SPY +1.01%
BND +0.18%
QQQ +2.46%
DIA +0.13%
VNQ -0.61%
GLD +2.41%
BTC +6.84%
AAPL +0.72%
GOOGL +2.32%
NVDA +4.03%
MSFT +0.75%
META -0.71%
AMZN +3.33%
TSLA +1.70%
UBER -0.52%
GS +0.64%
BAC -0.26%
JPM +0.13%
BRK.A -1.91%
COST +0.33%
XOM -0.03%
BABA +6.46%
WMT -0.63%
SPCX +1.17%
DIS -3.94%
F -1.05%
  • Discounts and special offers
  • Subscriber-only articles and interviews
  • Breaking news and trending topics

Already a subscriber?

By signing up, you accept Moneywise's Terms of Use, Subscription Agreement, and Privacy Policy.

Not interested ?

Lifestyle
An unidentified man smokes a cigarette in the street outside his office. Pascal Le Segretain/Getty Images

‘When you're smoking, you're networking by accident’ — tech executives are reviving the smoking pit, and it’s leading to monumental business deals

Smoking rates in the U.S. may have dropped by over 70% in the past 60 years, but Silicon Valley tech workers are bringing it back.

“What’s more bombastic right now than smoking cigs in the Bay Area?” said Richard Wang, cofounder of startup Clad Labs, told Business Insider. Wang even used cigarettes in a recent launch video to stir up conversation about his company.

Advertisement

But most tech workers aren’t just smoking for clicks. Bay Area workers are using cigarette breaks to bond with potential partners and bosses and communicate something about themselves — getting ahead of their peers by doing so.

Money advice that fits your real life.

By signing up, you accept Moneywise Terms of Use, Subscription Agreement, and Privacy Policy.

“When you’re smoking, you’re networking by accident,” Revamp AI cofounder Stephen Campbell told Business Insider. He says cigarettes helped him secure a major deal with an “enormous” Chinese tech company; he also says he hired some of his employees after sharing a cigarette with them.

Silicon Valley tech workers who spend big on wellness are also smoking

It seems like a contradiction that the same tech workers spending big on wellness and longevity are also interested in picking up a smoking habit.

“It’s an unspoken thing that, if someone’s bragging about all their health practices, they’re also very likely smoking a few cigarettes,” Lucas Harris, founder of trading app 10X told Business Insider.

He added that some people are spending $800 a month on wellness treatments in order to balance out their smoking habits. His own smoking habit has gotten him into conversations that shaped his career.

Many of the tech workers getting into smoking are young. So the possibility of being diagnosed with lung cancer might seem far away to them. Or they may think that AI will find the cure for cancer by the time their habit catches up with them.

In either case, it’s clear that some tech workers are fine with jeopardizing their future health for a chance at current career success.

Must Read

In the long run, smoking cigarettes could cost you more than they’ll earn you

Unfortunately for Silicon Valley locals, it’s unlikely that their big bet on cigs will pay off in the long run.

Advertisement

Even before you get to its impact on your health, smoking itself is an expensive habit. The average U.S. smoker spends around $3,000 to $5,000 each year on cigarettes, adding up to hundreds of thousands of dollars spent on cigarettes over their lifetime.

And while things might be looking up for smokers in Silicon Valley right now, smokers generally have a harder time finding jobs and are paid less than their nonsmoking peers in the same roles, Stanford Medicine found.

Once you add healthcare costs in, things get even more expensive. Smokers spend 40% more on their healthcare compared to nonsmokers, according to the New England Journal of Medicine.

Smokers do save a little on healthcare by not living as long as nonsmokers, leaving them less time to accrue medical bills. But that’s not exactly a recommended method for cutting costs.

You May Also Like

Share this:
Kit Pulliam Freelance Writer

Kit Pulliam is a DC-based financial journalist with over five years of experience writing, editing and fact-checking financial content.

more from Kit Pulliam

Explore the latest

Disclaimer

The content provided on Moneywise is information to help users become financially literate. It is neither investment, tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities, enter into any loan, mortgage or insurance agreements or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter. Advertisers are not responsible for the content of this site, including any editorials or reviews that may appear on this site. For complete and current information on any advertiser product, please visit their website.

†Terms and Conditions apply.