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0 pointsobstacle113y ago0 comments

You write in such a protracted, drawn-out fashion that it is hard to understand what you are saying. Please permit me to clarify.

>Dedication and ability are assessed, in most corporations, based on antiquated, counterproductive, and fascistic reliability measures that disfavor, for one example, taking maternity (or paternity) leave or dedicating substantial energy to childcare

White-collar work inherently discriminates against women because they could possibly get pregnant. Is this what you are saying?

>You really think making $250,000 plus commission is "risky"

Yes, that is why people are hired at such high salaries. Because they do well for a couple of years and then flame out, never to work in the industry again. Again, you are clearly far removed from the industry so I don't fault you for not knowing how compensation works in said industry. But it isn't like you're walking into a golden ticket. If you don't meet bar, you don't get your bonus, which is more often than not the bulk of your "salary". And then you get canned. No remorse. that is risk.

>it's not personally risky to be an employee.

I don't understand how you can say this if you've actually worked for Wall Street firms.

>Like losing your savings (bootstrapping failure)

Smart founders don't tap their savings dry on an unsure bet.

>Playing games with other peoples' money (and getting a resume/credibility boost no matter what happens) isn't nearly as risky as putting 3 years of your life into something that might wreck your career for reasons that aren't your fault.

Except that it is way MORE risky. If you start a company and fail, at least you can say "I started a company and failed" and the Silicon Valley Brigade will give you a job as a Rails programmer. If you fail slinging options, you're never working in that field again. Literally.

I agree with your assessment of VCistan, now that you've expanded on it.

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3 comments · 3 top-level

verbalist13y ago

"If you start a company and fail, at least you can say "I started a company and failed" and the Silicon Valley Brigade will give you a job as a Rails programmer."

Haha, this happened to me exactly. I didn't even know Ruby. Or Rails!

mistermann13y ago

>>Dedication and ability are assessed, in most corporations, based on antiquated, counterproductive, and fascistic reliability measures that disfavor, for one example, taking maternity (or paternity) leave or dedicating substantial energy to childcare

>White-collar work inherently discriminates against women because they could possibly get pregnant. Is this what you are saying?

I think what he's saying is, actual experience is worthless. The person that has performed an action 100 times is exactly as qualified as the person that has performed it 10,000 times.

Whether you were coding (or doing open heart surgery) for 20% vs 80% of the last 5 years is not relevant. If you have a computer science degree, or a medical degree, that is what really matters. The entire concept of estimating ability based on whether you have actually written a significant amount of code, or have actually performed a significant amount of medical operations, is a flawed concept.

I think that's the essence of what he's saying.

michaelochurch13y ago

Your point about the fate of failed options traders does not gel with what I've seen. Yes, you get canned if you do poorly. Sometimes, just for being unlucky. (Startups work that way, too. Every job, these days, does that.) Also, it's correct that bonus is most of total compensation for top people-- sometimes over 90%-- which means not getting one really blows, but Wall Street salaries aren't exactly bad. If you were expecting a $3 million bonus, on top of your $250,000 salary, and got a Goose Egg during Comp, then are canned a month later with 6 months' severance, well... my heart bleeds for you. You've got half a year to get another job and, unless the market's completely fucked (cf. 2008) you'll get a promotion. Failed trading options? You'll trade something else if you want to trade, or you can move elsewhere. VCs will fund anyone with the Finance Stamp of Approval, at least in New York. Foursquare for ostrich farm? Here's your rocket fuel, now hire some ninjas and move the needle.

Personally, though, I wouldn't want to be a trader. Quant is as close to that game as I'd want to go. I've seen what traders do and it doesn't look fun. It's not professionally risky, but it's still very stressful. I'll give you that.

Sure, you can get another job after a failed startup, but usually as a subordinate, and that's viewed as dishonorable after 35 and untenable past 40. If you fail as a derivatives trader, VC-istan will let you be a founder. Sure, you're going from $250k plus a possible 1000% bonus to $200k and 15% of a startup. Again, my heart bleeds.

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