Engineer Can't Survive In The Fab 7x7 On 160K

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If only there was a place where you could get a house with all 10 rated schools for under $1M. It’d be even better if there was no state income tax. Oh wait…

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$160k base salary with a wife and 2 kids only making ends meet? How old is he? His wife spends huge or they spend huge in childcare/ private schools for kids?

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The guy who makes 700k really has nothing to complain about. I’m sure he could afford something easily in SF or in South Bay.

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He could be BSing. Earn much less, sold all his RSUs, hence $700k for that year, then move out.

Knew quite a few people with less than $160K base plus non-working wife and kids, living in South Bay, and staying in SFH. He is either too young or his wife spends like crazy on herself/ kids, plus don’t cook and eat out often.

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More on these poor, poor people…

http://www.sci-tech-today.com/news/Silicon-Valley-Tech-Workers-Feel-Poor/story.xhtml?story_id=0010004EFJLH

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I am feeling bad now with our $60K a year…:stuck_out_tongue_winking_eye:

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If those people think housing is too expensive, then who’s the next generation of home buyers that will push prices higher? Maybe inventory stays low enough that the 20% of successful startups can fuel the housing market higher. The problem now is valuations are so high pre-IPO that employees aren’t getting as rich. Early the equity is options worth a % stake. Once they get a big valuation, then it’s a dollar value of RSUs. From what I’ve seen, once they hit the RSU stage it’s no better than a public company. The valuation is already so high it’s very unlikely to double, triple, etc before vesting is done.

I know people that joined Fitbit at the end of when they granted options. They aren’t even fully vested and the options are under water.

Fitbit has no moat. They are getting squeezed at the bottom by cheaper competitors like Xiomi and at the top by Apple. It is a tough spot to be in. Also consumer’s fixation with fitness gadgets lasts only a few months.

Aaah, just like those fancy expensive gym memberships???

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It will be international buyers. Bay Area will essentially be competing with New York, London, and Beijing for top dollars.

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Fitbit is like all fitness gadgets. …Used it a few months and now I have no idea where it is…

Have these people heard of Daly City? Houses can be had for 800K! Gasp!!

Right, just 5X that poor SOB’s 160K income. Also, 160K is his base salary. He gets RSU or options on top.

No wonder people from Midwest hate us…

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I can make a long list of recent IPO tech companies trading below their price 2-years ago: GRPO, PANW, YELP, TWTR, FEYE, BOX, PSTG, NMBL,LC, and Apigee was acquired for below IPO price.

NOW, SQ, and WDAY are slightly higher and lagged the overall market.

FB is the obvious big winner.

This article analyzing some of the returns on recent tech IPOs.

Are there other recent IPOs from the bay area that should be on the lists? You can see that even if a company is part of the 20% that have a successful exit, the odds of continued success are pretty low.

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I live in the same city as these cry babies, so they can’t fool me here. There are plenty of housing options for a 160K budget. Maybe he meant he can’t buy a 2M house in Glen Park? How about something more modest like 1.2M in Portola? If they can’t find any SFH to their liking, how about condos? SOMA townhouse is a bit over 1M and that’s walking distance to work.

I suspect they do what a lot of folks unfortunately do, spend their disposal incomes like there is no tomorrow. Hence, not nearly enough of a down payment saved to buy a home around these parts. It is not easy when you are used to spending freely. On the other hand, someone like me who did not grow up with money found it fairly easily to do it right out of college into my first job.

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That’s right. I was pretty mad reading that crap article. The median house price here is 1.2M or so and that means HALF the houses sell for price lower than 1.2. There are plenty of options. If the problem is you can’t eat $4 toasts and $5 artisan coffee for breakfast everyday the problem is right there in the mirror. Compared to the low income folks and the homeless they have zero right to complain.

But you know what, I am happy to have them as tenants. Their pain, my gain.

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B I N G O!!! (winner, winner hainan chicken dinner…)

My parents divorced when I was in college and left me on my own to figure out how to pay for the rest of it. At the time, it completely sucked. In hindsight, it was a great life lesson that served me well.

In hiring and working with college grads, I always favor ones that worked during college. I’ve never had a bad experience with the “lazy millennial” that you read so much about. Some expect unrealistic-fast career advancement, but I can appreciate the ambition (especially if they are a high performer). I’d much rather manage them than someone who’s career peaked far lower than they wanted and is bitter about it.

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Hate? From envy to hate to destroy?