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Ask HN: Just how bad is the Valley economy

15 点作者 willheim超过 14 年前
So last night (Sunday October 24th) I was watching 60 minutes and they had a 20 minute segment on how the SV/San Jose area was in complete and utter economic meltdown. They were talking about the 99ers (99 weeks unemployed) and interviewed all these PhDs and other qualified older people who had lost their jobs, couldn't find another, and had burned through savings.<p>I've looked at moving there but wonder now just how bad the local economy is. Here on HN it's all rosy (bootstrapped but rosy) with VC cash being talked about every day.<p>What's the real story? Seems people can buy homes in San Jose for far less than renting in SF.

5 条评论

mechanical_fish超过 14 年前
I used to work at a fab in Fremont. It was one of several Silicon Valley fabs that are now no longer operating in the Valley. Its owner at the time, Agilent, cut eight to nine <i>thousand</i> jobs in the early 2000s:<p><a href="http://news.cnet.com/Agilent-plans-more-layoffs/2100-1006_3-959167.html" rel="nofollow">http://news.cnet.com/Agilent-plans-more-layoffs/2100-1006_3-...</a><p>Last year Agilent, which is still a big area employer, cut another 2700 people:<p><a href="http://www.glassdoor.com/blog/layoffs-hit-thousands-at-ibm-and-agilent-why-is-high-tech-getting-hit-so-hard/" rel="nofollow">http://www.glassdoor.com/blog/layoffs-hit-thousands-at-ibm-a...</a><p>It is worth remembering that Silicon Valley's first name is "silicon" for a reason. The area made its name with hardware and fabs. The folks in the area who are fifty and sixty years old are proportionally more likely to have extensive experience in hardware and fabs than in web development, and many of the fabs are closing down. Moreover, because it took a lot of people to run a fab -- more in the past than today -- there are a <i>lot</i> of those people.<p>Yes, life here on HN is great, but that's because of the tiny sample size. For example, what is the total number of people who have been employed at <i>any</i> YC startup over the last decade? I bet it doesn't add up to eight thousand people.<p>So it depends on your skills. If you want a job running a lithography tool on a production line your job prospects are different than if you want a job writing Ruby apps for a YC startup.
iamelgringo超过 14 年前
From Mountain View to San Francisco, there are dozens of startups that have gotten funded in the last 9 months. I'd be willing to be there will be another 3-4 dozen that get funded by the end of the year.<p>The vast majority of those startups are Web/Mobile/Social/Gaming startups. Take 100 startups with $500k in the bank looking for one two three (web/mobile/flash) developers and you have a rough idea of what the hiring market is like in SF. Add Facebook, Linked In, Twitter, Yelp and Google starting to compete more heavily for engineers, and you'll start to see why recruitment is going to get a lot tougher in the next year or two for startups.<p>From Mountain View South to San Jose and in the East Bay, the startups have traditionally been more hardware/silicon oriented. Those industries have been consolidating a lot, and those companies have been laying off people. It's people that come from those industries that have gotten laid off.<p>The 60 minutes episode talked about the San Jose area, and if you read the article [1], it primarily talks about older workers who were in PR, office managers, personnel, etc...<p>All that to say, is that after we get funded, we're going to be staying in San Jose. Office space is cheaper, housing is cheaper. It's a lot easier to get around by car. There's parking for less than $20/3 hours. And, there's a lot of experienced talent that's looking for work.<p>ref: [1] <a href="http://www.cbsnews.com/stories/2010/10/21/60minutes/main6978943.shtml?tag=contentMain;cbsCarousel" rel="nofollow">http://www.cbsnews.com/stories/2010/10/21/60minutes/main6978...</a>
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pg超过 14 年前
What? The biggest problem startups we've funded have is hiring.
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beunick超过 14 年前
I saw the piece as well.. pretty depressing. A start-up migth not have the money to hire an old qualified PhD... I am not if an old qualified PhD will be interested either.. Almost feels like we have 2 worlds in the valley
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anonymous245超过 14 年前
Link to article: <a href="http://www.cbsnews.com/stories/2010/10/21/60minutes/main6978943.shtml" rel="nofollow">http://www.cbsnews.com/stories/2010/10/21/60minutes/main6978...</a>