FWIW,.....
I went to a farewell party for an old friend last saturday, who recently got layoff from a high tech firm and is moving out of state. There were about 25 guys at the party, mostly engineers (and many were millionaires last year) from companies such as CSCO, CMRC, RATL, SEBL, SANM, etc.... Most common questions and discussions at the dinner included:
1) When will you sell your house?
2) Did you refinance to get cash out to pay for your monthly mortgage?
3) Are you thinking of leaving the bay area?
4) How did you manage to pay taxes on your options exercised last year?
We even had a pool going for who will be the next one getting a pink slip. If I did not hear and see it with my own eyes, I probably wouldn't believe that things can be that bad; but unfortunately, that is the reality of what's happening here in Silicon Valley.
It will get uglier before it get better. Take it for what it worth!
Dai |
