[rickspencer3]

I assume that some percentage of these employees are developers, engineering managers, etc... I assume that a large percentage of those have high salaries and are based in the Bay Area.

I wonder if they will all be absorbed into the local job market, or if some will have to take lower salaries at remote companies, and perhaps even move to more affordable places?

[seibelj]

My sincere belief is that there are a large number of employees whose total comp is over $400k and they provide far less value than that. But the arms race between FAANG drove up salaries to illogical levels. As people are pushed out they will not be able to hop to another FAANG. While total comp at startups might be similar but the equity isn’t liquid like FAANG is.

Additionally the skillset to succeed at a large corp is very different from a startup. It will be a psychological shock to go from a FAANG environment to a small company.

In summary I think there will be some hard life lessons for some previously extremely well compensated tech folks. I hope they saved a lot of their past salaries.

[yodsanklai]

> whose total comp is over $400k

People with high comp aren't there by chance, and don't keep their job if they don't perform consistently at their level.

> Additionally the skillset to succeed at a large corp is very different from a startup

I worked in both environments, and it was quite similar to me. But FAANG was more stressful than the startup (which had investor cash to burn, and no angry customers). Also management is always behind your back and pushing you to your limits, in an environment were almost everyone is good and hard working.

[Der_Einzige]

No, maybe 20%-30% didn't make it by chance, they made it by straight up cheating on the leetcode part of their "virtual on-sites".

Blind has been salty about this for years, especially since now many of the FAANG cheaters are getting promoted...

[chris11]

How are they getting promoted? I hate the idea of cheating. Interviewing is unpleasant on both sides, and I don't want to compete with cheaters. But getting promoted isn't easy. It's been common advice to get a promo at another company if you are having trouble at your current job. Sure promos can be political and involve luck, but hopefully they are backed up by real impact.

[theGnuMe]

This is HN, maybe we will get a bunch of new startups!

[snotrockets]

If at all, $400k is too little, considering Facebook revenue is ~$1.5 million per employee.