Knowing when to quit a FAANG job is important. People who constantly fantasize about quitting their job are likely the ones who should quit. Technical founders can extract valuable skills, network, and credibility from a FAANG job. However, the assumption that working at FAANG companies guarantees success in entrepreneurship should be critically examined. The reality of working at a FAANG job is not as glamorous as it seems, with many employees working on less exciting projects. Transferable skills gained from working at FAANG companies are valuable in startup environments, but founders need to unlearn certain habits and mindsets. The misconception that working at a FAANG company guarantees easy funding for startups is debunked, and the retention trap in FAANG companies can trap employees and hinder their entrepreneurial goals. Knowing when to leave a FAANG job is important, especially if one is deeply unhappy and constantly fantasizing about quitting. Having a plan when starting a job at a FAANG company is crucial for success.
When you should quit?
Knowing when to quit a FAANG job is important. Here are the key points discussed in the video:
- People who constantly fantasize about quitting their job are likely the ones who should quit.
- The speakers unintentionally became experts in giving career advice to young technical people and founders in big tech companies.
- The speakers have never worked at a FAANG company but have been exposed to this topic frequently.
What value can technical founders extract from a FAANG job?
Technical founders can extract valuable skills, network, and credibility from a FAANG job.
- Many founders misunderstand the value of a FAANG job due to societal perceptions and influence from others interested in managerial or employee roles.
- Recruiters and societal perceptions can influence college and career choices, leading potential founders away from technical roles.
- Technical founders can gain valuable skills and knowledge by working at a FAANG company, which can be applied to their own ventures.
- A FAANG job provides access to a vast network of talented individuals and potential investors, which can be beneficial for future entrepreneurial endeavors.
- Working at a prestigious company like FAANG can enhance a founder's credibility and reputation in the industry, making it easier to attract partners, investors, and customers.
Assumptions - Why working at FAANG makes sense?
Working at FAANG companies right after college is often seen as a guarantee for success, but these assumptions should be critically examined.
Key points:
- Many potential founders believe that working at FAANG companies will provide them with the necessary skills, network, and credibility to start their own successful ventures.
- However, this assumption overlooks the fact that success in entrepreneurship requires more than just technical skills and industry connections.
- It is important to consider individual goals and aspirations before blindly following the path of working at FAANG companies.
- While FAANG companies offer attractive compensation and benefits, they may not align with everyone's long-term career objectives.
- Ultimately, the decision to work at FAANG companies should be based on a thorough evaluation of personal goals, skills, and values.
Reality of the job
The reality of working at a FAANG job is not as glamorous as it seems. Many employees are not working on the most challenging technical problems, but rather on less exciting projects. It is crucial to talk to someone doing the job to understand its true nature, rather than relying on recruiters.
- Most people at FAANG companies are not working on the hardest technical problems at a large scale
- Employees often work on less exciting projects like ad servers or translation
- Recruiters are incentivized to sell the job, so it's important to talk to someone actually doing the job
Transferable Skills
Transferable Skills Summary:
Working at FAANG companies may not directly apply to startups, as the infrastructure and tools are different. College coursework may be more relevant as it doesn't provide a rigid process.
- Skills and processes learned at FAANG companies may not be directly applicable to startups
- Founders need to unlearn and adapt to a different way of working
- College coursework may be more relevant as it doesn't provide a rigid process
- Transferable skills gained from working at FAANG companies are valuable in startup environments
- Unlearning certain habits and mindsets developed at FAANG companies is necessary in startup culture
- The ability to launch quickly and adapt to changing circumstances is emphasized as a valuable skill in startups.
Path to get funded
The misconception that working at a FAANG company guarantees easy funding for startups is debunked in this video. While having a FAANG job can help with initial funding, staying too long can be a negative signal to investors. The path to funding as a FAANG employee is different from that of a typical entrepreneur, and successful fundraising stories are not representative of the overall reality. It is important to avoid thinking that funding is easily accessible for FAANG employees.
The retention trap - What's the company trying to do?
The retention trap in FAANG companies is a highly gamified system that incentivizes employees to stay through equity vesting and additional equity rewards. Leaving the company means losing vested equity, creating a loss aversion trap. This trap is especially dangerous for founders who see the equity as their savings. Key points include:
- FAANG companies use tactics like high salaries, equity bonuses, and fear of missing out on projects to keep employees from leaving.
- Employees feel trapped and unable to pursue their own entrepreneurial goals.
- Working on non-core projects within these companies can lead to disappointment and frustration.
When to get out?
Knowing when to leave a FAANG job:
- If deeply unhappy and constantly fantasizing about quitting, it may be time to leave
- Keep personal expenses low to avoid getting hooked on the money
- Leaving a FAANG job doesn't result in much loss as good programmers can always come back
- Message is for unhappy developers who need to make different decisions
FAANG Optimization
FAANG Optimization: Key Takeaways for Technical Individuals Wanting to Become Founders
- Consider the optimal duration of staying in a FAANG job to gain value without getting trapped.
- Avoid working on projects that will make you hate your life or the tech industry, as it can lead to unhappiness and hinder optimism crucial for startup founders.
Plan at the start
The most profound aspect of the topic is the importance of having a plan when starting a job at a FAANG company.
Key points:
- Knowing what you want to achieve by taking the job, such as getting a visa, saving money, or enhancing your resume.
- Having a plan for when you want to leave the job to navigate potential challenges or conflicts, such as bonuses.
- The allure of bonuses can often overshadow other considerations without a plan in place.