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Thread: For Newcomers in Silicon Valley, the Dream of Entrepreneurship Still Lives
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[quote=GROWTHRING,461450]But buoyed by the frenzy of entrepreneurship around them, many young newcomers exhibit an optimism and confidence no economist could dampen. To some who have watched successive generations land here, this latest crop seems brash and entitled, with short attention spans and a video-game approach to life. Others see in them a social conscience and maturity that set them apart from the high-tech gold diggers of the 1990s. Still emerging from their student years, most have yet to translate their earnings into material tokens of success. In San Francisco’s expensive housing market, they tend to rent rather than own, often sharing quarters. They drive Hondas and Fords and maybe a Mini Cooper or two. In the tradition of start-ups here, they dress in jeans and other casual attire, augmented by the occasional pair of Bonobos. At bars in the Mission District or trendy restaurants in the Marina District, they chatter about software upgrades and angel investors and new applications that could change the world — or at least the way people use their iPhones. They go hiking rather than clubbing, look with a hint of impatience at their less social-media-savvy elders, are picky about their sushi and unhappy with iceberg lettuce. The temples of the valley — Facebook, Google, Twitter, Zynga — loom large in their conversation. Some have already founded companies; nearly all have toyed with the idea. “It’s always at the back of my mind,” said Danny Schauffer, who landed a job at Facebook after college and now works on the company’s platform operations team. Many started fending off job offers even before graduation, besieged by recruiters desperate to fill slots at established companies and start-ups, which at the last count numbered about 23,000, according to Russell Hancock, chief executive of Joint Venture, a company that analyzes Silicon Valley trends. Computer engineers, in high demand but short supply, can command six-figure salaries right out of college, augmented by signing bonuses and equity or stock options. Eric Roberts, a professor of computer science at Stanford, said he knew of at least one $160,000 offer “and I imagine there are larger numbers that I just don’t know about.” But technical skills are not essential. The rise of social media, with its more human face, has drawn graduates in history, psychology or music, and a slowly growing number of women and minorities. Morin Oluwole, 27, grew up in Nigeria, moved to California in high school and graduated from Stanford with a bachelor’s degree in biology and Spanish, a master’s in sociology and a strong interest in fashion. Now she works in strategic partnership development at Facebook, helping fashion designers “engage online.” [/quote]
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