What Happens When All The Engineers Are Rich Enough To Retire?
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- เผยแพร่เมื่อ 12 มิ.ย. 2024
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Have you ever wondered what happens when all the engineers are rich enough to retire? Historically, this was never all that likely but with how big tech companies have been recently performing, it’s becoming the reality and making companies. The most notable example is none other than Nvidia. In fact, the average Nvidia employee is likely worth over $10 million given that Nvidia employees tend to have longer tenures and the fact that the stock has grown hundreds of fold within the past decade. So, what happens when all of these engineers decide to take it easy and retire? Well, ironically this is rarely the situation that ends up happening due to a variety of reasons. For starters, these engineers are constantly surrounded by people who are just as well off, so they never feel the need to retire when no one else has. Moreover, most of these engineers have always lived well below their means and stopped working for money alone long ago. This video explains the rise of engineering deca millionaires and why that may not matter all that much.
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Timestamps:
0:00 - Engineering Net Worths
2:12 - Never Rich Enough
6:26 - Finally Rich Enough
10:18 - The Reality Of Tech Fortunes
Resources:
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Disclaimer:
This video is not a solicitation or personal financial advice. All investing involves risk. Please do your own research.
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I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes...
@@Spice-Maria That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@@Chustinasarah My advisor is Victoria Carmen Santaella;
You can look her up online
@@Spice-Maria The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
Well, if engineers start retiring en masse, it could have significant implications for portfolios, especially for those heavily invested in tech companies.
Exactly. With fewer engineers actively working, there might be a slowdown in innovation and technological advancements, which could impact the growth potential of tech stocks in investment portfolios.
Plus, if engineers are cashing out their stock options and retiring early, it could create volatility in the market, affecting not just tech stocks but also other sectors tied to the technology industry.
That's a valid concern. If the market becomes saturated with retirees selling off their assets, it could lead to downward pressure on stock prices, making it challenging for investors to maintain portfolio growth.
The problem is that you don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.
I tried a few in the past years, but I've been with Eric Paul Elmer for the last five years or so, and his returns have been pretty much amazing.
I worked as a software engineer in startups, 6 years at Apple. I never worked with a single engineer who cared about becoming a billionaire. We were well payed, but I main interest was in the fun. We loved what we did. I retired 22 years ago at 45. And what did I do in retirement? I wrote code 12-16 hours a day, 7 days a week. The only reason to retire was I could work on projects that would never earn billions. More freedom.
I still write code for fun. I also slow flip houses.
Thats the most privileged shit ive ever heard in my life
@@jacob9583 a privilege he earned, not given
@@jacob9583ikr
Inspirational
😂
@@jacob9583What would you do if you were in his position?
- What Happens When All The Engineers Are Rich Enough To Retire?
- Stock suddenly drops
As it should, you own the company, the stock represents the desire of Wall St for infinite, not of the consumers or the employees.
Taste of reality, most people just want to do their job and have a good life and get out of the stupid rats race for infinite growth.
I don't get why people are so angry in the comments, I get, the middle income of the middle class myth is over for most people, but not for engineers (as it should be, engineers really are like doctors, not mere peasants that just move boxes).
Engineers love the game too much to retire early. Pay them well and give them a challenge and they'll play till they can't anymore.
most of the people who work at top companies are not true engineers by heart anymore... that is why massive tech layoffs are happening without any real effect to the tech of the company.. only about 10% of the people are doing coding out of their passion, rest are there just for money.. hr is fucked up.. how come job recrument companies even exists? pay money and get job? ridiculous
@@StarnikBayleyshocker high paying profession has people only there for monetary reasons. You think people just want to be lawyers??? Lol
This is true for pretty much any high paying occupations, for ex,) doctors and lawyers. Money isn't the issue, they refused to retire for status, ego, chief, well-known name etc..
You can say that is meaning of life that cannot be purchased/ valued with money. I kinda get that feeling finally having my first OK business. Now I would rather choose projects that have meaning to me more than how much more money I can make from.
and fun, enjoyment of working in new things? Do you think engineers have friends and family to show off their status to? I as an engineer rarely speak to anyone outside work. I stay at home 100% of the time when I am not working. The guy at the grocery store has no idea what I do for a living. You don't live for others, you live for yourself.
