500k/yr, not enough savings to last even a year, and really no job prospects in sight?
Doesn't add up.
I was hearing the same about an acquaintance who is an experienced <reasonably well paying stack> IC, earning "market rate" for the tech which is about the same as C-suite pay for non-tech companies in my country. Struggling to find work, running out of savings. Turned out they were declining top market end Python IC roles because they wanted to specifically earn the same as <well paying stack> instead of taking a ~30% paycut.
Do not let your title or previous earnings inflate your ego into homelessness. Save well. Even the good jobs don't last forever, so make them count.
It seems from the article they used the savings to keep the business running.
If that’s the case it’s not surprising. Businesses can be incredibly expensive to run if you are not profitable.
Most likely a fake figure.
Makes me think of this:
> There is a pattern I keep seeing, especially in the Bay Area. So many fabulously wealthy people where it’s never enough. Never enough money.
Somehow people make 500k a year and end up broke and I know families making 60k with 3 kids and they are still saving and getting by.
https://irrationalanalysis.substack.com/p/its-just-money-its...
Why is he not applying for individual contributor positions? He can't find the job he wants.
As they say, the quickest way to a million dollars is to start with two million.
>How a $500k/Year AI Engineer Lost Everything
Apparently they saved no money and went homeless in a matter of months (?!).
People who work in mcdonalds putting the fries in the bag do not earn 500k/yr and somehow manage to avoid homelessness.
It is quite telling that they blame the AI rather than themselves.
They spent 2 years building savings after their business failed. Those savings seem to have lasted them around 8 months. And yes there are probably people who work at McDonald’s and can’t afford rent.
if you made 500K/year and now can't make ends meet then god help you
That $500k/year seems misleading, at best it's probably just revenue of his "mentorship" business at its peak.
At least I hope so, because honestly, if even after $500k/year you don't have enough savings to prevent you from being homeless, all that money was wasted on you.