by Mike Masnick
Tue, May 5th 2009 6:48pm
With Wall Street firms crashing left and right, some tech startup investors thought there would be plenty of smart and available talent in NYC looking for work, who might be persuaded to join startups. Turns out that it hasn't worked that way. Laid off Wall St. quants seem to want to stay on Wall Street, and don't seem particularly interested in joining startups at a greatly reduced salary and a small chance for eventual stock option wealth. This actually might be for the best. It helps to really believe in what a startup is doing before committing to it -- and a lot (certainly not all) of the Wall St. folks are simply focused on making lots of money as quickly as possible. That doesn't always mix well in a tech startup.
If you liked this post, you may also be interested in...
- Congrats, FBI, You've Now Convinced Silicon Valley To Encrypt And Dump Log Files
- Join Internet Startups In Telling The EU Not To Mess Up The Internet
- Time Warner Promises To Adapt To Cord Cutting With Fewer TV Ads, Gets Punished By Wall Street For It
- The Three Industries That Love The TPP: Hollywood, Big Pharma & Wall St.
- NY Supreme Court Not Impressed By Guy's Argument That Pinterest 'Stole' His Idea