4 ms·
I know of a couple, but it's rare. You're much more likely to make money in a hedge fund. Year-end bonuses (profit-sharing) are a much better model, at least fo
by michaelochurch 12y ago
I know of a couple, but it's rare. You're much more likely to make money in a hedge fund. Year-end bonuses (profit-sharing) are a much better model, at least for employees, than startup equity, which is usually a retention carrot for after the company is bought and dies. Unless you become an executive, you have to get very lucky to have that kind of outcome.
The million-dollar houses are mostly being bought by investors and well-connected career startup executives who take almost no risk. Engineers are renters in the Valley.
- shostack 12y agoI disagree on the houses bit. Literally speaking, the million dollar houses in the Bay Area are being purchased by a wide range of individuals, many of whom are young professionals earning a decent amount and stretching themselves very thin or relying on family gifts to purchase what amounts to a shitty starter home. Certainly investors and execs in the mix as well, but I think you are painting with an overly broad brush on the housing front.
- slantedview 12y agoNot all engineers are renters, and not all renters want to rent forever. The current median price for a 3 bedroom single family home in Mountain View (just picked a random valley town) is 1.275 million. Aside from the fact that this is INSANE, this is what the average engineer might spend on a decent starter home. It's not just executives (though it's still insane).
- shostack 12y agoMaking it more insane is that the price you quoted could very well be for a not-so-nice home east of Central that has quite a bit of section 1 to address, not great schools, etc. Anything further west that is big enough for 3br in Mountain View will quite likely be north of $1.3. FML.