More like lifestyle creep. They can't stop working because they've amassed such high debts, thinking they can service said debts.
lol, no. I work in NVIDIA, everyone is lazing around.
@@xc5103 that can also be a factor for some, the truth is somewhere in the middle as the original comment has a point as well.
The question in itself is redundant. If retirement was a priority, they would have done it well before they were "rich enough". Maybe stick around 3-5 years for a wealth buffer. But for those that retire with that in mind the company won't notice as that would just be the cost of doing business.
Right. People just like it
$400 a month for groceries definitely on the low end… I have a bodybuilder friend who works in SF and the same diet he had in Pennsylvania for $300 a month is $600 a month in SF… Just for one person…
My groceries in Greenwich CT for a family of 4 are $2800...
5,000 a month to feed my lard ass
ok yall are getting some real high tier groceries or smtn then cause I live on like 150/mo actual food + snacks
wtf how much is a loaf of bread there@@nerios.v
agreed here. Maybe they are shopping at Wholefoods and paying 6-7 dollars for chicken breast or something. I am honestly still surprised how affordable eating can be if you want it to be.
Nividia ceo is the new taylor swift 😆😆
CEO worship is gross. I'm not exactly a Swifty, but Taylor Swift's contribution to the local GDP spike wherever she goes for concerts is based less on speculation than Jensen's contribution to the NVIDIA stock spike. I mean the whole AI bubble is based on speculation.
Jensen is the new Steve Jobs
Taylor Swift make tangible contributions to the economy.
taylor swift worship is gross to
He better than Steve Jobs. At least Nvidia will have a bigger impact. @vzuzukin
I'd say there is probably a bonus reason you didn't mention: they actually enjoy their jobs! While they are in the rat race, I'm sure they aren't quite in the same one us "normies" are in. Give the rest of us the chance to retire and we'll take it in a heartbeat. Yeah, sure, I could blow $10 million dollars (look at all the sad story lottery winners), but I could also know I personally could retire right now if someone gave me $10 million. I don't need to double or triple or 10x my money; I just need a smart investment strategy and the intelligence to get away from all the people who would make me feel guilty for retiring with "only" $10 million. I could make the funds last until I die and would get out of the horrible job I'm in - which would make my life 10x better instead. Could these folks say the same? From what you said in the video, I'm not sure and that is the difference.
Look up the FIRE movement, it has a lot of tech people in it, but is absolutely possible for all walks of life. I hope you find what you’re looking for
Yeah, even among tech workers for people who are like genuinely interested in computer science topics the kind of work being done at nvidia makes it the dream job working with low level optimizations instead of having to sit in a room and try to explain to non technical shareholders why npm builds shit the bed every other day in their shit heap monolith of a web app that's been accruing tech debt for a decade.
True, but I think that fits in with the "prestige" and "sport" aspect of the video. Enjoying one's work is often times because of the "mission" and the bragging rights to say they worked on [fill in the blank]. Funny thing is just have to look at jobs that don't pay all that well in comparison - like a lot of career military aren't doing what they do because they're going to be so wealthy...
$10 mill is enough to just hold etfs and live on dividends. Anyone who want to live - it is good time to start, because next will be a collapse of services (wages going down, rent going up) and what point of money when you can't buy a good service because there is no smart people in service any more.
400 bucks a month for groceries? So they shop at Aldis?
?
Maybe they have kids…. I spend at least that much 🤷♂️
He is refering to how low the number is, not how high it is
@@haroondaman7162 you guys dont spend 150 per month ? you overconsume
California is expensive
I have tremendous respect for everyone being good at a very niche thing. You are very good at making these kind of videos.
I was born and raised in San Jose around all the tech companies and had a father who worked in software development (pre-google era). We definitely weren't rich, but very comfortable. I knew people who worked for Apple, Roku, Google, and Adobe over the years and they all lived comfortably in either modest houses or rented townhouses. Other people I knew who worked as general contractors lived similar lifestyles. Tech was a middle class career when I lived there (moved several years ago). The only people in the area who really 'made it' had been there for decades with property which had appreciated in value who then sold and moved to a cheaper place.
