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[quote=Anonymous][quote=Anonymous]Tech is the most lucrative/profitable (per employee) industry.  It's also almost 100% talent driven, especially for social/consumer companies (as opposed to saas/enterprise).  If they lose their best talent, Facebook can become obsolete in 2-3 years and they know it.  Anybody who thinks they will nickle and dime high performers in their eng org who want to relocate is clueless.[/quote]

This is false and old conventional wisdom.

Today’s tech benefits almost entirely from 1) regulatory recapture 2) monopoly power / deregulation 3) lack of enforcement on current barriers to entry. In fact many of the tech companies that do this aren’t lucrative at all - and instead just break everything (see Uber), while others benefited from being in the right place at the right time (see Apple, and Facebook).

Facebook’s product is tantamount to newspapers adds / classifieds pages. The best talent has nothing to do with it. The ROI for a Facebook campaign is terrible, but because Facebook broke the digital media advertising business, ad reps have literally no where else to place their clients marketing budgets. And like Microsoft, Facebook doesn’t need developer talent, they need lawyer and lobbyists - and not the best, but the most corrupt will do just fine. The UX could stay static for a decade.[/quote]

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