DAC: denial computing

I went to the keynote today by nVidia’s (and Stanford’s) William Daily. The topic was the end of what he called denial architecture and the rise of throughput computing. Denial architecture was so called since it denied two things: that the world was sequential and that memory was flat. Throughput computing turned out to mean, surprise, surprise, the type of engines produced by nVidia.

As everyone knows the performance of a single processor is increasing only slowly due to power considerations. Instead we have to take our increased computing power in the form of additional processors. Architectures like this, such as nVidia’s chips, should continue to increase at about 70% per year for the foreseeable future. That is what I like to call “core’s law.” The number of cores on a chip is increasing exponentially. It’s just not all that obvious yet since we are still on the flat parts of the exponential curve.

Daily had some interesting analysis of the energy required to do a computation (such as a floating point multiply) versus the energy required to move the data a short distance, across the chip or off-chip. The bottom line is that computation is very cheap in both area and energy provided the data required is local, already close to the computational unit. When a lot of data is used in any sort of pipelined computation, where the output from one stage is immediately consumed by the next, then cached memory is a particularly bad architecture, something I’d never realized before. Writing the data out causes the cache-line to be fetched, then the data is read once. Finally, the value, which will never be used again, is written back to the main memory.

To take advantage of all this compute power, the programmer has to worry about managing the concurrency and worry about which memories are used to store which data. Programmers like to deal in abstractions which is why sequential programming and flat memory work so well. There are only 3 numbers in computer science, 0, 1 and infinity. Numbers like 50 processors each with 2K of memory are not something that the programmer wants to have to worry about.

But it seems there is no choice. The CUDA programming architecture gives a framework for writing these kinds of programs and certainly some of the results on computationally expensive algorithms are impressive. Done right, it is a one time cost to get back onto the performance curve as process generations unfold into the future. But it seems more like assembly language programming in some ways, since so much of the details of the hardware have to be taken into account. Chips like nVidia’s (and IBM’s cell architecture used in the Playstation) are notoriously hard to deal with because of this mismatch between computational resource and the programmer’s mental model of what has to be done.

This stuff is now being taught in universities so it will be interesting to see if a new generation of programmers who think this way find it any easier. It still seems really hard to take a lot of small computers and put them together so that they behave as one really huge one. But the payoff when it can be done is enormous. However, getting the software right continues to be the biggest problem in software.

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DAC: VC panel

I went to Lucio Lanza’s panel session on how much it matters that VC investment for fabless semiconductor companies and EDA companies has dried up. The rest of the panel was Sanjay Shrivastava from Denali, Gunjeet Baweja from Needham and Shishpal Rawat from Intel Capital.

And VC money has dried up. It now costs $50-100M to design a brand-new chip and get it to market and then, if you are  lucky, you have a fabless semiconductor company that might get bought for $50-100M. The numbers just don’t work. It’s a similar story, but with lower numbers, for EDA companies. There hasn’t been a new EDA company funded by VCs for 3 or 4 years (just a few follow-on investments).

That huge $50-100M design cost is both terrible (nobody is funding chips) and an opportunity (it’s worth a lot to reduce it). It reminds me of the two shoe companies that sent their top shoe salesmen to Africa when shoemaking was first automated 100 years ago. The first writes back: “no opportunity here, they don’t wear shoes.” The other writes back: “enormous opportunity, they haven’t started wearing shoes yet.” Clearly one enormous  opportunity in EDA is to reduce that $50-100M cost to $5-10M. To remove the $2M/month for a year cost of verification for a chip. To halve the design cycle.

There’s also the aspect that nobody knows what will happen to cause an upturn in the semiconductor customer base, the health of which is pretty much a prerequisite to a healthy EDA industry. As Lucio said, “Discontinuities are not forecast, they are only taken advantage of.” Nobody forecast the cell-phone market, Cisco, the PC, DVRs, video-games etc. But lots of money was made bringing entire ecosystems into existence to deliver them. Who knows what will be the next cell-phone?

The panel all seemed to think it was a good time to start a company. Clearly just as much innovation happens in a downturn, so in that sense it is true. Working in small innovative companies is always fun, but I think that there has also to be the chance of financial reward to make it attractive versus working for a big more secure company at a higher salary. Shishpal thought you should do it simply for love of innovation and technology, but the rest of the panel (and I suspect most of the audience) thought that this was unrealistic.