As a newbie that wants to invest, you must have these three things in mind
1. Have a long term mindset.
2. Be willing to take risk.
3. Be careful on money usage, if you're not spending to earn back, then stop spending.
4. Never claim to know - Ask questions and it's best you work with a financial advisor.
I'm favoured financially, Thank you Jesus $32,000 weekly profit regardless of how bad it gets on the economy.
How
..? Am a newbie in crypto investment, please can you guide me through on how you made profit?
Thanks to Mrs Maria Davis.
She's a licensed broker here in the states
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Man, I just love the way you talk.
It’s so pleasant to listen to your vids :)
Hey great video. Just one thing I'm not sure I agree with. At the end you said the employees' best bet to keep their wealth is to hold on to their nvidia stock but this seems like it wouldn't be the case. Keeping everything in one stock is notoriously risky as their is no guarantee nvidia stock won't lose its value in the future. Seems the much safer thing for them to do to retain all that wealth would be to exchange nvidia stock for index funds as it greatly reduces the risk. At that level of wealth they could probably invest in private equity or VC funds if they want to further diversify. Just seems like keeping all their wealth in one single stock likely wouldn't be the best way to keep it. But I did really enjoy the video (and the videos you make in general).
the background sound during chapter change is soo good in this video. spacial sound effect is great, not sure if its due to my sony earbuds or the quality of music is soo good. keep. it up
your videos are super clean and informative, thank you so much, i look forward to more
Really glad to hear that Nova!
Great as always!
It's similar to Renaissance Technologies, their employees are so rich to retire that they don't even want to.
Would love to see a video about it :)
Thanks for the suggestion man!
@@LogicallyAnswered My pleasure! Renaissance is a tech company that happens to be a hedge fund. And not enough content is made about them :'(
Jim Simons has really hit it out the park with m&m's - math and money!
RIP Jim Simons. One of the best to ever do it.
Genuine question: How tf does a Barista get by in places like San Jose and Cupertino? 😵💫
Lots of roommates. Ridiculously long commute.
Sounds like a nightmare
They don’t. Anyone who lives in the large cities are fools imo especially California.
Have had this exact question many times. I would love a video showing a week of living like that.
I’m an engineer with enough to retire (though less than the amounts discussed here) and it’s really difficult, honestly.
Hahaha
Anyone who hired a financial consultant would have diversified their massive Nvidia positions
Like Bill Gates did .
Not if they think their NVDA stock will grow massively compared to a diversified portfolio.
Look what happened to Enron, for example.
I quit buying IBM stock as an IBMer because IBM became a MUCH worse company, not primarily to diversify.
@@rogergeyer9851 any fool can make a fortune but only a smart man can keep it .
Then there will be a need for engineers and there will be more people going to college for engineering and they will get the jobs. It’s supply and demand. Hint to any high school kids out there, look at the places hiring and get that degree. Engineers are super important, trades are easier to get into and are severely under staffed. Depending on location you can pretty easily make $75-100k as an electrician or plumber after you are a journeyman. And with no student loan debt. Engineering takes debt but will get paid off quickly if you aren’t a buffoon with your $150k a year salary.
"Look for the positions that are hiring and pursue those degrees"
Degrees take 4 years. By that time, the positions will be filled or the company will have given up.
Nvidia didn't pay that much relative to other tech companies, and hardware/firmware eng are making less than software eng on average, and they are located primarily in California. I would be surprised if most people retained half of their original grants. They are likely kicking themselves today.
Assuming they held onto their stock.
Most people don’t hold onto a single company for very long. They’ll sell as soon as it becomes a big percentage of their portfolio or sell as soon as it drops, as they can’t psychologically handle the volatility of owning a single company nor can they handle anything greater than $100k riding on the success or failure of a single company.
Btw Nvidia had several near-death experiences during its lifetime.
If you were given $200k worth of stock of a 5-10 billion dollar company, that came close to death on 3 separate occasions, would you honestly hold onto it in hopes that it’ll become a 2 trillion dollar company?
Hence why people rarely beat the market.
As for RSUs, from my experience the vast majority of engineers or professionals typically sell and diversify as soon as they get their RSUs.
Exactly - it’s foolish to have all your retirement in a single stock, especially if you already depend on that company for a salary.
