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by opportune
2528 days ago
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This argument makes no sense. You making $X/year has no bearing on how another company pays its employees. There are people in Bangladesh making shirts for $5/day so why would I pay you $1000/day to make websites? Well maybe because that's the going rate for the area and you can generally buy higher quality labor with more money... |
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Yes it does, because I and many many many many other people are doing fine on one amount outside of the Bay Area. My job equates to effectively any non-coding job that they have, someone was trying to claim that every employee costs 100-200k, I pointed out that is patently false and gave my income as an example.
When I pointed that out then it changed to "oh yeah but rent costs 200 million!"
No.
I've still seen exactly zero sensible explanation in this entire thread as to why a payroll company felt he need to raise 200 million in funding, and why any sane investor would provide such an amount.
Let's say an employee DID cost 150k after salary, benefits, and a year of their share of the building rent though, 200 million dollars gets you:
- 1333 employees for 1 year
Pretty sure that a payroll company doesn't need 1,333 costing 150k just to grow/become profitable.
Pretty sure they don't need 100 employees costing 150k each to do so, even if they do that's 13 years of money, er sorry 'runway'. I highly doubt they're going to hire 100 software engineers.
But hey, I'm not a VC so I guess my question is silly to everyone here.
So I'll point out that the people investing the money, that some of them are also scratching their heads and concerned about such:
https://www.inc.com/business-insider/sam-altman-thinks-start...
https://twitter.com/sama/status/977593111592357892?lang=en