What do people actually do in San Fransisco based Start-Up Companies?
There are so many of them and they pay insane salaries for stupid shit.
Are they just wasting VC money?
What is the day of a start up company employee look like?
I can only imagine that 99% of it is trying to sell your dumb ass product.
>Are they just wasting VC money?
Yes.
>Are they just wasting VC money?
They're venture capitalist traps.
They make offices full of basketball hoops and beanbags and then piss away VC money on a dumb idea until it's all gone.
How many of these retarded start-ups have actually been successful?
how can they be wasting VC money? I thought the hardest part was to get funding for your stupid shit?
>how can they be wasting VC money?
mb by paying 120k Salaries for Front-End Web Devs?
>Are they just wasting VC money?
More or less. This is what happens when interest rates are near zero. Richfags get desperate for easy money and so throw millions (pocket change for them really) at these dumb fucking companies on the off chance that they can produce a profit in 3 - 5 years. They go to SF because there are already lots of engineers there.
I'm wondering more about how can VC not have the intelligence to filter out useless bulllshit
I assume their returns from success are that high that they can afford to pump money into tons of garbage hoping it will become the next big fad
They have to pay that much because it is SF. Just remember to subtract 30 to 40k from whatever salary you get offered there because that's what you will probably end up paying for rent unless you want to live like a monk with 6 other dudes.
Innovate and wait for the Facebook bubble to pop.
everyone in SF wants to live with 6 other dudes ;)
I work in a startup (not in SF) on the technical/scientific side but I'm hilariously underpaid right now since they have trouble attracting investors.
I don't know if this is a problem with startups in general, but at my company the marketing guys have a lot of inane meetings for stupid shit so the people on the technical end aren't as productive as we should be. It also doesn't help that they don't know science and they get mad if you tell them some data they want for an ad doesn't exist (and making bullshit up would seriously destroy our credibility).
what meetings
hows the general atmosphere?
tell us more
They make shitty phone apps no one uses and inflate the US economy with lavish spending. When the tech bubble bursts it is going to be so fucked up and extremely painful for everyone in the US. They think they're meaningful and progressing a "digital lifestyle", but they're really just putting the last few nails in the USAs coffin.
There is no tech bubble.
yeah the phone app bubble is going to collapse the us economy
are you retarded
I know you.
Meetings are pretty much "we need mo' data fo' dem investors" followed by "why haven't you found any yet from publicly available free resources that have been combed over several times repeatedly since we refuse to cut deals with institutions with actual data repositories".
That's literally every scientific/technical startup employee. If anything I've learned that startups are 99% marketing bullshit and 1% concrete results. This is not sustainable and we're probably going to see the bubble pop really soon.
>why haven't you found any yet from publicly available free resources that have been combed over several times repeatedly since we refuse to cut deals with institutions with actual data repositories
Fellow startupfag here. Fucking hate that shit. On the plus side they did pay for me to go take a course in python at a local community college though (the idea being that it would be cheaper than a raise.)
this, so much of this
>tfw you will never be the white bull for a jewish billionaire's asian wife
I worked at a late-stage San Francisco startup. As a rule, they only want things one of two ways: fast or faster.
Those perks you've described are invaluable for keeping morale high and, most importantly, keeping people in the office where they can collaborate most effectively. To that point, everyone worked insane hours. 12-16 hours was quite common. This one engineer I sat across from was like the Gimp from Pulp Fiction -- they'd bring him out of a box or something every two weeks and he would work 20 hour days before disappearing for another two weeks. He eventually snapped and, in a meeting with the bigwigs, threatened to bring a gun in to work one day.
On the whole, it was a lot of fun. My favorite part about it was, when I had some downtime, I could just kind of sit back at my desk and tune in to my coworkers, which made for a very enjoyable show. A lot of witty banter and interesting discussions about literature (one of our writers was also an adjunct English professor at Berkeley).
Good goyim
Yes it will. They use IPOs to capitalize and repay VC money and their valuations are dropping lower than their VC valuations. Many retirement funds, endowments, and private equity shops leverage their investment in VC funds to reinvest money in new opportunities because the big banks all offer .1-.7% above the prime rate to lend up to 120% against an alternative investments.
When VC funds start to take losses, institutional investors go underwater on their loans given to big banks and if combined with a net decrease in revenues from a slowing economy(due to a bubble bursting), they would not be able to service their debt as their dividend income and assets values fall.
It's literally what happened in 07-08 but with alternative assets securities replacing mortgage backed securities. The market for these loans is in the hundreds of billions, just like the MBS market was.
I used to work for a SFO PE shop and we used $200m of these loans to acquire businesses from '14-'16, borrowing from Deutsche Bank and Citi. Even people that used these loans and weren't invested in VC will feel the burn when the bubble bursts and probably go underwater.
There's also the fact that loss making equities like Snapchat, Twitter, and ad revenue companies like Facebook will see billions in equity value vanish overnight. There's no shortage of disasters that will come from the commiefornia VC bubble.
>like the Gimp from Pulp Fiction
top
The worst part is that they also get mad that you weren't able to what you're normally supposed to since they told you to dedicate all your time to trying to find their data for their advertising.
And this month they're late in paying me and a lot of technical staff...
It doesn't change the fact that they're grossly overpaying low-skill positions. The smart thing to do is to drop the SF meme and start their company in a more profitable location with a lower cost of living.
So yes, they are wasting VC money.
No one is going to fly out to Arkansas to work at a tech company. Being in a major city is a way to attract employees and also makes B2B travel and meetings easier as cities are close to airports.
Stop smoking crack, or go back to Sup Forums. You obviously know nothing about VC funding. The due diligence they (or rather the consultants they hire) perofrm to ensure the viability of a startup is literally on another level of stringency -- estimations of cash flows and growth potential run down to fractions of a fraction of a decimal point and complete assay of all corporate asset is common. Space shuttles aren't held to such rigid examination. Also, VC capital is all privately held and usually in liquid assets. 95% of companies never make it past the seed funding round and, of those, 75% of those don't clear Series A to become the colloquially known "start up" to which you're referring. You clearly know nothing about what you're talking about.
From an outsider perspective it seems the singular cynical objective of a lot of these new school startups is to be bought by someone.
Have a few patents, have some app that has a user base but makes no money, anything that Facebook or google or whoever would want to increase their portfolio.
Get a few stock options, cash out for a few months, and then start again, only this time you are a "reliable" VC bet so get even more money to flip.
It's literally the flipping houses of software development.