Thats crazy that you can be a millionaire in San Francisco and still not have enough money to retire comfortably. If that isnt a sign of how bad the cost of living has gotten in California, I don't know what is
"I bet there's a lot of Nvidia engineers who sold more stock than they needed to for one reason or another, and they probably get made fun of by their friends for throwing away a $20M opportunity." Absolutely not. The reason is diversification, and you get made fun of for /not/ selling your stock as you get it. You already have the vast majority of your income tied to one company, and you get more RSUs granted each year if your performance is adequate. Prior to, and even during the run up, cost averaging your selling is the smart move. This is true for all the major tech companies. Your understanding of RSUs and how employees make use of them is deeply flawed. Your math at the beginning is also rife with incorrect assumptions.
Source: I have 14 years experience at these tech companies and have been getting RSUs my whole career from FANG+ companies.
Really depends on the given engineer's mindset. Diversifying is definitely the safer move financially, but a lot of engineers don't go down that path. This is especially true as you work up the hierarchy at these companies. Steve Ballmer, for example, is about to overtake Bill Gates simply because Bill diversified and Steve didn't.
@@LogicallyAnswered There are *much* fewer executive-level people, and their compensation is skewed even further to be almost entirely equity-based. The average engineer (which is what the video was purported to be about) typically gets grants that are around their salary (new-grad to senior), once you get to staff engineer and higher, you then start to make a fair bit more in equity, and in my experience, it's not until principal or distinguished that people start to really avoid divesting and diversifying away.
Overall, this video was just poorly researched and clearly shows a lack of understanding of the mindset that actual engineers have at these companies. Videos from other TH-camrs that have actually been employed at these companies have much more nuance and are actually based in reality.
@@LogicallyAnswered "a lot of engineers don't go down that path" what is this statement based on? anecdotes?
Great video.
Me only having started my career in my early 30s: 😢
Good luck :)
Why?
"They don't feel rich from a psychological perspective. Everyone they interact with on a daily basis is just as stacked."
If 100% of your friends are multi-millionaire tech employees, you really need to get out more and meet other people.
😂
well tbf, it's silicon valley; that's like the entire population
There definitely are lower class people around but it's totally possible that almost everyone you meet outside work is also in tech
I was working for Microsoft in the early 10s and late 2000s. Microsoft was buyout companies left and right and moving more and more into a main company that parented other smaller companies. This time period was short around 6 years when now Microsoft barely creates anything meaningful. I was making a good amount of money in stock alone I had 2million, and I was still 35. Many other engineers were in the same position, so while Microsoft was buying up startups, we thought about going to management to pitch an idea and create a start-up but within the company itself. They agreed and we became intrepreneurs. From then on a lot of other senior engineers were starting internal startups, we had the team and mobility of a startup but with the backing of a big company. We made a lot of progress, though it didn't last and the company cut all our budgets since they rather just buy already made startups. A lot of us left the company and continue on our own, but it was hard to get financing since a lot of what we did was in the research phase still.
Great video brother thank you!!
Thank you as always Daniel!
You can still buy huge houses in central Texas for 3-600k
423 dollar per month grocery bill is very similar to what we are paying in Hong Kong. The 2 million 3 bedroom house in SF looks much more spacious than the 2, million 3 bathroom condos in Hong Kong, which is usually around 80 to 120 m²
Happy for your friend : )
Friend’s dad* hahaha
The feeling of wealth is not truly based on your real buying power, but your buying power relative to the community you identify with. Hence why a US Dollar millionaire in Bali or Chiang Mai feels way richer than one in SF or NYC.
We feel poorer nowadays partially because social media has made the "community" we're keeping track of beyond that which were physically in, so we're comparing our economic success against the likes of Elon Musk and Jeff Bezos instead of capping our expectations at the family with the "big house" in our neighborhood.
Should all CEOs retire because they are all rich enough to retire?
Huge overestimate on the stock IMO, also numbers are heavily skewed towards exec/senior engineers. A lot of people are newer joiners, and a lot of people quit, they don't catch the full growth of stock like that
Can you make a video about the economics of kick. I want to know how they're making money and paying their creators a lot with no ads
To answer the question in the title, make the threshold for entry level positions lower. Lots of people have the skills but don't have a 4 year degree and they don't get considered for entry level positions.
