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> He approached me because he was really into startups and wanted to become a tech entrepreneur, and make the big bucks
It's a shame that so much of tech culture has become about money. Money was always a part of it, but living in the Bay in 2010, there was more of a focus on building things. But once people started getting rich, especially off bitcoin, it brought in a whole host of people whose primary passion seemed to be money. We moved out in 2018. Still bums me out, SF was my favorite city, and I hoped to live there for a long time, but the values weren't my values anymore.
This is funny to read because I remember hearing someone complain about the exact same thing in the Bay Area, but their dates were shifted by about 10 years before yours.
I think it's kind of like Burning Man, where everyone's favorite experience was their early days when they were young. As you get older, you complain it's gone downhill and the new generation is going for all the wrong reasons.
SF and the Bay Area are constantly shuffling through and recombining ideas. What generated money relatively easily in 2010 would've started becoming low value in 2018, rapidly approaching an asymptote of relative uselessness today. 2018 is about the point where you needed to be pivoting to AI if you really wanted to remain part of the city's "upper class", where money feels like it doesn't matter because it's abundant and automatic. 2010 was the era of mobile apps.
Makes me wonder how long we have before, "create your own ChatGPT" becomes the next big thing and people wonder why their "AI Labs" aren't making as much as the big boys.
Another perspective is just that SF's culture has been declining for decades. As someone born in SF, I'd agree.
[1] https://press.stripe.com/the-making-of-prince-of-persia
And when it comes to culture as festivals they are very much victims of getting hallowed out and sucked dry.
In reality, you could probably put any date in there and it would work.
There seems to be a human desire to start a new and better life somewhere, and career-wise SF is almost the only place that seems compelling to try. There are lots of good companies in other cities, but I don’t know would you hear someone say they were going to move to Seattle because of the tech scene and try and get involved in some startups? SF still feel American dream-y.
Persistence > Intelligence , and being able to code isn't some sort of superiority thing, it's just one skill of many
Edit: being able to take risks, and doing so, does lead to higher variance outcomes, so that is something I have also come to appreciate and look for in people. It may look reckless, and attracts weirder people almost by definition, but that is what startups are ultimately about, betting you can do better than the regular path!
It’s easy to be consumed by “I’m the wealthy San Francisco founder guy” and doing everything that lifestyle requires, including things that may not be good for you.
I've been to some weird SF events where you immediately recognize that most people there are in their fake it till you make it stage. Then you realize that many of them aren't interested in the part where you have to do a lot of hard work, they just want to be impressive and charming to a broad network so they can insert themselves into the best opportunities that come up.
Every startup collects a couple of these hires during their growth phase. Some times it can be really hard to separate the charm, charisma, and credentials from ability to get things done. The smart founders will push these people back out, much like this Jim guy got fired from the startup he managed to get into at the right place at the right time. It doesn't happen immediately, though.
Home brewing is one of the cheaper hobbies available (though like all hobbies you can spend as much as you want). The only real requirements are a bucket and a pot.
The hobby itself can get costly though. So much equipment to buy. And space.
> The establishment scions pouring into tech take on the trappings of subversion, while remaining fundamentally conformist. Meanwhile, rampant success inevitably causes the former tech counterculture to morph into posturing “Prada revolutionaries,”
Unfortunately the article ends on praising crypto and surveillance, so this has been going on for a while
The goal isn't abstract - read it as - goal of "not being a wage-slave" and have a shot at being more. It's an ambition type of thing.
In other words, there are a lot of people "playing startup" in the valley - some of the VC money flows too easily and there is always going to be an ecosystem of people to try to put it to work.
Sadly, most people will think this advice is a joke. =3
People dumping discounted equity to hyper-scale on debt is not a business, but just another IPO over-valuation scheme. =3
If you do that, you're almost guaranteed to stay in the top 2% globally for the rest of your life. You've made it in life, at least financially.
The approach of not taking advantage of the lucky and privileged situation exposes you to a huge risk that your NW will go down to zero and you never get a second chance.
A toy model game is poker. If opponents know you'll never call an all-in/go all-in, they will always outplay you on the river.
And so, let the market pump funny numbers, and matriculate the lucky survivors.
What means do you see? Buy some S&P500 ETF and live off the interest rate? That seams easy but without investing in AI, you’re at risk of AI making the existing economy irrelevant, it’s the same as having all investments in local craftsmanship in 1700 and the steam machine happens, except much faster.
