Readit News logoReadit News
throaway893 commented on Silicon Valley's best kept secret: Founder liquidity   stefantheard.com/silicon-... · Posted by u/mooreds
icedchai · 2 years ago
Or, based on examples I've witnessed, 5 years down the road you own 20% of a $1M company because your forecasts were off by an order of magnitude. You've gone through a couple down rounds, where investors took at least 20% each time. You feel obligated to your investors and employees, while there is almost zero chance of walking away with anything.
throaway893 · 2 years ago
>5 years down the road you own 20% of a $1M

What a horrible fate. They only got five years of salary plus 200k extra. I'll include them in my prayers (just kidding, I don't pray).

throaway893 commented on Silicon Valley's best kept secret: Founder liquidity   stefantheard.com/silicon-... · Posted by u/mooreds
onlyrealcuzzo · 2 years ago
Especially 5 years down the road when you own ~30% of a $100M company - but you know there's a decent chance you'll walk away with very little, if not nothing - while your peers are all making ~$1M per year working 6 hour days at FAANG with a life partner, maybe kids, and a sizable net worth that isn't going away.

Sure, you've got a decent chance to rocket past them in wealth. But they've got everything they really want. You might have foregone your shot at a partner to build a company to mostly profit someone else who did nothing but write you a check. If you do have kids, you'll be old as hell raising them. All you'll have is extra stuff hardly anyone cares about - except maybe you - if you're the type of person chasing down a decimillion net worth.

I hope these people truly enjoy their boats and their third homes in Aspen! It sure is a lot of work to get them.

throaway893 · 2 years ago
You are completely detached from the real world. Even in super rich countries like the US there are a lot of people without savings, living paycheck to paycheck. Most/all software engineers outside the US can only dream of ever earning that much money. And yet here you are, worrying that you'll end up only slightly richer than people earning ~$1M per year.
throaway893 commented on How LLMs Work, Explained Without Math   blog.miguelgrinberg.com/p... · Posted by u/kdamica
edflsafoiewq · 2 years ago
That's an interesting example, since an LLM has no concept of a "self" and literally does not know who it is. It can only answer it "correctly" if you prefix it with a prompt telling it who and what it is.
throaway893 · 2 years ago
You also have been told your name, most likely by your parents. It also had to be explained to you what you are, at some point in your life.
throaway893 commented on 'Eat the future, pay with your face': my dystopian trip to an AI burger joint   theguardian.com/technolog... · Posted by u/Brajeshwar
bko · 2 years ago
> After I left CaliExpress, I found myself driving to the closest McDonald’s, where I ordered another cheeseburger prepared by other humans. It was smaller, and the ingredients were clearly cheaper, but I found myself savoring the well-honed flavors of this drive-through classic.

I wonder if the author eats at McDonald's regularly or just reserves her visits after eating at automated fast food vendors she's reviewing.

In all seriousness, these kinds of articles fetishize human workers and read more like activist pieces arguing against tech. The tech journalist that hates tech is a phenomenon I noticed a while ago. I wrote about this before but here are 5 of the latest articles from a nyt tech journalist

There’s Nothing to Like in Facebook’s Plans to Hook Our Kids

The Maps That Steer Us Wrong

Apple’s Illusion of Privacy Is Getting Harder to Sell

Why Tesla’s ‘Beta Testing’ Puts the Public at Risk

The Assault on Our Privacy Is Being Conducted in Private

The articles can be summarized as Facebook bad, digital maps bad, Apple bad, Tesla bad and big-tech bad

What other field has journalists covering it that absolutely hate everything about it? Why bother at this point? That's why YouTube personalities like mkbhd and Doug demuro are so popular because they honestly love the things they're reporting on. Who wants to read the umpteenth article about how meta is selling our data?

https://mleverything.substack.com/p/journalism-shouldnt-be-s...

throaway893 · 2 years ago
>What other field has journalists covering it that absolutely hate everything about it?

Politics

throaway893 commented on Generation Z is unprecedentedly rich   economist.com/finance-and... · Posted by u/rustoo
ArtTimeInvestor · 2 years ago
According to Google, $100K is less than 10% of the average american household wealth.
throaway893 · 2 years ago
The average is completely irrelevant here. You'd have to look at the median household wealth of young parents (if they even have a household!).

Dead Comment

u/throaway893

KarmaCake day7April 16, 2024View Original