Nvidia is a great company with a great CEO, but the stock is going to come crashing down at some point in the future after people figure out how to make AI chips cheaper and cheaper or a better technology comes along. Depending on how the stock compensation plan is set up, employees may not be able to sell their shares unless they quit the company. If you stay at Nvidia and watch the stock lose 75% of its value, you end up being a middle class engineer living in an expensive area with an average-sized house thats vastly over priced and in an over-staxed state. The only way you could retire comfortably would be to sell your house and go to a less expensive area, but you will be doing it with Nvidia stock being worth a lot less. In life you need to do things while you can rather than when you have to. I say retire now and move to a lower cost location and wait until NVDA stock peaks before you sell it. Then start your own company, go skiiing every day, or do whatever you want just like I'm doing now as I sit here and write this comment. The total number of times I regretted quiting my job is zero.
Agreed. These guys are smart enough to know that they hit the jackpot with their stock bonuses. The chances of them multiplying it again by that magnitude is low. They should cash in right now (or at least risk manage by cashing in part of their stocks) and continue working there or somewhere else if they wish. I’d sell the majority of my shares, pay my taxes, put a portion into safer income generating assets such as treasuries and real estate, and go into semi retirement because I know I can’t fully stop working if I’m still physically able. Then once the market crashes, I’ll DCA my cash portion and buy up a bunch of properties for cheap. Then my family will be set for generations.
When all the engineers are rich enough to retire, AI, created by them, will replace em' and those who study Engineering now will have wasted their time 💀
Yikess
We’ll see hahaha
That makes no sense, we'll always need engineers
@@roaryea but not thay many
@@roar mostly non coders as ai will have mind of thousand of good developers.Only one man can do 1000 of developers work with ai at scale.So yeah don't study cs engineering go to the core branches or physics chem maths
Great video as always
Thank you as always Balpreet!
The same thing happen at credit karma when it first started, eventually new engineers coming in and it goes back to normal
I worked in HR for several big tech companies. Software engineers are usually 30 when they reach multi-millionaire net worth. So, if it was you and you retire, what are you going to do for the next 50-70 years? Golf, beach, etc is going to get old after a decade and you would have wasted some of the most productive years of your life. Most engineers just take a long vacation every 2 month and keep earning millions. They only "retire" to do startups. This makes perfect sense to me. It's not like you have the option of working when you're 65+, so why retire early and give up the opportunities of youth?
I don’t understand how does the average software engineer who makes $110K have a multi-millionaire net worth after 7 years of working?
All the highly skilled engineers I know actually love their job. That’s their main motivation, money is secondary motivation.
How can you bluntly multiply the total stock bonus by 200? Only the bonus before a decade would be 200x, not the recent ones.
Man said he was a multi millionaire and still saw himself as middle class..... Lmao bro is filthy rich
That's a pretty heavy duty question 😂,
The real question is how they got rich in the first place, from a personal angle I'm aware continuing to invest in periods of higher volatility is a Smart way to build wealth.
You need to get a financial planner or expert on investments to aid diversify your portfolio to commodities index funds, digital assets etc, to provide illumination and guidance in the financial markets. That's one of many proven methods
Indeed, Shannon Saccocia, Chief Investment Officer at SVB Private, recommends that investors refrain from making big changes to their portfolios without consulting a financial planner and try to stick with their long-term financial plan.
Most people miss it but the secret to retiring comfortably is finding a way to make returns while your money works for you.
in my case Nathan Travis Cook has assisted me in doing that effectively, I'm not an expert so I lack experience in investment strategies, I work and my consultant handles the rest.
This video is absolutely accurate, 100%. Leading engineers don't quit. The unremarkable engineers do quit and do something else, like flip homes, travel vlog, something else.
So why am I not hearing a bunch of comp sci students dreaming to get into Nvidia yet? 😅
Nah you aint.
Most people who go into engineering dont do it due to money being their main motivator.
People at Nvidia earn that much due to being into a weird perverted arcane niche that most people dont like joing - even among those who know how to do it.
