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AustenAllred's profile
Austen Allred
Austen Allred
Austen Allred
Verified account
@AustenAllred

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Austen AllredVerified account

@AustenAllred

CEO @LambdaSchool (YC S17): A CS education that's free until you get a job. I have made remarks that I do not agree with.

San Francisco, CA
lambdaschool.com
Joined December 2010

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    Austen Allred‏Verified account @AustenAllred Aug 13

    Still wrapping my mind around the first sentencepic.twitter.com/26rcDBguYq

    6:44 AM - 13 Aug 2018
    • 5 Retweets
    • 72 Likes
    • Andrew Petrik Keith Wasserman Mark Zhuk 🦈 Tim Ogden Xan Ditkoff Sid Gidwani The Twenty Minute VC Anthony J. Campbell Louis Gelinas
    14 replies 5 retweets 72 likes
      1. New conversation
      2. Andreas Klinger  ✌️‏Verified account @andreasklinger Aug 13
        Replying to @AustenAllred

        Apparently the thinking about salaries goes from poor to rich: ... hourly salary ... monthly salary ... yearly salary And at some point: Thinking in hourly salary again

        1 reply 0 retweets 11 likes
      3. Tobia De Angelis  ⚡ 👾‏ @tobdea Aug 13
        Replying to @andreasklinger @AustenAllred

        oh so that's what people call the circle of life!!

        0 replies 0 retweets 2 likes
      4. End of conversation
      1. Peter Grillet 👨🏽‍💻 🍰‏ @MrGrillet Aug 13
        Replying to @AustenAllred

        Where is this from?

        0 replies 0 retweets 3 likes
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      1. New conversation
      2. Austin M. Craig‏ @austinmcraig Aug 13
        Replying to @AustenAllred

        In 2017-2018, Bill Gates made $268k/hour on his roughly $91B fortune. So I guess it's possible?

        1 reply 0 retweets 1 like
      3. visakan veerasamy‏ @visakanv Aug 13
        Replying to @austinmcraig @AustenAllred

        Nice contextualizing. Makes it clearer that “my time is $200k/hr” for regular mortals is kind of a negotiation trick / attempt at psychological hack

        0 replies 0 retweets 2 likes
      4. End of conversation
      1. New conversation
      2. Harry Heymann‏ @harryh Aug 13
        Replying to @AustenAllred

        With a full time schedule that's $400M/yr. The man is rich but I don't think he's *that* rich.

        1 reply 0 retweets 5 likes
      3. 1 more reply
      1. New conversation
      2. Mayor Of Bitcoin‏ @MayorOfBitcoin Aug 13
        Replying to @AustenAllred

        Difference between "full time" vs "smart time". I allow 2 hours of my day to be spent doing for others. In that sense, I have a scarce supply of 700 hours. Regardless of demand for Accountants, I bill based on scarcity. New hours = $400, Old Hours = $80. John is same.

        1 reply 0 retweets 3 likes
      3. Mayor Of Bitcoin‏ @MayorOfBitcoin Aug 13
        Replying to @MayorOfBitcoin @AustenAllred

        You have a marginal rate of $400, and work to replace lowest worth Old Hours with New Hours. So long as new work > deprecation, one is increasingly profitable. Seeking for a pure and complete swap is unprofitable. The objective is Marginal Profit, not total profit.

        1 reply 0 retweets 0 likes
      4. Mayor Of Bitcoin‏ @MayorOfBitcoin Aug 13
        Replying to @MayorOfBitcoin @AustenAllred

        Example. An $80 / hr task is worth $80. Best there is = $120. Swapping 100% of $40 tasks with $80 tasks = 100% gain, but 100% of tasks maxing out at $120. Better is to swap to $400 / hr task, 5% of hours = 95% spent doing $40 tasks, 5% doing $400 / hr tasks.

        1 reply 0 retweets 0 likes
      5. Mayor Of Bitcoin‏ @MayorOfBitcoin Aug 13
        Replying to @MayorOfBitcoin @AustenAllred

        One creates longterm growth, the other creates longterm stagnation. Likewise, in budgeting, one needs X to live. Say $40,000 for 'wealthy' individual. This means they could swap out 100% of working hours for $400 / hr tasks, if they reduce the scarcity of supply to 100 hrs / yr

        1 reply 0 retweets 0 likes
      6. Mayor Of Bitcoin‏ @MayorOfBitcoin Aug 13
        Replying to @MayorOfBitcoin @AustenAllred

        Managing investment dollars, etc, is in effect an hourly rate of return. If one has $100 Mil of investments to manage, and prefers leisure over work, adding a 10% gain using 50 hours = $200,000 / hr. $200k is redic, but like.... $1,000 / hr could be normal for multimillionaires.

        0 replies 0 retweets 0 likes
      7. End of conversation
      1. New conversation
      2. Nick Schrock‏ @schrockn Aug 13
        Replying to @AustenAllred

        What is the source of this quote?

        1 reply 0 retweets 1 like
      3. 1 more reply
      1. Jack Yeh  🚀‏ @jckyeh Aug 14
        Replying to @AustenAllred

        For those asking about the source:https://www.thecut.com/2017/08/ellen-pao-silicon-valley-sexism-reset-excerpt.html …

        0 replies 0 retweets 0 likes
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      1. Neil S W Murray‏Verified account @neilswmurray Aug 13
        Replying to @AustenAllred

        What’s that from?

        0 replies 0 retweets 0 likes
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      1. Matt Mireles‏ @mattmireles Aug 13
        Replying to @AustenAllred

        His thinking is flawed though. You still have to do the work, pay attention to the details.

        0 replies 0 retweets 0 likes
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      1. Paraic‏ @iamparaic Aug 13
        Replying to @AustenAllred

        But just think... one hours work = Telsa Roadster

        0 replies 0 retweets 0 likes
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      1. Jesse Donoe‏ @jessedonoe Aug 13
        Replying to @AustenAllred

        Goals

        0 replies 0 retweets 0 likes
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