
    And real estate. When the guy in the next cubicle at work starts flipping properties you know it's time to get out.
- stuki 12y ago
  One threat that is getting bigger in the Bay Area, is the ever increased concentration and dependence on start ups. Most of whom are not living of anything remotely resembling cash flow. The tech eco system itself is one thing, and largely populated by people who can afford a bit of a hit. But nowadays, everything is priced and organized around ever more millionaires being minted in tech every day, and the spending these generate. Take even some of that away, say by making money less artificially cheap, and there is potential for plenty of pain and dislocation across the area. Much like Finance in NYC, the tech boom/bubble is driving costs so high in the Bay Area, that the only remaining jobs are either in tech, or jobs providing highly paid, localized and personalized services to tech workers able to afford paying thousands to have their toenails clipped, lips kissed and walls decorated with Van Goghs. Leaving those providing the latter, highly vulnerable to any slowdown in the increasingly monocultural spigot from which almost all funds here now flow.
  - dccoolgai 12y ago
    Yeah, in a way it's not all that different from Midwestern towns like Gary, Indiana and Youngstown, Ohio - booming economies that depended on steel. Once the steel went away...

stonemetal 12y ago

In the 2013 stats there isn't one area that has a large concentration. It looks like 27% finance, 22% consulting, 18% tech, and nothing else with more than a 10% share. So finance is still hot but under their 30% waterline.

chc 12y ago
Something that confuses me: What is "consulting" as opposed to "finance" or "tech"? There are consultants in finance, tech and most other fields. Do they all just get lumped together there?
- umanwizard 12y ago
  I think unqualified it means business/management consulting firms like McKinsey and so on.
- n0rm 12y ago
  Consulting is basically getting someone to figure out how to do something for you. CEOs like consulting (primarily big name) because if it fails, they can say they got the best.

davidddavidson 12y ago

To me this chart is the most telling - http://www.hbs.edu/recruiting/mba/data-and-statistics/employment-statistics.html#4 http://www.hbs.edu/recruiting/mba/data-and-statistics/employ... The tech sector employment has more than doubled since 2006 while the other sectors are roughly flat or, in the case of Finance, falling.

Balgair 12y ago
funny, by using this and the logic of the article, you can conclude that the USA in general is the worst bubble of them all. 83% of them stay in the states.