- Jan 30, 2010
- Reaction score
Styleforum is going on Instagram Live with Paul Kelly of S.E.H. Kelly on Friday, April 10, 7:00 a.m. PDT
Wake up tomorrow and tune in as Peter talks to Paul Kelly of S.E.H Kelly, a long time Styleforum member and sponsor, in the latest episode in our ongoing series of conversations about COVID-19 and the impact the global pandemic on the menswear industry
Tune in at 7:00 a.m. PDT
Fok and the Styleforum Team.
STYLE. COMMUNITY. GREAT CLOTHING.
Bored of counting likes on social networks? At Styleforum, you’ll find rousing discussions that go beyond strings of emojis.
Click Here to join Styleforum's thousands of style enthusiasts today!
I've seen this, and I think that a lot of it is that the money is given out too freely, to people who are too young and inexperienced. I've seen this a lot. There is basically no reason you need an office fill of Aeron chairs and expensive leather furniture and free beverages and whatever non-productive crap fills some Stanford grad's start up wet dream. It should come as no surprise, either. I mean, these are guys, 25-28, and they have a good idea, but they've been previously living staying in a dive and subsisting on ramen. Getting VC backing feels like the equivalent of winning Powerball, and guys act as if they have.Problem with all these startups is they spend money like sailors in port.
Best offices, best furniture, best everything.
I feel that it’s diminishing returns. I see it happening on Series B or later funding. That means that you already have your gang of killers, and anyone who will join that core group is not going to come aboard because of the excellent treats or the sweet offices.Amazon was never lacking for capital or access to capital.
These newly funded startups spend like crazy not only because of vanity but also because they believe they need to offer the perks and amenities to attract talent. They believe they are signaling success by having the right office decor, catered meals, etc. And because the other firms competing for the same workers are probably offering those perks and amenities as well. Bit of a wasteful arms race.
Remember we are essentially talking about millennials.I feel that it’s diminishing returns. I see it happening on Series B or later funding. That means that you already have your gang of killers, and anyone who will join that core group is not going to come aboard because of the excellent treats or the sweet offices.