Or else, instead of the chance of making a significant capital gain we should all go and work in the public sector and have great retirement benefits anyway, paid for out of everyone else’s capital gains.

The bottom line is that the only way to really make an EDA company work today is to bootstrap it. Denali is proof that it is possible to build a full-scale company this way. More likely is to keep the company so small that even a $15M exit is attractive. But I question whether a company built this way is going to make an enormous dent in the cost of design. It is possible to develop a little piece of incremental technology this way that fits in the normal flow. I’m not sure it is possible for a handful of people to create technology that completely disrupts the way design is currently done.

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DAC, day 1

I went to the CEO panel today. But it wasn’t very illuminating since everyone was being too nice. When someone asked the question about what advice there was for the roughly 250 EDA startup CEOs in the audience, Wally said “Make sure you don’t run out of cash.” That was the nearest anyone would come to “most of you are screwed.” Lip Bu pointed out that the investment needed for a fabless semiconductor company has got too high for VCs to be able to see a return. For both EDA and fabless semi, the only possible hope is to keep burn rate so low that the money in is tiny by the time the company starts to generate cash. That’s a clever trick, however, in 45nm process where the cost of the masks alone could consume all the money.

All 3 CEOs said that they were meeting with CEOs of customer companies in a way that they didn’t used to. It was always a major criticism of EDA that they didn’t have boardroom access. SAP and Oracle were hobnobbing with the CEO, Cadence and Synopsys were talking to the CAD manager. But now customers are apparently much more open to wide-ranging discussions on what EDA can do for their customers beyond cutting their prices. If this is true, it is potentially a genuine opportunity, analogous to when IT in the late 1990s became regarded as a strategic weapon not just an expense line to be managed down. Companies like Walmart, never mind companies like Ebay and Amazon, use IT to outcompete their rivals. Semiconductor companies, increasingly fab lite or fabless, need to outcompete their rivals on design.

The most mysterious piece of the puzzle is software. Where does embedded software fit into EDA? Gary Smith pointed out that EDA would double if it could raise the software investment per embedded software engineer by just $15K. He reckons this is the key year, but outside of virtual platform technology it’s not clear what EDA has on the shelf or in development to achieve that type of uplift. But as more and more of a system is in software, and as semiconductor companies continue to have more software engineers than designers, it is clearly the critical piece of the puzzle to understand.

One bit of news today was that Magma’s auditors raised doubt about whether Magma was a going concern. Basically, Magma needs to succeed in re-negotiating its debt or else it may be insolvent. I guess people are basically optimistic they’ll do this since the stock closed up slightly.

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DAC: no blog for you

No blog today. It’s free Monday at DAC so I don’t think many people will be online. See you around at Moscone if you are here.

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Friday puzzle: house number

Last week’s puzzle was to try and find the train in the Nullarbor Plain, given that we know the direction of a train whistle we just heard. A couple of idealizations to make this truly mathematical: the train is a point; the track is a straight line; you notice if you are standing on the track but otherwise you can’t see it. First, realize that there is no way to guarantee you’ll find the train. After all, even if you are standing on the track when you hear the whistle, the chances are only 50-50 of being picked up (the train may be going away from you).

What about going toward the whistle? That turns out to be a worst-case strategy since that is one place you can guarantee the train is never going to be again (unless the train is stationary or you are already on the track).

What about going directly away from the whistle? Again that is another worst-case strategy, guaranteed never to find the train (unless you are already on the track).

The best strategy, although it seems counter-intuitive at first, is to set off at 90 degrees from the direction of the whistle (either way is fine, it’s symmetric). If you find the track then wait. Maybe you chose the wrong direction and you never find the track, maybe the train’s already passed, maybe it was already going away from you when you heard it. But maybe you find the track and you get there before the train and it comes along and picks you up. This strategy maximizes that chance.

Today’s puzzle is another one that seems to have too little information until you think it through:

Both Lisa and I live on a street with house-numbers from 1 to 100. Lisa wanted to know at which number I live.

She asked me: "Is your number larger than 50?"

That seemed to make it a bit too easy so I lied.

Lisa next asked: "Is your number a multiple of 4?"

I was still in a bad mood so I lied again.

Then Lisa asked: "Is your number a square?"

I was feeling a bit guilty about all the lying so this time I told the truth.

