146 karma · joined March 23, 2015
That also explains why startups that have "just" a bunch of users, and no revenue, are still able to raise at massive valuations. Sure the proximate cause is that they'll be able to monetize that attention at some point — but the deeper insight is that attention is inherently valuable, because it's upstream of everything. Every transaction starts with a person paying attention to something.
I think that's tragic, as there are strong network effects in ecosystems like Silicon Valley — everyone would benefit from all the talent and capital being in the same place! Studies show that cities get more productive, creative and ecological as they get larger.
That said, even with that trend going on, I still think Silicon Valley will remain by far the #1 tech ecosystem in the US 20 years from now. It just has too strong of a tail wind at this point (the network effects I mentioned above). People have been predicting its demise for about 30 years now. Maybe this time is different, but so far it's always done well for itself.
As individuals, we look at the world through a microscope, so all personal experience is anecdotal. But these $400k+ earning SEs are a double-digit percent of the engineers I know with 6+ years of experience (N > 10).