And move to [insert home country]? (What if I want to keep my friends)
Is having a couple of pets and a ridiculous table lifestyle creep. Maybe. I think of lifestyle creep more in terms of you are not saving any money at all.
I think that comment is more telling of what is expected of founders and engineers. At least from authors point of view.
No life allowed. Definitely don't reproduce. You work, and work so you can work more.
The Bay Area is a weird place. There are countless companies staffed by smart people doing amazing things. There are also countless people cosplaying as smart people and founders who are going through all of the motions, but producing little value.
In my experience (which is as limited as any other one person's experience) the environments at the companies doing the amazing things are on the boring side. Nobody wants to hear about those because it's uninteresting. So instead all of the public stories are about crazy parties, quick wins, huge exits, and the glamorous stuff.
People go there seeking it out. Some get lucky with some early wins, like Jim from this story. But when the time comes to do work, they flounder and get pushed out, also like Jim. It's a big place, though, and there's always some connection willing to hook you up with another referral if you press hard enough. That's the step where the performative, partying people start getting grouped up with other performative, partying people, and it snowballs from there.
Meanwhile the real companies are off quietly doing boring work and getting things done, pushing the Jims out if they accidentally get hired or acquired into the fold. It's a weird place.
I can't say I see a lot of green Range Rovers in other cities, but I assure you this one is universal across places and industries.
I have friends who go to Burning Man and don't post anything on their social media or bring it up in conversation because they don't want to be one of those people. Others go once and it becomes 50% of their personality for the next year.
It's also a bit of "I like you because you're like me" thing plus some "it's useful to me that you're like that".
I've seen plenty of startups where the CEO/CTO has been trained to under one specific stereotype (common ones these days are: the asian twink, the athlete, the nootropics guy, etc.), and then lots of their friends/hires happen to be of the same or adjacent/compatible stereotypes.
There are lots of earnest, sincere, and interesting founders. There are also lots who probably would've been happier on Wall Street.
Drug fueled founder parties? Orgies? I've clearly been doing silicon valley wrong. Or right, depending on your perspective... but not this? I've seen board game fueled parties where maybe one or two people do drugs, but it remains very nerdy? And no sex parties. Mostly sausage parties?
... so yeah. Do people really know Jims? Because I just read posts about them.
The startup market rewards first to market and first to scale. This creates a game of "chicken", where the competitors spend like crazy trying to achieve a near monopoly. That's why some of the fake-it-til-you-make-it crowd gets ahead. But most of them crash. The historical success rate for VC-funded startups is only about 1 in 10.
Actually the one drugs + stripper party I was invited to was so damn sad and pathetic I left after a few minutes. A bunch of geeks who got rich, using money to do an impersonation of the crazy lifestyle reality TV taught them they were supposed to be having.
I left the party and went back to playing board games in another wing of the hotel.
Clearly you weren't cool enough to get into the drug-fuelled OpenAI gay sex orgies.
What?! Source?
More prison gay than anything else. I'd go down on a man for a million dollar OpenAI offer even though I'm into women. I don't think commenters here realize how desperate people can become for money.
This seems like a pretty dubious conclusion to make from the outside. There are a lot of reasons somebody would get fired after an acquisition. Hell, even if he was coasting, an acquisition followed by a rapid change in environment and culture can cause somebody to lose motivation for a wide range of reasons. Blaming this on "lifetstyle creep" is rather premature and, frankly, pretty judgemental or moralistic.
This is downstream of a pretty frustrating belief I've seen repeatedly in the tech industry: that whether a person is "motivated" or "hard working" is some kind of inherent quasi-moral characteristic of the person, rather than something substantially affected by environment. But hey, it's much easier to blame individuals and lean on the perf review process than it is to change organizational culture or leadership!
John W. Spiegel: A prominent business litigation and securities lawyer who graduated from Yale University and worked as a partner at the law firm Munger, Tolles & Olson.
This is a bigger problem in Silicon Valley right now than anyone seems ready to acknowledge.
1. https://www.fda.gov/drugs/drug-safety-communications/fda-upd...
Nothing wrong with that per se, I basically did that in grad school. It’s completely different than actually grinding 100 hours a week though. Also tough to be a part of if you have a life or family outside work.
Go back to early 2000's post dot com bubble.
The whole of the bay ran on Adderall and Ambien + what ever else one could get their hands on. It was so pervasive that even a decade later you could find Adderall references in Bay Area hip hop.
Almost 30 years on, and this still has not really changed.