Upon this, Lisa said: "I know your number if you tell me whether the first digit is a 3."

Well, I forget whether I lied or not this time. Lisa then told me where I lived. Of course she was completely wrong.

What house number do I actually live at?

Answer next week

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Don’t panic, but DAC is next week

First thing. If you’ve not already done it, then go to the Denali website and vote for EDAgraffiti as the best blog. Especially if you come here regularly. Voting closes on Monday evening.

So DAC starts on Monday. Actually, for people in EDA it really starts on Sunday night at the EDAC/Gary Smith ultimate networking event with free beer, or whatever it is officially called. If you plan to go, then register so they know how much beer to order. Gary’s annual list of what to see at DAC is already available (click on the lefthandmost industry note). John Cooley’s "cheesy must-see list" is also now available. Print both of these out, grab the map of the show floor and you can plan your route.

EDAgraffiti is going videoblogging. I’m interviewing people with Point Marketing (demos on demand) on their view on SoC design and anything else that doesn’t come too close to a product pitch. If you are interested in being interviewed (caveat: it’s not free) then send an email to Michael Mertz. EDN’s editorial policy doesn’t allow them to be shown here so they’ll go up on the EEtimes website as well as, of course, demosondemand.com.

Joe Costello isn’t giving a keynote this year, unfortunately. But if you want to see him you’ll find him here (somewhat oddly dressed, I have to admit). Wait, isn’t that him on the right above?

One admittedly experimental event is Attrenta’s Mike Gianfagna’s blogfest at 2pm on Monday. This year bloggers have gone from being non-entities to a true voice in the domain. And meanwhile, journalists have gone from being journalists to, well, bloggers. This is the first real event where an EDA company bring bloggers truly into the fold. It will be interesting to talk about something rather than whether blogging is a legitimate complement to journalism.

When I was at Cadence, the best organized and highest quality event I used to attend was the evening at DAC when we would entertain the key journalists, analysts and financial analysts. I still remember whizzing through the streets of New Orleans with a full police escort letting us through red lights and getting us from the art museum to Chez Paul’s in about 10 minutes. Then Paul Prudhomme himself came out and gave us a cooking demonstration. In those days I was part of the hosting party (I played the role at Cadence of the technical guru for investment analysts for a couple of years, since I knew pretty much the whole product line and was house-trained on the finance side). This year I get to go to some of those as the press, which feels odd to me. I’m not quite used to my new role as a "channel".

So for any of you who are new to trade-shows, let me give you some key phrases I was taught many years ago. When a visitor to your booth is someone who isn’t going influence a purchase decision, don’t piss them off. Today’s student are tomorrow’s vice-presidents. Shake their hand and say “Nice to meet you. Thank you for coming by.” It’s not rude but it’s final. Next, at the risk of losing a major blogging scoop, I advise you that when a journalist or blogger asks you about future product plans, you say robotically, “We have nothing to announce at this time.” Your VP of marketing will thank you. I’ve been in marketing a long time, and that last phrase has got me out of trouble often. It’s not rude (like “no comment”) and it doesn’t reveal stuff you know but you are not meant to reveal.

I live walking distance from Moscone so it’s nice to be able to stroll there rather than get on a plane. I don’t know how blogging will go next week. I may run out of time to blog at all (but you are probably out of time to read). I’ll try and comment on anything really interesting I run across.

Oh, and dress smartly. Peggy Aycinena is on the prowl (not personally) for the hottest guys at DAC. I’m not sure if the male equivalent of booth babes (booth hunks?) are eligible.

If you want coffee while you are at DAC, and who doesn’t, you can obviously have coffee in Moscone. Next up in quality there are Starbucks on both 3rd and 4th street right nearby. But if you want some of the best coffee in the city, go over to Mint Plaza (on Mint Street which is between 5th street and 6th street). The Blue Bottle Cafe will make you a coffee that’s the best you’ve ever had. It’s worth the extra 5 minutes walk.

Have a great DAC. And I’ll see you at the Denali party where I’m going to win the Next Top Blogger because you did vote for me already, didn’t you.

