I worked at Facebook for 4 years and also don't understand that comment. I think it's just worded confusingly.
I have never worked for FB and I thought it was fine. None of that is FB-specific.
> I take it being an L5 is a good thing?
It's implied lower numbers are better.
>> it was me and 20 other L8s interviewing for the same L6 opening
> but just six months ago you were an L8, and competition to become an L6 was a coin toss?
Yes, due to the number of people competing for the same position.
> No idea what 'price discovery' could mean in this situation, other than a fairly weird way to say 'salary range'?
Salary range implies stability. eg What a company is willing to pay for what positions. There has been a lack of standardization in talent across tech and instability in compensation. Another way to think of it is an increased risk tolerance in wages. This has been fueled by leniency in promotion/raises/hiring when profits were higher.
> And any of this having to do with 'the bond market' is just baffling!
Monetary policy (around interest rates) is directly related to profit margins and hiring. Suffice to say, this is common knowledge for anyone who owns property (beyond a car, maybe) or tracks the job market.
I was 35 years old before I had the faintest idea how money works, like even a little.
And the only way I learned even a little is because I lived in NYC for a bit and ended up hanging with a bunch of Street cats after work, who laugh their asses off about how clueless we all are (in that moment personified by yours truly).
But you get a few G&Ts into them and they’re pretty happy to teach you Econ 101.
That’s at least tangentially germane. :)
I thought it was too minor to even note.
Did we cross paths at all?
I was on Ads for ages, Sigma for like a year, and IG ranking Ml for like 2-ish.
What did you work on? You should pop in the Ex-this/that groups from time to time if you havent, very cool crowd.