LinkedIn shares drop 40%, erasing $10B of company's value

Re:LinkedIn shares drop 40%, erasing $10B of company's value by czep on Friday February 05, 2016 @08:50PM (#11046109)

This is a huge misconception: tech is actually a small percentage of SF employment, especially at the high end. Those $4k+ rents are being paid by bankers and lawyers. It's still called the "Financial District" for a reason. The finance sector laughs at our $200k salaries. They are the ones inflating the rental market because a few k per month is a rounding error.

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Re:LinkedIn shares drop 40%, erasing $10B of company's value by cplease on Friday February 05, 2016 @11:23PM (#11046541)

Ahem.

I know a thing about tech, lawyers, and banking. You're talking about misconceptions about tech while feeding misconceptions about law and banking.

In reality, most people in all three industries don't make $200K salaries. A big chunk (but by no means all) of Bay-area FANG engineers, New York bankers and Biglaw lawyers get this type of remuneration. Should be said too that most (not all) of these are pulling off insane, crazy-making hours as well.

If you think lawyers are rolling in it you have not been paying attention to what's happened to the profession over the past decade. Simply anachronistic. If you're going to generalize, it's a much better time to be an engineer than a lawyer in 2016.

All three of these professions have massive disparities in remuneration.

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Re:LinkedIn shares drop 40%, erasing $10B of company's value by singlow on Saturday February 06, 2016 @12:00AM (#11046615)

He said that (most of) the 4k rents are paid by bankers and lawyers. He did not say that most bankers and lawyers pay 4k rent.

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Re:LinkedIn shares drop 40%, erasing $10B of company's value by cplease on Saturday February 06, 2016 @12:29AM (#11046687)

I doubt there are more lawyers than engineers paying $4K rent in SF. But whatevs.

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Re:LinkedIn shares drop 40%, erasing $10B of company's value by DannyBee on Saturday February 06, 2016 @01:36AM (#11046819)

For all this talk about how engineers "might" get laid off, this completely ignores the massive contraction of the legal market that has already happened.

Outside of a few specific areas of law, and a few high powered law firms, lawyers don't make that much money.

My ex, a nationally renowned family lawyer in literally the richest area of the country doesn't make more money than i do (and she runs her own firm, so it's not like she is being kept down by partners).

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Re:LinkedIn shares drop 40%, erasing $10B of company's value by ryanSrich on Saturday February 06, 2016 @02:01AM (#11046862)

Yeah the comment about lawyers and bankers making more than engineers is straight out of 1995. Outside of highly specialized degrees in medicine there really isn't any other jobs out there paying a white collar wage ($100K +).

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Re:LinkedIn shares drop 40%, erasing $10B of company's value by icebraining on Saturday February 06, 2016 @05:41AM (#11047231)

http://www.bls.gov/ooh/highest-paying.htm

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Re:LinkedIn shares drop 40%, erasing $10B of company's value by infinite8s on Saturday February 06, 2016 @01:36PM (#11049036)

(F)acebook,(A)pple,(N)etflix,(G)oogle? 200k is also fairly easily attainable by NYC engineers.

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