Comments on: Valleyboys: It's All About the Money

By: DJHowatt

DJHowatt — Sat, 17 Nov 2007 07:40:34 +0000

As much as I love to disagree with Jeremiah :-) I have to go with him on this one. I’ve worked in the Valley for 24 years and have seen way more people working hard than people getting rich. So why do we do this? Fun is part of it. Change, newness, importance are part of it too. Sure, we wouldn’t mind getting stupid rich but the odds are against us.

By: Cris Shaikh

Cris Shaikh — Fri, 16 Nov 2007 16:43:13 +0000

I lived in the Bay area for three years(2002-2005), and worked in the Valley. As someone from the outside, who honestly hated California, I still can’t argue that it’s all about the Benjamins there. I think it’s about significance. People want to start the ‘next big thing’, whether or not that brings in riches. The Valley didn’t seem more money driven than Salt Lake, Boston, SF itself, or anywhere else I’ve spent a lot of time.

By: Alex Landefeld

Alex Landefeld — Fri, 16 Nov 2007 15:16:54 +0000

Money is merely a utility for enhancing growth. SV is not about the money…though as a “utility” its plentiful…its about the people and the culture they’ve created. Those seeking to locate in SV, NYC, Toronto or Boston (or any other perceived “money” center) for the sake of money are locating for the wrong reason. You can locate in Pittsburgh or San Antonio or Anchorage or Mumbai – the important thing is: where do you feel comfortable, where does your family want to be? If you’ve found that place, that’s the place to be: people and money can come to you. SV provides an awesome place to live (I lived in San Mateo for two years while working in SF’s financial district), with awesome resources…but this web environment, and the ability to communicate allows for where you want to be, to be the place to be. :-)

..alex.

By: Aaron Brazell

Aaron Brazell — Fri, 16 Nov 2007 15:15:31 +0000

I think I’m saying what Greg G is saying. Only I’m long winded and he says in Twitter-like efficiency.

By: Greg G.

Greg G. — Fri, 16 Nov 2007 14:52:58 +0000

I think it started off with a very few idealists who end up striking it rich almost by accident; afterwards everyone else swoops in and tries to get their piece of the pie.

By: Sean

Sean — Fri, 16 Nov 2007 13:28:10 +0000

I don’t think it has anything to do with motivation as much as it does with opportunity.

The Valley has lots of money. The Valley has lots of smart people. Both of those (in abundance) are ingredients for great products.

Other places might have money, still others might have smart people. But it’s the places where these come together (Seattle’s another place) where you get all this innovation.

Sean

By: Jonathan Trenn

Jonathan Trenn — Fri, 16 Nov 2007 12:51:32 +0000

Well, I don’t live in the valley. Been there once. But I’d say that the passion to create something (a passion which often needs money) is the initial driving force. Then the passion for money itself kicks in.

That seems to be the case everywhere, only in the Valley, it’s on steroids.

In the Valley, it seems as if there is a culture of innovation that you don’t see elsewhere. Or it you do, it isn’t as prevelant.

Now when Jeremiah says “It’s not the money…” his idealism may be outweighing logic. Because money is behind everything. Afterall, 4 year olds (and twelve year olds) have to eat.

By: TedC

TedC — Fri, 16 Nov 2007 12:42:41 +0000

As anywhere, “The Valley” has a handful of exceptional people, but as anywhere, the population majority is out for the $, ineffectual, and pretty darn average. As for new, I havenâ€™t seen anything truly new in a long time. What is new is how people are responding to some fairly bland materially inconsequential offerings.

By: Doug Haslam

Doug Haslam — Fri, 16 Nov 2007 12:28:28 +0000

Being a Boston guy, I guess that puts me in one of your four hot spots. Was Jeremiah really saying it’s not about the money at all? I don;t think so, but that’s the thing with Twitter and 140 character limits– sometimes full meanings don;t get explained- but it does prevent us from rambling like I am here.

I’m not even convinced you two are in complete disagreement here. The truth probably lies in the middle: I’m not cynical enough to believe everyone is in it just for the money, but is the “exit strategy” the #1 thing in alot of cases? Yes– whether it is driven by the entrepreneur/innovator or the people brought on board to raise the money you need in the first place.

One thing I haven’t seen yet is the crazy stupid money and lack of rationality we had in 1999– we’re not even close to that yet. Wait for the $20m A rounds, then we’re getting nuts. Pass the Kool-Aid…

By: Jeremiah Owyang

Jeremiah Owyang — Fri, 16 Nov 2007 12:15:11 +0000

In those companies you mentioned, how many of those employees will make it wealthy so they can stop working? I’ll bet it’s limited to many of the founders and early employees.

Innovation drives this hunger, not all inventors are trying to ‘get rich’.

Also, take the rest of my tweets into context (before and after the one you selected). I’m from Silicon Valley but am in Barcelona right now, and the quality of life is nearly the same, yet people aren’t stressing to work so hard. It’s a pretty clear distinction.

Secondly, I’ve heard tech folks say, if they wanted to be wealthy, they’d have gone into finance.