I think we are seeing a drop in people leaving established tech to startups, but I think most of this is due to the _ludicrous_ amount of money an engineer/PM can make being a 9-5er at one FB/G. Engineers who meet expectations and get promoted at the minimum allowed rate can be an E5 engineer at facebook within 5 years of graduation where there's a median income of ~$300k. Engineers who are good can get promoted much faster/further than that and make absurd amounts of money. With Level 1 directors at FB making over a $1M a year.
It really doesn't make sense for an individual engineer to ever join a small startup nowadays. Being the founder of a successful startup now still makes sense, but considering that much of the low-hanging fruit of the mobile/internet era has been picked, I think being a founder requires more domain/technological expertise than it did in the era when our current unicorns were born.
I like the state of things as someone making good money relatively stress free at a FANG, but I hope a new fundamental technology wave comes soon and creates opportunity for a whole new set of companies, reigniting the startup scene's energy.
Definitely possible and likely true to some extent. Smart people who don't have a particular passion and may have chosen finance/consulting in another era are considering tech.
Though I do see a lot of people move in and out of being high leadership at smaller companies/startups and into manager/director positions at FANG.
How this is all going to lead anywhere worth going is anyone's guess...
But, a more positive change is that there will be some high-impact multitalented genius individuals that choose to pursue tech instead of high finance or politics or something like that. Jeff Bezos left a hedge fund to start Amazon. Now he may be a ruthless son-of-a-bitch when it comes to competing, but for consumers the positive impact has been enormous. He's likely done far more good than he would have being a lifer at D.E. Shaw.
When I said "absurd amount of money" it was more of a rhetorical device, I don't actually think that its unreasonable, and yeah I meant ~500k or so.
Considering the value good engineering and leadership bring to a tech company, this pay makes perfect sense, hell it still may be lowballing the value they generate for the organization. But it is still a high amount of money for a 9-5 individual contribution job compared with other industries.
I'm more making the point that tech used to pay middlingly compared to other professional jobs (doctor/lawyer etc.), and Mechanical/Electrical engineering for the most part still do pay middlingly. I think this encouraged the talented to strike out for startups far more often as the opportunity cost of doing so was lower, especially in times with new technology waves where there was a lot more "low hanging fruit".
I'm not saying the pay is anticompetitive or a bad thing, I'm merely commenting on a trend that I've seen where startups make less and less sense for talented individual engineers and I wonder how that will affect the tech scene in the next decade.
Outside of SV, how is it not "middlingly"? Where can you make $500k+/year in tech working at some corporation??
I got fed up with Facebook a while ago and deleted my account. No problem. If Facebook has influence it is because people voluntarily chose to give it to them.
Your data is there whatever you do, growing as a phantom profile based on data you give to advertisers or what your friends share. It's become such a huge power that it's a huge part of social life. It influences our society in ways we coulndt even imagine before.
There are so many uses that I just cannot afford to not be on the platform.
The Facebook problems are all Mark Zuckerberg problems, it starts with the people he pics for management the priority he sets for a business which provides an important part of american infrastructure.
Zuckerberg as CEO of Facebook is the same for the USA as putting a teenager in control of the United States Department of Energy.