[michaelochurch]

Good engineers are still a gigantic bargain at $150k.

In reality, those good engineers want $150k and extremely high levels of autonomy OR $500k without caring so much about autonomy (hedge funds). A startup obviously can't afford the latter of those two options. You just need to found a company where the great engineer's desire for accomplishment and autonomy will be an asset rather than a liability. Unfortunately, VCs seem pretty invested in the idea that engineers are second-class citizens, so that's not likely to happen in their world.

Silicon Valley's rent problem is atrocious, but the big companies offering $150k are actually making it better. Why? Because when the big-company or government deal is fairly good, only startups with genuinely good ideas can attract engineers.

What's going on right now is that 99% of these startups aren't true tech companies, but bullshit marketing gambits that happen to involve technology. Those are the ones designed to mine the mediocrity of commodity JavaDrones. But if you go into the startup scene not knowing the warning signs, you'll probably end up working for one of those.