I’ve seen comments about the “end of Silicon Valley” as early as 1993.
Though back then you could get a house in Cupertino for 300k?
It’s now $3M.
This has some effect and makes living here to start a company higher risk.
Though back then you could get a house in Cupertino for 300k?
It’s now $3M.
This has some effect and makes living here to start a company higher risk.
It’s nearly the exact same conversation you see today. It’s a little wild to me that they thought housing prices were high then.
It makes me wonder if in 2047 I’ll look back at this thread and think “only $2M - what were they complaining about? Can’t find a place today for less than $18M”
Today the same engineer at a FAANG would make about $300k. Houses are about $2M and interest rates are about 2%, so relatively speaking things are cheaper. However, unlike in 1993, today's salaries are unlikely to grow by 10x over the next 30 years while the mortgage is paid off!