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The anti-portfolio

You have to be pretty brave to be a venture capitalist and keep an “anti-portfolio” page on your website. This lists the deals that you were offered but turned down. Bessemer Ventures is the only VC I know that does this. They’ve had some great exits over the years (such as Skype, Hotjobs, Parametric Technology or going back, Ungermann-Bass). But they also turned down FedEx (7 times), Intel and Paypal. And here’s their description of another one that got away:

Cowan’s college friend rented her garage to Sergey and Larry for their first year. In 1999 and 2000 she tried to introduce Cowan to “these two really smart Stanford students writing a search engine”. Students? A new search engine? In the most important moment ever for Bessemer’s anti-portfolio, Cowan asked her, “How can I get out of this house without going anywhere near your garage?”

Most of us who’ve been in Silicon Valley for a long time also have our own sort of anti-portfolio: the companies that we could have worked for and didn’t. I’ve never interviewed and then turned down a job that turned out to be a really huge mistake, but I have been invited to come and interview and refused.

When SDA (the fore-runner of Cadence) was founded, a friend of mine, Graham Wood, actually someone I shared an office with doing my PhD at Edinburgh, relocated to California from Bell Labs to join them. He was about employee number 20 and went on to be the creator of SKILL, still significant today in the battle over Cadence’s Virtuoso franchise. He asked me to come and interview. But at the time I was happy at VLSI Technology and thought we were going to change the world. In a way, of course, we did. But I wasn’t smart enough to see that the real money in ASIC was not in building the chips but in building the software to build the chips. Plus, if you are going to write EDA software, you are may as well do it at an EDA company where you are regarded as valuable, rather than at a semiconductor company where you are regarded as a weird item on the expense line.

Wes Patterson ran VLSI’s design centers and he left to be CEO of Xilinx. Somebody, not Wes himself, invited me over to interview but I was too blind to see that they would become a big success. “RAM-programmable gate-arrays? Who’d use one of those? How big a market is that?” Again I failed to realize that the cost structure might not have been great at first, but it was only going to get better. If you only want a handful of parts then FPGAs are the only sensible solution. For high volume, ASIC is the way to go. But over time, the cutover point creeps up and up and FPGAs serve more and more of the market.

Many years later I was headhunted by Xilinx to come and interview to run their entire software business and make it profitable. I wasn’t sure how feasible this was. Based on my experience at VLSI you can’t run a real software P&L inside a semiconductor company since you are an enabler for silicon and, if a customer is important, the company will just give everything for free, but not compensate your P&L with some of the silicon profits you enable. I interviewed with Wim Reolandts, the CEO who’d recently joined from HP. They asked me to come back in but that same week I was asked to become CEO of Compass. Who knows which would have been the better opportunity? Being a CEO is really hard unless you have the one qualification that everyone wants: you’ve been a CEO before. So it is always a good idea to take it when fate offers you that opportunity.

After Ambit was acquired by Cadence, Al Stein, VLSI’s CEO, tried to interest me in running a venture capital portfolio for VLSI. It was all the rage then for companies to take some of their cash and try and use their specialized inside knowledge to pick some winners for investment. I went and talked to the guy who ran the equivalent fund for Adobe, who’d started the trend. He’d invested in Netscape and other early internet successes and been wildly successful. But in the end I stayed at Cadence since I wasn’t convinced I’d be that good a venture capitalist. In retrospect I should probably have taken the job. I’m sure it would have been really interesting irrespective of how successful I turned out to be, and jobs are really interesting when you are learning a lot. In fact, if I’d taken it, it would have been fairly short lived since soon after Philips Semiconductors (now NXP) bought VLSI.

One job I did interview for and eventually turn down wisely, was to help run the software arm of European Silicon Structures. This was a company set up in Europe (duh!) to use e-beam technology to do very small runs of wafers cost-effectively. I turned the job down when the CEO couldn’t convince me of a good reason to have a large well-funded software division since clearly the company stood or fell based on how good the e-beam technology turned out to be. By then I’d got smart enough to know that you don’t want to be in an “expense” department in a semiconductor company. It turned out the e-beam technology didn’t work that well and the company failed. I think Cadence picked over the bones of the software division.

I was never offered a single digit badge number job at Google or anything like that. But it is always hard to tell which jobs are going to be with companies that turn out to be wildly successful. I asked a friend of mine who worked for me briefly as my finance guy before going on to be the CFO of Ebay and lead the most successful IPO of all time what was the most important criterion for success: “Luck.”

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Who are the EDA press?

