godspeed 🙏 edit: build a platform for junior devs to hack on simulations/scenarios that mimic real world IT problems. Gamify with points/achievements/levels. By beating the “game” the player/junior should have a strong foundation of skills to be actually employable.
Section 174 impact has always been exaggerated. For large businesses, the effect on accounting is so minimal that certain companies saw no difference. They can't deduct all software developer expenses in 1 year, but over 5 years, and this means that by year 5 they will see the same effect. In addition TCJA decreased corporate tax rate from 35% to 21%. Yes, you can't deduct R and D immediately, but you are also getting a 14% tax cut. MANY businesses came out ahead. I will agree that this hurts brand new startups and small businesses who don't get the full deduction until the 5 year mark. That hurts cash flow. But all US politics in the last decade has been pro big business, at the expense of small business. Huge subsidies go to big businesses where small businesses can't qualify. Because obviously small businesses don't have a massive lobbying budget.
Unfortunately you're misinformed because while if you have the money to deal with the five year term it may not be as much of an issue the fact is cash strapped startups often don't have the cash.
@@honestduane I would argue it’s easier as a bootstrapped startup (where you have cash flow) rather than a venture-backed where you’re burning cash and have little to no revenue.
@@jamess.2491 Again, you are misinformed and assume PMF is found when really most startups iterate and burn cash trying to find PMF and thats why the S174 changes are killing tech.
Great video bro! If you need someone else to work on something with let me know! Recently got laid off from the startup I was working at so come into a lot of free time unfortunately lol
@@ChrisAthanas It's rather difficult to "keep building" something when you're on the n-th week trying to survive without ANY paid work. It's a broken system and industry at this point and it's far more useful to tell people to cut their losses and pick up a skilled trade. At least they won't go hungry or lose their home that way.
Just have respect for you. A quick suggestion, similar to others: AI-based education/training platform for junior devs. Of course, can branch out / specialise as well.
So just double down on a ponzi-scheme? I don't think it's in his conscious to do something like that. Selling people a false hope for a fictional reality is setting them up for failure. The best course of action in that case would be charging people $1 to simply tell them, in the best manner possible, seek employment from one of the top 3 in-demand skill sets in your nation. Preferably that you can begin paid work with immediately. Many of us who learned the technical skill sets required for this industry have been left feeling completely scammed or "rug pulled". There are many that have a variety of skills to fill almost every niche on the market, yet there is no demand for their skills, effectively meaning they are worthless (according to the market). Imagine spending 1/3 of your life dedicated to mastering something only to find you cannot survive off of this arcane knowledge. It isn't worthless in the philosophical sense, but in our current economic state it does seem like it holds near-zero market value compared to a skilled trade or similar.
Seems like the tech industry needs more independent creativity. If senior devs are so skilled they should be able to whip up cool things the newbies cant
You can't be "creative" when you've gone 3 days without food and the incoming bills are impossible to be paid since you're unemployed. That's where we're at as a whole right now in this industry.
It's an illegal excuse that employers use It's because of the ZIRP environment and businesses thinking youth was the key but in actuality they don't want to pay the market rate for experience
The "too old" excuse is given out as a defensive tactic when the hiring manager or team lead or whoever feels threatened; whether that be their authority or even their position itself. Duane has already mentioned this though.
Why can't they change it right now? Kamala is currently in office isn't she? What makes you think they are gonna follow through if they get re-elected.
The GOP is on record as trying to block its fix. The waiting until after the election allows states to flip so the house/senate has more support to fix it by removing GOP lawmakers who are currently actively blocking its fix.
Companies can still write off software development costs, it's just capitalized and amortized over a 5 year period, which is standard in business for non operational expenses. Software development and R&D is not an operational expense. It's an investment into a future product or technology.
Show me that you don't know anything about the startup ecosystem or s174 with a RUclips comment. Oh wait, you just did. Every other company type considers payroll expenses a fully deductible expense. It makes absolutely no sense to not allow payroll to be a deductible expense. This is a tax on free speech (code is free speech) and it's a tax on innovation.
@@honestduane You are incorrect and you don't understand enough about business finance or accounting. If you'd like, study principles of accounting and how business treat certain types of employees working on certain projects. Also, it's dangerous to assume you know everything. It leaves your mind closed to further learning, making you untrainable.
