Janus’ Musings

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The "old" economy finally catches with up the "new" one

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Silicon valley is seeing movement of staff from start-ups to old established companies. People are seeing an imminent recession and moving to safer grounds – WSJ article has an article here

Mr. Kher grew concerned, especially when several colleagues fled for nearby Cisco and other large Silicon Valley companies. A self-professed “Wall Street junkie,” Mr. Kher trades his own portfolio of tech stocks, and his fears heightened after he watched reports on CNBC about the stock market’s volatility and a possible recession. “The economy will go down eventually,” he recalls thinking.

In December, he posted his résumé on several Internet job sites. His wife, also a software engineer, encouraged him to pursue a variety of options. But “I wanted to go back to a big company,” he says. “Start-ups throw money at you, but after two quarters, they can disappear.” He adds that he and his wife have discussed buying a house this year, despite the area’s high home prices. In January, the median price of a single-family home in Santa Clara County was $750,000, according to the California Association of Realtors.

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Written by janusmusings

March 8, 2008 at 2:55 am

Posted in Asia, India, Technology

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