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Am I crazy to think there’s something wrong with the amount of engineering effort going into these startups? When you have engineers working into the wee hours of the morning because you don’t want a cursor to blink on a text field, I can’t help but feel that’s an enormous waste of energy and effort. Since I first used Airbnb 7 years ago, the only real change I can think of is when they added experiences (which is awesome don’t get me wrong), surely at some point you begin to wonder if we are utilising this talent effectively. |
Engineers with 5 YOE are making $500k+ a year at these companies because they are generating much more than that in revenues and profits for the companies. Airbnb is worth $110B.
It's not all blinking cursors, there are thousands of little experiments going on all the time. Increasing the number of bookings by 2% here, 3% there. Increasing the average price of bookings. Random extra features here and there to close that one whale of a client. Expanding into corporate accounts. Improving performance by 5% to take a big chunk out of the tens of millions of dollars infrastructure bill.
From a 10,000 foot view looking at the product, it always looks like it's 90% done in the first couple of years and then things just coast along lazily. But from a profit point of view, that last 10% can generate hugely outsized returns. It's the power of exponential growth, all those extra late nights and tiny improvements that move the needle just a little bit all compound over time.