I never got laid off, but the whole thing left me with a bad taste, so I have decided to go out on my own. Sure, there is risk, however there is also risk being with a large company and the whole 'we are family' culture kool aid is show to be the BS most of us knew it was. Recently we have seen profitable companies drop workers for no reason other than to appease activist investors. Now sure, this is their prerogative, can't argue with that, it's my prerogative to give (or not give) them my time. So just as my own business could fail, so could my position with a corp be liquidated, yet without being able to read the financial tea leafs and see it coming.
At the end of the day though, I am going to regret not trying then I am giving it a go. Right now I am in my thirties and have some flexibility to roll with the punches of capitalism, but that won't be the case when I hit 40/50+ when the one acceptable 'ism that everyone turns a blind eye to starts to playout ; ageism.
> Recently we have seen profitable companies drop workers for no reason other than to appease activist investors. Now sure, this is their prerogative
I blame stock buybacks. Reminder that theyy were illegal untill recently.
And they perform no legitimate function other than being unregulated, tax-evading dividends.
> But in the United States, capital expenditures aren’t accelerating. Instead, new cash is being used to reduce the number of equities available, thus artificially driving up their value. That practice has been exploding. It’s an irresistible temptation, partly because everyone is doing it. Nobody wants to be left out. And the cash is just sitting there, idle, because it’s a rare C suite that has continued to invest in new, creative growth rather than pick the low-hanging fruit of easy money to be made through financial maneuvers. It was a good thing that companies receiving stimulus money to stay in operation during the Covid-19 shutdown have been banned from using it for stock buybacks. But it’s too little too late.
> Right now I am in my thirties and have some flexibility to roll with the punches of capitalism, but that won't be the case when I hit 40/50+ when the one acceptable 'ism that everyone turns a blind eye to starts to playout ; ageism.
There have been studies which put the average age of successful founders in their mid-40s. We romanticize the kid in college making something happen, but the reality is that people need experience to see problems worth solving.
If I were you, I would make as much money as I can working for a big tech company (e.g. gigantic monopolistic company with too much money on their hands). When you're 40/50+, you'll see what your options are.
jossclimb|3 years ago
At the end of the day though, I am going to regret not trying then I am giving it a go. Right now I am in my thirties and have some flexibility to roll with the punches of capitalism, but that won't be the case when I hit 40/50+ when the one acceptable 'ism that everyone turns a blind eye to starts to playout ; ageism.
ClumsyPilot|3 years ago
I blame stock buybacks. Reminder that theyy were illegal untill recently.
And they perform no legitimate function other than being unregulated, tax-evading dividends.
> But in the United States, capital expenditures aren’t accelerating. Instead, new cash is being used to reduce the number of equities available, thus artificially driving up their value. That practice has been exploding. It’s an irresistible temptation, partly because everyone is doing it. Nobody wants to be left out. And the cash is just sitting there, idle, because it’s a rare C suite that has continued to invest in new, creative growth rather than pick the low-hanging fruit of easy money to be made through financial maneuvers. It was a good thing that companies receiving stimulus money to stay in operation during the Covid-19 shutdown have been banned from using it for stock buybacks. But it’s too little too late.
matwood|3 years ago
There have been studies which put the average age of successful founders in their mid-40s. We romanticize the kid in college making something happen, but the reality is that people need experience to see problems worth solving.
Found it: https://hbr.org/2018/07/research-the-average-age-of-a-succes...
yodsanklai|3 years ago
If I were you, I would make as much money as I can working for a big tech company (e.g. gigantic monopolistic company with too much money on their hands). When you're 40/50+, you'll see what your options are.