DAC is coming up and all those marketing engines are revving up to a fever pitch waiting for the green light. But who should they pitch to? Customers, obviously, you eventually have to win the ground war. But what about the air war. There isn’t really a press following EDA any more, but there are lots of us bloggers and some newsletters, and without really planning it we’ve become one of the channels that potentially marketing can use to reach their customers.

But it’s a new game and nobody knows how to play yet. I’ve been approached by several PR agencies and marketing folk about product announcements, interviews and so on. Individual product announcements are not interesting to me, and I’m assuming you readers wouldn’t want to wade through them all anyway. There are other places for that. But product announcements in aggregate are interesting: What are the new trends? Which new areas are hot? Which new startups are interesting in those areas? What hard problems are getting cracked?

It is a major challenge for a smaller company to get its message out in this brave new world. Big companies like Cadence and Synopsys have their own internal tradeshows and regularly meet customer executives to brief them. Somebody commented on one of my blog entries about a TSMC engineer saying “I don’t go to DAC any more; if I want to talk to an EDA company I make them come to us.” That’s fine as long as you know about the company, but if you take that attitude you’ll never find out early about hot new technology that might turn out to be important.

Remember Bill Joy’s law: no matter where you are, the smartest people are somewhere else. You just don’t know what is going to turn out to be important, so you need to look at it all. But it is increasingly difficult to immerse yourself in the stream of raw information that might allow you to spot something. In it’s heyday, when both Richard Goering and Mike Santarini and more were there, not much happened in EDA that you’d miss if you read EEtimes each week. Now, not so much.

That’s one reason that, for the time being, I think DAC remains strong. It’s the only place for that kind of serendipity. Everyone has a story of some major customer finding them by chance at DAC. Not the big companies of course (“Synopsys. I didn’t know you had any synthesis products!") but startups. When I was at VaST we acquired Intel as a customer (or “a large Santa Clara based microprocessor company” since I don’t think Intel likes anyone claiming them as a customer) when a couple of engineers happened to pass by the booth.

This is the first DAC I’ve been to where I’m officially classified as "press." I get in for free as press, I get invited to various press/analyst events (but not all of them), I get invited to various other events since I’m on the press list. "I have seen the future and it is us." In some ways it feels like EDA has been abandoned by the traditional press so we’d better just do it ourselves, and with our deeper knowledge do it better. I don’t know if I succeed  but that’s certainly part of what I try and do on this blog.

It’s not clear what the channels to reach customers are going to morph into. To tell the truth, since it is so unmeasurable, it was always unclear even how much EDA customers were reading the right articles in EEtimes versus us EDA insiders keeping an eye on the competition. I’m not the only person musing on this subject, of course. There’s a panel session at DAC about blogging (I wasn’t invited though). Here is a discussion between Ed Lee and Sean Murphy about it. Peggy Aycinena was already on the case a couple of years ago.

Of course what is happening in the EDA trade press is mirroring what is going on in the wider world of journalism in general. Even the New York Times is struggling financially and probably will not make it in its present form. The San Francisco Chronicle’s days are almost certainly limited. Time and Newsweek are hemorrhaging subscribers. Nobody knows what anyone will pay for (except the Economist, which seems to have some unique hard to reproduce formula). If it is hard to get your message out in EDA, it is also getting harder to get it out if you are Toyota or Colgate too. Nobody watches the same channels, they all have DVRs and skip ads, they don’t read so many paper magazines. When everyone is watching YouTube and updating their Facebook wall, they are not learning about the existence of new products, even of ones they’d love to discover.

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Taking the E out of EDA

As I said recently, I think Sony laid down the perfect long-range plan for the EDA industry. Here’s the money quote from Kondo-san again: "We don’t want our engineers writing Verilog, we want them inventing concepts and transferring them into silicon and software using automated processes."

First, note that this is not just about designing integrated circuits. It’s about the big strategic issue of how you design products. Those of us in EDA think that it is a fascinating industry with a strange combination of deep technology and a sufficiently large market to be an interesting business. As opposed to, say, TCAD, the software used to design semiconductor processes and develop process models without building silicon. I mean I’m sure it’s interesting and there’s a market but it’s not EDA. It is a market of 5 PhDs in each fab in the world or about $20M/year.  Certainly necessary but not at the top of anyone’s list of problems on any given day.

Unfortunately, how we view TCAD is how the rest of the world views EDA: an esoteric geeky thing that some people need to get their job done but it’s not solving the real business problem. Rocket science for rocket scientists.

