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by orthoganol 3187 days ago
What about the world of contracting? You can also be someone who has flexibility on where/ when they work and for who, and it's probably a more viable 'path' in tech than in any other industry.

Since the vast majority of founders fail, having significant financial cushions from your family or years working prior is probably the top pre-requisite if 'founder' is your path.
2 comments
Clubber 3187 days ago
Contracting is good, but there is a trap. If you find yourself as a contractor and the market crashes, finding new contracts is much more difficult. At least I experienced this during the dot bomb / 911 collapse in 2001. Also, you have to pay for your health insurance, which is getting crazy expensive, and only gets more expensive as you get older. Make sure you adjust your rate accordingly.

This may or may not apply to all locations and all collapses, but expect collapses to happen every 8-10 years.

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dredmorbius 3187 days ago
It's possible to switch to not being a contractor.

I'm also not all that certain that down markets don't hit all categories with similar force. Contractors may be cut slightly earlier (discretionary spending), but that depends on contracting terms and duration (there are set-length contracts), and as a bonus might be hired back earlier.

Much depends on whether or not you have a specific skillset that's in demand, and know how to market it effectively. And that's regardless of your employment terms.

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Domenic_S 3187 days ago
> It's possible to switch to not being a contractor.

Sure, but during an economic contraction is typically not a good time!

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dredmorbius 3187 days ago
It depends, much of that on your relationship with clients and their own savvy.

If you're a valued contributor and your client is aware of that, they may be able to swing things. That may end up being a zero-sum game, with existing headcount being eliminated. Much depends on the organisation's own policies and savvy.

It's an argument for maintaining good relations, though.

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bspn 3187 days ago
Yes, health insurance is an unavoidable PITA, but I'd argue that contracting actually better insulates you from major market corrections if you have multiple client relationships. While a major dot.com type bust may wipe out most of them, you have a better chance of at least one making it through alive vs putting all of your eggs in one basket as a W-2 employee.
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j45 3187 days ago
Collapses affect employees too.

Contractors can save many more multiples of cash than employees in the same period of time between collapses, assuming they have some discipline.

Discipline contributes to freedom more than anything.

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