> Geographical Constraints: Unlike lucrative software jobs, hardware engineering demands physical presence.
Not completely true. Our engineers take hardware home, and I have a mini-lab at home for developing hardware. If COVID2.0 kicked off tomorrow, we would be robust against this.
> Venture Capital: European VCs, mostly bullish on fintech and SaaS, remain wary of hardware. Result? A feedback loop of underinvestment and missed opportunities.
Extremely true. I cannot overstate how wary of hardware investors are. As with software, you have two types of hardware: research-based and engineering-based. Engineering-based hardware is actually quite low risk if the risks are well understood.
> Innovation Stagnation: We're not just losing salary differences; we're missing out on the next ARM or Tesla.
100%. Even when the UK accidentally creates the likes of ARM, it always fails to stop it being purchased by other Countries.
> False. London is around the same as NYC and more expensive than most parts of California and definitely Texas. This also ignores:
I'll put some numbers to it. If you want a house share (one bedroom, shared common rooms and utilities), at a £1600 budget you will struggle to find somewhere. On a £25k salary, losing £5k to pension, etc, your ENTIRE salary goes on accommodation. If you are one of those pesky eating humans who sometimes requires clothes, travels to work, etc, it's literally impossible.
> "UK's small market limits growth."
In any situation you have to realise the opportunity. As the article points out, the hardware engineers are 25%-50% of their US counterparts at the same quality.
> Your next unicorn isn't code. It's cobalt and circuits. Back the tangible.
It's actually a mixture of the two. Software and hardware working in tangent. The barrier to entry with software is very low, it's difficult to compete there. The barrier to entry to hardware is higher due to time and costs, you can work there and have less concern about competitors.
The profit margins are also far higher, as there is a tangible thing, there is a greater perception of value. You buy <Software> and it takes a year to develop. You spend another year writing <Update>, people expect to get it for free, despite the same resources being applied. When you buy <Hardware>, the next iteration which is a year of <Update> can be sold at full price, and people will pay it.
This is an area with ridiculous potential in the UK if the will and the financing was there to build it.
[Conservative analysis shows](https://www.sustainabilitybynumbers.com/p/can-solar-and-wind...) that if only 10% of the UK's EEZ was used for offshore wind, it would produce >2000 TWh annually (over 2 trillion kWh).
That is equivalent to half of [all the electricity consumed by the United States](https://www.eia.gov/energyexplained/electricity/use-of-elect....) - from a country with five times fewer people, a GDP one-eighth the size and a total land area 39 times smaller.
Not only would developing this sector be an industrial driver in itself, but the sheer excess of carbon-free power could be used to power the growth of other sectors - from energy-intensive data centers to heavy industry. Needless to say it would also act as some protection given geopolitical risks with fossil fuel supplies.
And also the [development of novel energy storage solutions](https://www.theguardian.com/environment/2024/apr/01/thermal-...) means concerns about periods of low wind will likely become less of an issue over time.