Similar situation exist with aerodynmics. It pays very well, but compared to dealing with rigid objects people lile doing it waaaay less.
No most people work for who pay the most, that’s why FAANG are top tier.
...people who become engineers, do it because they want to and like their job?
...they might even want to keep on doing it?
Who would have guessed?
0:55 "And that is being conservative" Those are heavy assumptions. You can only do that when you are living within your means and ignoring about half of your compensation, not tapping it to buy a house, etc, etc.
If you are paycheck to paycheck and pay off your debts, you could be closer to the more recent years accumulating some stock, which would be a shorter time frame.
I'm an engineer who "retired" early. Retirement only means that you now own your time. You then discover that in life there are only two stages: you're either growing or you're dying. If your organization gives you the freedom to pursue your craft, and align your purpose with the work that you do, you may choose to stay. In fact, today, I help cross-industry leaders and organizations create systems where individual and organizational purposes align, and professionals have the freedom to choose and do great work. Again, we're either growing or dying. Where does retirement fit? Choose growth. ❤
2:20 legit expect the house prices almost everything cost same in my country average wage liek 1500$, and most people dont even get that high crazy
will the corp suffer when all the solid employees leave.??????
Uh. Simple answer: market easement
im surprised Dell didnt just stay retired and let the company fail....they still to this day are not as big as they were...is all the work worth it?
Well, he’s a lot richer today hahaha
@@LogicallyAnswered is that because of the stock buybacks?
@@AnonymousAccount514because he owns a lot more shares
Many people sell stocks the moment they get them
I'd retiring or working less in 8 years, and considering this financial recession, Im deciding to begin taking up skilled trades. I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $120K per year but nothing to show for it yet.>
You should contribute to your retirement diligently, or better still look into financial planning don't come to youtube for advise, consult a Local or trusted online broker/ planner
This is huge! would love to grow my reserve regardless of the economy situation, my 407k has lost everything accrued since early 2019, at this point, i'm in need of guidance, can you point me?
If there are employees staying in the company for anlong time it means the company is treating them well in any means or metrics
10million doesnt get you far in SF.
😂
It’s not that bad in the Bay Area lol.
😂
Maybe if the 10 million is in cold hard cash that depreciates every year, then it probably won't But a 10 million nest egg that compounds 10% every year? It should last generations.
@@nelsonw.9483 where u get that 10% dude
Honestly I'm so scared of the stock market crashing
money is not everything I really like coding and creating stuff and if I was a hardware guys I guess I would love designing and shaping and solving problem as well.
Employees rarely keep a lot of equity in the company they're working. If they did and something happened to the company they would both lose the job and their equity
Most would get bored and keep working or start new businesses
Can confirm, my net is 0.1% for my age and I'm still working because I like to contribute
The key to wealth, is being satisfied with what you already have. If you want to double your perceived worth, simply half your personal financial expectations. Love what you do. Enjoy your time here. One day it will all be over.
who not hedge their NVDA stock by selling half and bying the S&P 500 that way their are covered if it tanks for some reason in the future?
Quite simple, the layoff culture was the doing of CEOs and Wallstreet in their greed. Exarcebated shortages will be the response after properly good engineers are rich enough to retire. They will demand higher salaries, coast more and viola the layoffs will have backfired.
Treat people humanely and you win their loyalty. Companies forgot the value of this. I would stick to a company that compensates me fairly even when I dont need to. The PSEs, pips and all these BS will come to backfire very soon.
"you're not rich in silicon Valley" doesn't really make much sense in retirement terms. If you're not working nothing is tying you to that cost of living.
they are sticking around to get richer.. "its just the beginning" is whats keeping them working..
Believe me, there is much more fun in life than writing a code. Especially now, when the world needs some impact from adequate people to not go south in upcoming years.
Even the Janitor at
Nvidia is a millionaire
The early Google chef is worth tens of millions. Google it!
Typically support staff are contractors.
As of right now, NVIDIA has job openings in over 20 countries, including roughly 250 combined job openings in India and Israel alone. There's also, of course, the Taiwan facilities. With this said, there should be plenty of opportunities to work for NVIDIA somewhere else outside of Silicon Valley and the rat race that is living in California. Personally, I wouldn't be a fan of living in a state of 35+ million people when there's a water crisis there to begin with.