@@v0idborne You are absolutely right, it is terrible to assume that you know everything... yet that is exactly the trap that you have fallen into. Meanwhile, I am talking to accountants and lawyers and asking them questions, Because I don't know everything, and I'm telling you what they are saying. The misplaced idea that depreciating payroll expenses for software engineers on a five year schedule instead of the same year as its always been the standard shows that that a person knows nothing about technology or how it's historically been funded. You don't know enough about business or technology to tell me that I'm wrong here; Meanwhile, I'm talking to people with Harvard business degrees that are agreeing with me.
@@tragicstory9244 When the same people that invaded Iraq support Biden/Harris which killed millions of POC, I'm going the other way. And I'm not in tech, don't want to be especially the older you get. Get into a stable industry like insurance, finance, health. Don't expect insane salaries but at least you don't have to worry about your age as much.
@@onedot6674 Glad you’re not affected by this tech market! Hope you continue to thrive in whatever your pursuits are. In terms of politics, since you bring up war, anyone who has actively attacked America will never get my support-January 6th is a red line moment. Folks supported the confederates as well, but you don’t get forgiveness from me once you cross that line. And, to welcome/follow/support those who did cross that line, means you lose my support too. Hence, the current GOP won’t ever get my vote. Getting back to Section 174, the topic of this video; it is correctly being identified as a major reason why doing a tech startup has become much more difficult. It was designed to do that, so mission accomplished in the pain it’s caused. Startups need more money to work around it, which is also harder with high interest rates. Hard times don’t last forever. For those who are affected by this market, hopefully the rate cuts provide a light at the end of the tunnel.
@@Myles222 all it takes for evil to succeed is for good people to do nothing. That’s politics though. On the tech front, Duane’s advice and mission for a new business is really good, hoping it helps others too.
Tax rates in of themselves mean little. Just like price in of itself means little. Value for what you’re paying is the metric that matters. You get a lot more value with policies focused on the people.
I stumbled on your channel a month ago from the yt algorithm and seeing the vids you've been posting makes me concerned about your mental health. Like a slow descent to madness. My advice to make some money? Make a game. Low investment costs and potentially good returns. Target a niche like VR or something and make a simulator or something idk but start from there.
There is a game I bought called "Joy of Programming" which is basically an educational programming simulator made by a CS professor. I'm assuming it's a side hustle for him but someone working fulltime can get a working prototype going in a couple weeks/months.
Do NOT EVER consider making a game until you're in a position of financial surplus in life. Meaning, you don't have incoming bills you can't afford to pay without working for the next half-year. The most sane advice is to first of all get a job (yes ANY job) or perform paid duties for people with your own small business just so you can actually survive in the first place. We are in an economic recession and the majority of people who are still employed are looking from outside in with extreme survivorship bias.
No, I want Harris for POTUS because Trump had the opportunity to gain my trust the last time he was POTUS, and he not only failed, he actively messed up the entire tech industry (and harming national security) out of petty revenge by passing S174.
Thanks for the knowledge OG🫡 I didn’t know you had courses gonna have to check you out I love learning lower level stuff You don’t have to be anxious because we can tell you have a lot of knowledge so a real man will always respect it🫡
Thank you for making these videos. Many people face social anxiety. The more you force yourself to do hard things the easier it gets
Highly respect the step , as someone who is a jr dev i'll try to do whatever me and other juniors can to help.
Junior devs are in pure tech horror
Literally found your channel today, absolutely fell in love with everything you're about. Count me in
godspeed 🙏 edit: build a platform for junior devs to hack on simulations/scenarios that mimic real world IT problems. Gamify with points/achievements/levels. By beating the “game” the player/junior should have a strong foundation of skills to be actually employable.
Section 174 impact has always been exaggerated. For large businesses, the effect on accounting is so minimal that certain companies saw no difference. They can't deduct all software developer expenses in 1 year, but over 5 years, and this means that by year 5 they will see the same effect. In addition TCJA decreased corporate tax rate from 35% to 21%. Yes, you can't deduct R and D immediately, but you are also getting a 14% tax cut. MANY businesses came out ahead.
I will agree that this hurts brand new startups and small businesses who don't get the full deduction until the 5 year mark. That hurts cash flow. But all US politics in the last decade has been pro big business, at the expense of small business. Huge subsidies go to big businesses where small businesses can't qualify. Because obviously small businesses don't have a massive lobbying budget.
As a startup founder, 174 has made getting a venture-backed startup to profitability almost impossible.
Unfortunately you're misinformed because while if you have the money to deal with the five year term it may not be as much of an issue the fact is cash strapped startups often don't have the cash.
@@honestduane I would argue it’s easier as a bootstrapped startup (where you have cash flow) rather than a venture-backed where you’re burning cash and have little to no revenue.
@@jamess.2491 Again, you are misinformed and assume PMF is found when really most startups iterate and burn cash trying to find PMF and thats why the S174 changes are killing tech.
honestduane, Keep making videos!
Great video bro! If you need someone else to work on something with let me know! Recently got laid off from the startup I was working at so come into a lot of free time unfortunately lol
I agree with a lot of your views OG you not lying
I’m real careful on what I’m going to let be publicly seen in my public repo👀
nice videos , thanks for the contenct , I dont like politics but we like how you think
this is an excellent video
Same boat here dwaine, I had an idea for my specific market, worst case, I become expert in that niche of software products.
Keep building, business has a cycle and we are just in a low point for next year or so
@@ChrisAthanas It's rather difficult to "keep building" something when you're on the n-th week trying to survive without ANY paid work. It's a broken system and industry at this point and it's far more useful to tell people to cut their losses and pick up a skilled trade. At least they won't go hungry or lose their home that way.
Awesome video. LFG!
Does this only affect the US market? Seems like almost globally everyone is struggling to find jr dev roles in their countries.
Only because the USA is the leader in Tech, or at least it was.
Just have respect for you. A quick suggestion, similar to others: AI-based education/training platform for junior devs.
Of course, can branch out / specialise as well.
So just double down on a ponzi-scheme? I don't think it's in his conscious to do something like that.
Selling people a false hope for a fictional reality is setting them up for failure. The best course of action in that case would be charging people $1 to simply tell them, in the best manner possible, seek employment from one of the top 3 in-demand skill sets in your nation. Preferably that you can begin paid work with immediately.
Many of us who learned the technical skill sets required for this industry have been left feeling completely scammed or "rug pulled". There are many that have a variety of skills to fill almost every niche on the market, yet there is no demand for their skills, effectively meaning they are worthless (according to the market).
Imagine spending 1/3 of your life dedicated to mastering something only to find you cannot survive off of this arcane knowledge. It isn't worthless in the philosophical sense, but in our current economic state it does seem like it holds near-zero market value compared to a skilled trade or similar.
Seems like the tech industry needs more independent creativity. If senior devs are so skilled they should be able to whip up cool things the newbies cant
The problem is you need economic stability to be able to iterate most successfully.
You can't be "creative" when you've gone 3 days without food and the incoming bills are impossible to be paid since you're unemployed. That's where we're at as a whole right now in this industry.
Based.
I'm surprised you were told you are too old. I thought experience was in your favour?
It's an illegal excuse that employers use
It's because of the ZIRP environment and businesses thinking youth was the key but in actuality they don't want to pay the market rate for experience
The "too old" excuse is given out as a defensive tactic when the hiring manager or team lead or whoever feels threatened; whether that be their authority or even their position itself. Duane has already mentioned this though.
@@valknut9648 Thanks for the reply. I see. When did Duane mention this. Do you have the title of the video?
@@valknut9648 aren't they not allowed to do that?
Answer to the question in the title of the video: Nepotism
I'm making my own PaaS 😛
Why can't they change it right now? Kamala is currently in office isn't she? What makes you think they are gonna follow through if they get re-elected.
The GOP is on record as trying to block its fix. The waiting until after the election allows states to flip so the house/senate has more support to fix it by removing GOP lawmakers who are currently actively blocking its fix.
Companies can still write off software development costs, it's just capitalized and amortized over a 5 year period, which is standard in business for non operational expenses. Software development and R&D is not an operational expense. It's an investment into a future product or technology.
Show me that you don't know anything about the startup ecosystem or s174 with a RUclips comment.
Oh wait, you just did.
Every other company type considers payroll expenses a fully deductible expense.
It makes absolutely no sense to not allow payroll to be a deductible expense.
This is a tax on free speech (code is free speech) and it's a tax on innovation.
@@honestduane You are incorrect and you don't understand enough about business finance or accounting. If you'd like, study principles of accounting and how business treat certain types of employees working on certain projects. Also, it's dangerous to assume you know everything. It leaves your mind closed to further learning, making you untrainable.
@@v0idborne You are absolutely right, it is terrible to assume that you know everything... yet that is exactly the trap that you have fallen into.
Meanwhile, I am talking to accountants and lawyers and asking them questions, Because I don't know everything, and I'm telling you what they are saying.
The misplaced idea that depreciating payroll expenses for software engineers on a five year schedule instead of the same year as its always been the standard shows that that a person knows nothing about technology or how it's historically been funded.
You don't know enough about business or technology to tell me that I'm wrong here; Meanwhile, I'm talking to people with Harvard business degrees that are agreeing with me.
No way I'm voting Harris with the horrible inflation, wars and crap economy. But you do you, still like your videos.
@onedot6674 It’s okay to be wrong, or at least misinformed. But you do you, still wishing you success in tech.
@@tragicstory9244 When the same people that invaded Iraq support Biden/Harris which killed millions of POC, I'm going the other way. And I'm not in tech, don't want to be especially the older you get. Get into a stable industry like insurance, finance, health. Don't expect insane salaries but at least you don't have to worry about your age as much.
@@onedot6674 Glad you’re not affected by this tech market! Hope you continue to thrive in whatever your pursuits are.
In terms of politics, since you bring up war, anyone who has actively attacked America will never get my support-January 6th is a red line moment. Folks supported the confederates as well, but you don’t get forgiveness from me once you cross that line. And, to welcome/follow/support those who did cross that line, means you lose my support too. Hence, the current GOP won’t ever get my vote.
Getting back to Section 174, the topic of this video; it is correctly being identified as a major reason why doing a tech startup has become much more difficult. It was designed to do that, so mission accomplished in the pain it’s caused. Startups need more money to work around it, which is also harder with high interest rates.
Hard times don’t last forever. For those who are affected by this market, hopefully the rate cuts provide a light at the end of the tunnel.
@@tragicstory9244 you're insane dude do you hear yourself lmao
@@Myles222 all it takes for evil to succeed is for good people to do nothing. That’s politics though. On the tech front, Duane’s advice and mission for a new business is really good, hoping it helps others too.
vote for Harris? if she win, you would't allow to get on internet, never mind to find work again
Harris will raise taxes
Tax rates in of themselves mean little. Just like price in of itself means little. Value for what you’re paying is the metric that matters. You get a lot more value with policies focused on the people.
I stumbled on your channel a month ago from the yt algorithm and seeing the vids you've been posting makes me concerned about your mental health. Like a slow descent to madness.
My advice to make some money? Make a game. Low investment costs and potentially good returns. Target a niche like VR or something and make a simulator or something idk but start from there.
There is a game I bought called "Joy of Programming" which is basically an educational programming simulator made by a CS professor. I'm assuming it's a side hustle for him but someone working fulltime can get a working prototype going in a couple weeks/months.
lmao good luck making money with indy game dev
Do NOT EVER consider making a game until you're in a position of financial surplus in life. Meaning, you don't have incoming bills you can't afford to pay without working for the next half-year. The most sane advice is to first of all get a job (yes ANY job) or perform paid duties for people with your own small business just so you can actually survive in the first place. We are in an economic recession and the majority of people who are still employed are looking from outside in with extreme survivorship bias.
Let's go. Create that Udemy for me to buy.
You did not just say Harris to save your own bacon.
No, I want Harris for POTUS because Trump had the opportunity to gain my trust the last time he was POTUS, and he not only failed, he actively messed up the entire tech industry (and harming national security) out of petty revenge by passing S174.
Thanks for the knowledge OG🫡
I didn’t know you had courses gonna have to check you out
I love learning lower level stuff
You don’t have to be anxious because we can tell you have a lot of knowledge so a real man will always respect it🫡