[ben_jones]

Institutional investors panic > board panics > executives panic > evps panic and dictates incentives to ship AI > directors, ems, and below, who actually know how shit works, take a submissive role because they have mortgages in Mountain View to pay.

That’s how it happens.

[astrange]

Not sure if anyone below director can afford a mortgage in Mountain View.

[fragmede]

I know that's hyperbole, but here's something for $600k. Let's say it goes for $700k. 20% of 700 is $140k.

An L4 engineer at Google makes like $300k. round down to $200k post tax. live in shared housing for $2000/month; that's $24k/yr, add $2000/month living expenses on top of that, is another $24k. Stick $2000/month into 401k, Save the rest (200-24-24-24 ) 128k and you'll save up $140k in a bit over a year.

bam; owner, not renter.

Now, whether this is better than renting, and putting the money into the stock market is totally other question, but even L4's at Google can afford a mortgage in Mountain View.

https://www.zillow.com/homedetails/50-E-Middlefield-Rd-APT-4...