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If the tech bubble bursts in any meaningful way it's going to take a massive amount of the economy out with it. Zounds of unemployed while collar workers, tons
by debacle 11y ago
If the tech bubble bursts in any meaningful way it's going to take a massive amount of the economy out with it. Zounds of unemployed while collar workers, tons of mortgages with unreasonable principals, and a massive amount of money on the stock market going up in smoke.
- ryanSrich 11y agoI completely agree. Most of the comments in here seem to think there will be some semblance of technology jobs left. There won't be.
- jqm 11y agoWhy? are computers going away or something? If that happens we have bigger problems than no jobs in the tech sector. The world has collapsed at that point. If it doesn't happen then guess what... there will be jobs in the tech sector. The may be hard to get but there will be people working them. On the other hand, 120K a year JS developers with two years experience... there might be not so many of those sometime in the not so distant future.
- stephenr 11y agoVC funded, exit strategy focussed, zero profit producing, unsustainable startups are not the only companies that have tech needs. As has been said, skilled workers will find work elsewhere. Overpaid junior developers who are more adept at rattling of the latest hipster buzzwords, and subsequently rewriting the same 100 line program over and over, than actually writing maintainable code, may find the unlimited flow of snacks is about to end.
- kspaans 11y agoMost of that money in the stock market is "on paper" and so the losses will mostly be on paper too. The people hardest hit will be those who are recently retired or soon to retire. Young people who bought in at the top will have decades to recover. (How quickly did the S&P500 recover after 2008?) I'd worry about the knock-on effects more than your stock portfolio.