Lack of software engineering talent 'could derail London’s Tech City'

[minestrone]

My main motivation for plan b is so that I do not have to work anymore for fudnut clients on their fudnut systems with fudnut permies.

[Sysman]

If you are going to pay half the rate, the least he could do is give them stock options, in that way if their collective hard work pays off, everyone's a winner.

That's how it seems to work in the US.

A long time ago I was offered a permie job and the carrot of shares was dangled in front of me. Several years later I asked a chap who had been lured by the same carrot if he'd got any shares yet.

Nope was the answer.

[minestrone]

I think I still have shares from a silicon valley startup I joined (UK Office). I was looking for another job six months after I joined when they went tits up.

People were honestly looking up boats and where to put them in the med while the more realistic of us were thinking 'this is never going to work'.

25 million VC and no actual working product was ever made.

[PAH]

25 million VC and no actual working product was ever made.

There are/were some mug investors out there.

What motivation can a start-up have if they are given someone else's money, and plenty of it so they don't have to stay lean and keen until the product starts earning it's own crust?

I have the same problem with my plan B. Too much initial startup capital by way of my warchest saved from recent contracting. Though the sterling devaluation burn rate is sorting my problem out while I procrastinate.

[eek]

I think I still have shares from a silicon valley startup I joined (UK Office). I was looking for another job six months after I joined when they went tits up.

People were honestly looking up boats and where to put them in the med while the more realistic of us were thinking 'this is never going to work'.

25 million VC and no actual working product was ever made.

Only 23 million. That is mere peanuts. Mind you Dan Wagner did awfully well out of the one I contracted at.

[OwlHoot]

I'd rather hire 3x £40k good developers working in a permanent basis in a team.

I suppose you do realize the best developers are at least 50 times more productive than the average, competent joe shmoe?

And you need the best for a high-tech startup, at least until it is established.

[AtW]

I suppose you do realize the best developers are at least 50 times more productive than the average, competent joe shmoe?

50 times figure is bulltulip.

And you need the best for a high-tech startup, at least until it is established.

A lot of successful startups were founded by people who are far from the best, but they were on the right idea, had correct attitude (this means not paying youself lots of money or allowing money to burn otherwise), had funding, decent amount of luck and ultimately turned startup into proper company that might just be able to hire "the best" as in "very expensive" workers.

I'd rather be in a start up with "good" people that is profitable, rather than in a startup with "the best" people which loses money due to massive costs. But we both know which one you'd prefer, right?

[OwlHoot]

50 times figure is bulltulip.

I read it in a very authoritative source.

But, not being as organised as Nick F, I forget where. You'll just have to take my word for it.

[minestrone]

The impact of a wrong decision early on can me absolutely massive and can last for years and years, in that respect it can be 50 times or more on occasion.

[AtW]

I read it in a very authoritative source.

And now you read from another one that it is bulltulip.

HTH