There were always rumors that Cadence or Synopsys would buy Wind River, the leader in embedded operating systems and tools for embedded software development. I’m pretty sure discussions took place but obviously no deal was ever done and Intel bought them recently (as an interesting aside, that means that the PowerPC guys, primarily Freescale, are largely dependent on Intel for their RTOS and tools). So Wind River is on the verge of becoming Intel’s captive embedded software capability. However, EDA companies thinking about acquiring Wind River was at least thinking in the right kind of way. How does the E get dropped from EDA? How does it just become Design Automation, encompassing everything from software to silicon, boards, packages, supply-chain management. In short, how does EDA achieve the Sony vision of inventing products and then implementing them using automated processes.

How many people in EDA know what a BOM is? It is a bill of materials, a list including the price, of every component in a product. In most consumer industries, design is getting the BOM right because otherwise the product cannot be built for a price that the market will support. Design costs figure into the equation to some extent, but in the end for a volume product the final price of all the components is what matters. DA without the E is at least somewhat about BOM optimization.

RIM, the Canadian company that sells Blackberry, didn’t actually design it. I don’t know the details but I assume they came up with the basic concept and presumably wrote a lot of the higher-level software, both on the phone and on the server systems that implement the push mail. But then they used an “automated process” to get the guts designed. They subcontracted it to TTPcom in Cambridge England who put a lot of experts in software and phone design on the job. They wrote all the Verilog, and the call processing stack and designed the radio. RIM stayed focused on the user experience and how to deliver that in software applications.

But that’s not the true “automated process” Sony wants to have access to.

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The career-path train doesn’t stop every day

When I lived in France there was a program called “La piste de Xapatan” in which contestants had to negotiate a series of challenges before whizzing down a zipline and running up a hill to catch a train. But “le train de Xapatan part toujours à l’heure” (the train from Xapatan always leaves on time) which meant that usually the contestant would arrive just after the train started to move and either just catch it or just miss it by seconds.

The career path train, however, isn’t like that. It doesn’t stop at the station every day and when it does stop you have to decide whether or not to get on. When you want a change of job for some reason, there doesn’t seem to be a train. And when you aren’t really looking for anything the train shows up and you have the opportunity to board while it is in the station. But it won’t be in the station again tomorrow; you have to decide right now.

It’s especially hard to decide if the opportunity takes you out of the comfort zone of what you have been used to in your career so far, or if it involves relocating. Two times the career path train stopped for me were “would you like to go to France and open up an R&D center for us?” and “would you like to return to California and run all of R&D?” There’s always some sort of tradeoff in a promotion, not just more money for doing what you are already doing.

Big companies usually have dual career ladders for engineers, with a management track and a technical track. However, it’s a bit of an illusion since only the strongest technical contributors really have a sensible option of staying completely technical and continuing to advance. I think dual career ladders are mostly important because they institutionalize the idea that a senior technical person might be paid more than their manager, sometimes a lot more. In more hierarchical eras that didn’t happen.

But the fact that only the strongest engineers can keep advancing as engineers means that at some point most of them will have to transition into management or into some other role that makes use of their engineering background along with other skills to do something that is more highly leveraged than simply doing individual contributor engineering. It’s a big step that will require you to learn stuff you’ve not had to do before.

But people are often not keen to take that critical step out of their comfort zone. I’ve sometimes been surprised at how reluctant people are to step up and take on new challenges when I’ve offered them what is essentially a significant promotion. Funnily, one of the biggest issues is always the salary review process. Everybody wants to avoid the work and responsibility of reviewing people that work for them, and sometimes this hate is so visceral that people refuse to have anyone report to them. I’ll be the first to admit that reviewing people’s performance is not the most enjoyable part of management, but it is just a few days per year for the formal part. Actually the trick is to make sure that nothing in a review is a surprise because you’ve already been communicating feedback both good and bad throughout the year. It is bad management on your part of you surprise someone with a really bad review when they didn’t think anything was wrong.

I’m sure that there are anecdotes to the contrary, but in general I think most people are best to take opportunities when they are offered. This is especially true in startups and small companies. They tend to grow downwards, in the sense that people there early get to bring in the lower levels. There are more opportunities for responsibility early (a plus) but less formal training (a negative) unlike large companies that often have in-house management training.

So when the career path train stops, you’d better have a very good reason not to get on.

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