Quoting from The Ken (which btw I would highly recommend).
How many of you think this is true for Bangalore and problems that we are facing now with this generation.
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Between 2020 and 2022, investors pumped billions of dollars into startups whose founders and leaders offered up the mythical “hypergrowth” narrative. Those startups, in turn, pumped money to hire and grow a layer of mid-level and senior-level executives whose job was to deliver on that hypergrowth narrative.
And salaries went through the roof. Hikes of 50% and above were par for the course.
Cut to the present.
If overvalued startups are widely recognised as a problem, can overvalued employees escape the same fate?
A CEO of a prominent company estimates that “in product and tech, 20-30% are in this category”.
CEO will always say employees are paid too much
Who exactly is recognising overvalued startups as a problem? Most are still trying to run the grift and were only hampered by interest rates lowering their runway. You can see how many are opening AI startups that have nothing to do with AI whatsoever, not to mention the number of Crypto / Web3 companies in our country.
Executive pay has always been the problem, take a look at any graph showing the skyrocketing ratio of Executive:Employee salary ratio, and for terrible decision making and management as a trend.
Anyone who doesn't agree with that anology will tend to deny this as socialist truth bro.
Just look around and see what others doing the same job in TCS WIPRO are earning.
It's ok to get 20/30% higher. But these guys earn 3x and sometimes 4x
Just one point, TCS Wipro charge higher from their client and pay peanuts to their employees. In the last 2 yrs due to competition they had to increase the pays by approx 50-75%
Agree, I had a friend who had 1yo, worked at twilio, had a stock comp of $42k, and around 28lpa cash.
In this market no one would want to touch them.
Same is the problem with mid level and senior execs, they were paid to inflate the valuation, increase top line, launch new businesses, if you see how the market is functioning right now, it’s more like focus on bottom line and extract the value out of what is already there.
I see many round of layoffs coming in few mos. A friend who runs a startup (just got funded) got resumes from many director level folks at zombiecorns, and obviously he can’t hire them.
Reckoning incoming.
Journalist here. What do you like the most about Ken stories and which other media houses do you like?
Honestly that Ken was the pioneer in deeper journalism in India - specially into tech and the business sector.
The morning context is a similar outlet, but they seem to be selling way more negativity than might even be true.
There’s also TC - but TC is not that relevant for India
Yeah I also subscribe to them but the generally they are more on the pessimistic side, need to be more balanced in opinions
The Ken really does half baked surface level opinion stories. Wouldn’t trust any of their stories. It’s not as black and white as this article seems to suggest it is.
I am close to 20 yrs experience. I would not consider myself industry veteran yet.
But I find thier research close to reality of things
To be honest, Ken does come with really honest opinions. Had worked with a startup where there was controversial things done, came to the surface on Ken
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