For a channel that prizes itself on giving "logical" answers the title was standard click-bait.
If I had 10M,I would retire to do what I love. As an engineer works in semiconductor Fab, 10M net worth is very difficult compared to software engineers and the life is harder (24x7 on call usually, working in production has very high pressure).
We don’t have such high compensation as software engineers since our profit margin is much lower than software (The overhead is very high. It costs billions to build a fab). Most Fab jobs suck. I regret to choose this career.
I hope my portfolio will grow to 10M+ in 10 years, retire and do what I love.
Yeah it's just an unfortunate aspect of how our society works. The people at the lower levels of abstraction, manufacturers and hardware designers, work the hardest in terms of effort and designing. People at the higher levels of abstraction, like corporate executives, product managers, and even software engineers, get by far the highest pay while doing much easier work. I could have been a "real" engineer, doing design work that is directly linked to physics. But instead I went into software engineering because it's easier, pays better, and has much more flexibility in terms of job opportunities. And it looks like that aspect of society isn't changing anytime soon. I hope you get to retire in your timeframe.
90%+ of these guys with tens of millions will have all that money blown by the third generation. That's the stat on these things.
People need to stop thinking about the money and what was already pressure for the worker to begin with.
We are all not treated equally as is so making spaces for people to feel equal is the utmost important and not bringing them down because of their profits. People need to start seeing themselves in the exact situation and not “I can do anything better than the next person.”
We have to strategize how to care for ourselves and others the similar to how our families have treated us and if not all were fortunate to have those moments earlier in their lives, now is the time to show that they are to see that the world can actually be way more better than this.
I am worth more than what you stated and I feel poor still. I made most of my money selling my RSUS and buying options. I feel I need 250 million + to feel wealthy. I dont want to move to a lower cost of living area because I am Asian and the middle of nowhere USA is hella racist.
Damn I’m so broke
"Clueless athletes" that's so right, way to speak the truth. I love it
😂
Nah they are ridiculously rich and even with the taxes there are ways for them to make passive income on the side to add into that and those can be structured through offshote businesses and foreign trusts so they actually gain more. Don't be fooled, they can do quite a bit on their salary and then some. Take a look at even a 'lowly' position for a start-up in Silicon Valley and they on average pay more than you would ever be seen locally for a remote position to start off.
I always thought that the only reason you would ever want to earn “proper” money was to be able to say “f*** you!” at your boss’ face. Apparently, it’s not at all about how much money you earn.
$5 is the low end of fuel here btw. We are currently at an average of $5.50
Damn, I passed on Nvidia for Apple when I left Intel.
How is that going for you so far?
The ultimate Silicon Valley problem: too much money, not enough meaning.
I'm a for fun software engineer/security researcher at a nice place in Canada, everyone seems to think I should go to silicon valley lmfao, I don't really want to... I'll just make my own company here instead of wasting my money on just being alive in SF
😂😂😂
Depending how n your lifestyle, you can’t retire on 10 mil. It’s too little.
Nvdia deserves our respect because hardware RND is pain in the ass.
Trust that the system would NEVER allow that.
Not to mention, if they are like most people, the more they earn, the more they are likely to spend.
😳
early mate!
Thanks for being early man!
You know, in the end your work is just a work, until you have your own business. If you didn't convert your opportunities into dids now, you may find it hard later.
Stock is never granted in 15-20 year vesting periods. It’s typically 4 years at a time. So your math is very, very off
Nvidia is suffering from success now?
😂😂 it’s how there’s people gassing it up talking about people work in multi billion dollar companies for “passion”. Let’s be honest a vast majority of people just don’t want to be out on the street and if they had a chance to do something as well paying they probably would. This applies to almost every industry. McDonald’s starts paying 100k salaries and two years down the line there’s going to be a lot of passionate burger flippers
When is silo coming to android
Hoping for 2025
A mass retirement of software engineers is an opportunity for me - A CS Major
Companies have dug themselves into a hole.
That's what happens when you don't have owners in a company but varios funds and managers ...
China and russia even EU have a much more sustainable compensation.
One that actually keeps employees needing to work to survive not just greed for more