Hacker News new | past | comments | ask | show | jobs | submit login

My own personal 2 cents: I arrived to San Francisco in 1998, so I was there when things peaked. I got paid more money than was good for me at the time, and getting a job was easy. Getting funding was even easier. I worked for an ASP at the time and on many projects. Some ideas were so silly it beggared belief how they had seven figures in funding and unsurprisingly most failed. But if you had an idea that included that word internet somewhere in the business plan - you got funded. If you could hold a mouse and do a "Hello World" you could get hired. I was also hooked up with one of the larger party organisers in town at the time, working on their web site and music streaming app (though it was all 'website' then, not apps), I was also producing music, playing big parties. I enjoyed myself fully.

So, geeks were given millions and felt like they had to impress the investors. So if the competition moved to a new office, they moved to even bigger ones. If the CEO was driving a Porsche, they got a Ferrari. So you could tell a tech startup was in a building by the multiple Porsches parked outside. The same principle applied after the crash - you could tell a tech startup is crashing due to the multiple people coming out with cardboard boxes. Every day another startup next to us did the cardboard box dance. Our turn came as well of course. My next job lasted 2 months as that company tanked as well, and as a new recruit I was first to be let go. Next company lasted a bit longer but at that time the city was changed. Before the crash I had to park my car at the other side of town and take a taxi to it when I needed it. After the crash I could park everywhere I wanted and at any time. After the crash I had periods between jobs that I couldn't find any work. At all, but I was lucky (and good enough) to ultimately get a good gig. During those dead periods though I had to leave the City which was probably the hardest thing for me as I really like San Francisco.

I don't regret a thing though. And I think the crash ultimately did good to the industry. It was too much before it happened. A strange gold rush with a total lack of common sense. The waves to follow are somewhat more sensible.




Guidelines | FAQ | Support | API | Security | Lists | Bookmarklet | Legal | Apply to YC | Contact

Search: