We already had our massive discussion of the Great Burn Rate Spurge of 2014 and the great $1 Million Signing Bonus Give Away, but now we need to engage with the next possible sign of the apocalypse: MBA students. Or more specifically, whether these spreadsheet-wielding graduates are turning up in the Mission these days or heading back to marble-covered offices in places far to the east.
Representing perhaps the most glaring trailing indicator of San Francisco bubble excess, the percentage of graduating MBA students who decide to give up a career in finance to join entrepreneurial ventures represents perhaps the most conservative risk-adjusted judgment of the potential for startups to make the world a better place (or at least, to make petabytes of cash).
MBAs flocked to San Francisco in increasing numbers in 2013, driven by a mix of idealism (not really) and the sense that startups were about to conquer the world. As Kevin Roose wrote earlier this year, “Now, many of the hottest startups in the Bay Area bear the distinct mark of Wall Street’s profiteering impulse,” and that familiarity encouraged a Wall Street exodus to the West unlike anything seen since, well, the last bubble.
Well, there is good news my friends: the MBAs aren’t arriving anymore, and that means cheaper tee times for all of us.
More @ TechCrunch
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