This article in the Boston Globe details a new trend in the technology startup world: acqui-hiring. Instead of a failing startup becoming a total loss, now successful technology companies are buying out companies, and hiring their most talented employees. The Globe cites the example of "Sold," a Boston startup that developed an app to help people sell their old electronic goods online. Before it tanked, Sold was acqui-hired by Dropbox, and the employees moved out to San Francisco.
The trend of acqui-hiring is a double-edged sword for Boston entrepreneurs. On the one hand, it provides struggling developers and creative minds with much-needed jobs. On the other hand, in most cases larger companies in California are moving Boston talent out West.
What do you guys think?
This has actually been going on for several years (though perhaps that still makes it "new"). Or maybe the Globe just discovered it. At any rate, Google, Apple and Facebook are among those who are known to have bought start-ups--failing or otherwise--more for the engineering talent than for the product itself. (Good) people have value.
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