My take in bubbleness is people moving to California for the express reason of working in a startup. If you're doing that because you're an entrepreneurial type and you want to learn about the ins and outs of running a company and your not a stranger to hard work, rapidly changing priorities, and the journey is its own reward, great. But if you're doing that because "startups are cool" and "Man, you get in early and suddenly bam! your like a zillionaire even if you're the Janitor, dude, sign me up!" Well you're chasing a bubble not a career :-). The saddest part for me in the late 90's was the influx of business majors who were going to 'show up how its done' as opposed to problem solvers and team builders.
That said, I'm feeling like there are more and more people in the bay area at least for the wrong reasons. And I for one, having lived through the first bubble, have been milking it rather than going all in (bought some FB when it got down to $18 and sold it once it crossed $36. bought some Tesla, sold it when it doubled) took the money out and put it in more diversified things (like index funds). Its boring, you don't make the 'big score' but when the music stops, and the music always stops, this time it won't all evaporate. At least that is what I keep telling myself :-)
>The saddest part for me in the late 90's was the influx of business majors who were going to 'show up how its done' as opposed to problem solvers and team builders.
Funny, the saddest part for me, both in the late 90s and today, are the "Tech Stars" who are living high on the hog on other people's money, with some pipe dream of getting bought out and no plan to run a real, viable, sustainable business. Their businesses implode, they get "rich" (through money and contacts) and move on to the next project.
Laugh all you want at the MBAs, but I can assure you that they, at the very least, understand that the purpose of a business is to create value for customers and generate a return for stakeholders. I think "Silicon Valley" could have used a bit more of that sort of thinking then, as perhaps more so today.
I think that 'ninja/rockstar/ego-driven' technologists are sad in their own way. Somewhat differently than unseasoned MBAs though. There was a joke that was old even when I moved to the Bay Area in the 80's that you knew you were a 'successful' engineer when companies issued a press release that you had joined them, but they had no idea what you were going to do for them. And like most jokes there was a painful truth that for some people it really is all about them.
That said, I find it is also easy for me to fall into the trap of looking primarily at the excesses and sillyness and overlooking the cool things that get built. One of my long time friends is working at Intuitive Surgical and they are doing some really innovative and cool stuff that is not at all frivolous.
That's why you need an entrepreneur that has both skills (biz & tech). Engineering chops to execute (code) their dreams and business sense to make sure that they are building something that creates value for customers and not a hobby.
That said, I'm feeling like there are more and more people in the bay area at least for the wrong reasons. And I for one, having lived through the first bubble, have been milking it rather than going all in (bought some FB when it got down to $18 and sold it once it crossed $36. bought some Tesla, sold it when it doubled) took the money out and put it in more diversified things (like index funds). Its boring, you don't make the 'big score' but when the music stops, and the music always stops, this time it won't all evaporate. At least that is what I keep telling myself :-)