Hacker News Reader

Comment by davidtyleryork | Hacker News Reader

So basically it's only a matter of time before the ideals of the "gold rush" go away and everyone's just in it for the money?

I came to Silicon Valley to escape that (the alternative, at the time, was Wall Street). Unfortunately, this kind of behavior (and these kind of people) seem to 'follow the money'.

*Note: This is both about the conversation that companies are abusing consumers and then apologizing later, and the tech blogger community and Lyons' accusations

View on HN

I get the same exact feeling. The frequency of lax startup ethics seems to be increasing by the count of HN articles reporting it. I left wall street for the same reason you mention. More and more we hear 'this time it's different', but from SV investors. Always a troubling sign.

"Gold Rush" is the definition of "in it for the money". It means people go somewhere / do something to "get quick rich".

And Silicon Valley has been "about the money" for 20-30 years now. When Wozniak left Apple is a good milestone for when it became "about the money".

I think the warning signs of a 'gold rush' are when ethics go out the window (most recent example is the mortgage industry). Capitalism is all about going where the money is but if the correct rules aren't in place and the culture isn't strong enough the whole system goes to hell like a badly moderated news forum. The key question about SV of today is: are the correct rules and culture in place to keep the gold rush healthy and sustainable?

What would people do if, as you say, everyone gets into it just for the money? Would enough people consider leaving somewhere else?

I doubt it, there's no greater opportunity in the US right now than there is here

Maybe it's time to look past the US.

Why do you say that?

(I'm just interested. It would be nice to hear more.)

Well, I can't back this up with hard numbers at this point, but I'm pretty sure that the SF Bay Area has lead the nation in hiring since 2008. Also, where else in the US are you hearing about people becoming rich beyond their wildest dreams? Or about how a new company IPOing will bring about 1000 millionaires? I dont see it anywhere else

Granted, I think it's more accurate to say that "tech" is the one doing the hiring and making people rich, not the SF Bay Area itself. But since this is the nexus of the (consumer internet) tech industry worldwide, I think its safe to say that a lot of that opportunity is found here

Reply on news.ycombinator.com