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Wow, there are soo many resignations happening this week! I am stunned. Anyone have articles on how this happened and what it means?

finance-geek 11y ago
I was thinking the same, but it is earnings season in a down market...
awqrre 11y ago
Do they all know that a crash is coming?
- noobermin 11y ago
  It's almost as if everyone wants to see a crash. It's funny how crashes are almost psychological play at times. I hate "yo" as much as the next guy, but the pain of seeing a significant depreciation in wages for anyone far out weighs the joy I'd see from having my "gut feelings" about a bubble being proved right.
  - kzhahou 11y ago
    How many Yo's have we actually had? Not many.
  - luckydata 11y ago
    In my case I'm completely shut out of a crazy real estate market in Silicon Valley with a small child to accomodate, and gloomy prospects if we ever get evicted. I'm a tech worker and I make a very nice salary, and I can't wait for a crash to take some of the crazy money out of the equation.
    - _dominic 11y ago
      Unless you have big cash savings, i don't see how you can benefit from a crash.
      - infamouscow 11y ago
        It will be a great time to move to San Francisco after the rent prices drop through the floor.
        freyr 11y ago
        > after the rent prices drop through the floor Ha, I wish. The market might cool off, but it's like saying it will be great moving to Manhattan once rent there becomes dirt cheap. Barring catastrophic events (e.g., war, a confluence of epic natural disasters, an alien invasion), not in our lifetimes.
      - luckydata 11y ago
        I disagree. I have cash, just not the crazy amount necessary to buy a 1.2M two bedroom apartment. Once prices cool down a bit the 20% of that will be lower, payments lower. I'm not hoping for a thermonuclear war, just for sanity.
        pfarnsworth 11y ago
        Unless, of course, your company goes through multiple rounds of layoffs and paycuts, as does all the other companies in the area. Then you're too scared to buy a place because you're worried about getting saddled with a large debt and possibly losing your job.
  - TallGuyShort 11y ago
    Can someone help me find the definition of yo in this context? Is it a reference to yo-yo-like fluctuations?
    - cubix 11y ago
      I think he is referring to https://en.wikipedia.org/wiki/Yo_(app) https://en.wikipedia.org/wiki/Yo_(app)
      - xigency 11y ago
        Why does it take any investment to make an app like this?
        noobermin 11y ago
        Hence the sentiment.
        pjc50 11y ago
        Other way round: taking the investment is the reason to make an app like this.
  - lvs 11y ago
    That's the wrong way to look at boom-bust cycles. The mistakes were made when investment unsustainably outstripped underlying value. You can feel bad in the bust times for those beneficiaries of the boom times, but they were simply paid forward for the bust years to come. That's just the economic sawtooth that will continue to happen as long as growth has insufficient pressure (regulatorily or culturally) for sustainability. It's all been seen before.
    - abcampbell 11y ago
      agreed. I call it #theCapitalCycle https://medium.com/@alexanderbcampbell/more-than-500bn-of-wealth-has-been-created-on-paper-by-the-unicorn-economy-f5a56514a0c1 https://medium.com/@alexanderbcampbell/more-than-500bn-of-we...
  - awqrre 11y ago
    maybe A.I. will be better at avoiding crashes... but are we there yet?
  - freyr 11y ago
    I'll say it: I want a correction. I don't believe that the VC-funded app economy is delivering. I dislike that SF and SV have a de facto monopoly on the US tech sector, and to participate here I have to spend my entire paycheck to rent the shittiest apartment I've ever lived in. I would like for housing prices to go down, or I'd like a nudge to walk away from this place.
    - jmckib 11y ago
      A huge economic downturn would decrease your rent, and probably your salary as well. A better solution would be for the city government of SF to stop restricting the housing supply.
      - niccaluim 11y ago
        SF politics are about as likely to suddenly become reasonable as Yo is to turn a profit.
    - ghaff 11y ago
      There's a decent chunk of certain segments of the tech sector in the Bay area but saying they have a "de facto monopoly on the US tech sector" is overblown. There are plenty of tech jobs in many areas of the country (including but not limited to jobs with companies that are headquartered in Silicon Valley). Much of the Bay area has had expensive housing for decades. Even if there's a downturn that disproportionately hits SV startups, the impact on Bay area housing prices is probably going to be pretty minor in the grand scheme of things.
      - ZanyProgrammer 11y ago
        Even several years ago rental prices were halfway sane. its not always been this bad. https://www.rentjungle.com/average-rent-in-sunnyvale-rent-trends/ https://www.rentjungle.com/average-rent-in-sunnyvale-rent-tr...
    - alanwatts 11y ago
      Would you rather have a correction in the real estate bubble or the tech bubble?
  - mseebach 11y ago
    Generals are always fighting the last war. There definitely seems to be a correction happening, and that's fine and welcome (and a perfectly normal feature of a healthy business environment) but to expect a full-blown implosion of an entire sector just because it happened 17 years ago doesn't seem warranted, mainly because the fundamentals of the majority of the players are totally different (well-tested and scalable, if not necessarily fully profitable, operation models that drives substantial revenue from a substantial customer base).
  - alanwatts 11y ago
    These so called "bubbles" are purely psychological because they are based on imaginary abstractions. >This was the situation of the Great Depression when here we were still, in a material sense, a very rich country, with plenty of fields and farms and mines and factories...everything going. But suddenly because of a psychological hang-up, because of a mysterious mumbo-jumbo about the economy, about the banking, we were all miserable and poor - starving in the midst of plenty. Just because of a psychological hang-up. And that hang-up is that money is real, and that people ought to suffer in order to get it. But the whole point of the machine is to relieve you of that suffering. It is ingenuity. You see we are psychologically back in the 17th century and technically in the 20th. And here comes the problem. So what we have to find out how to do is to change the psychological attitude to money and to wealth and further more to pleasure and further more to the nature of work. And this is a formidable problem. -Alan Watts: Money, Guilt, and the Machine
pippy 11y ago
Could it be the hike in Federal Reserve Rates causing credit tougher to find?
Mc_Big_G 11y ago
Anon from elsewhere - "It's called smart money cashing out at the top." He's not wrong.

finance-geek 11y ago

I was thinking the same, but it is earnings season in a down market...

awqrre 11y ago

Do they all know that a crash is coming?

noobermin 11y ago
It's almost as if everyone wants to see a crash. It's funny how crashes are almost psychological play at times. I hate "yo" as much as the next guy, but the pain of seeing a significant depreciation in wages for anyone far out weighs the joy I'd see from having my "gut feelings" about a bubble being proved right.
- kzhahou 11y ago
  How many Yo's have we actually had? Not many.
- luckydata 11y ago
  In my case I'm completely shut out of a crazy real estate market in Silicon Valley with a small child to accomodate, and gloomy prospects if we ever get evicted. I'm a tech worker and I make a very nice salary, and I can't wait for a crash to take some of the crazy money out of the equation.
  - _dominic 11y ago
    Unless you have big cash savings, i don't see how you can benefit from a crash.
    - infamouscow 11y ago
      It will be a great time to move to San Francisco after the rent prices drop through the floor.
      - freyr 11y ago
        > after the rent prices drop through the floor Ha, I wish. The market might cool off, but it's like saying it will be great moving to Manhattan once rent there becomes dirt cheap. Barring catastrophic events (e.g., war, a confluence of epic natural disasters, an alien invasion), not in our lifetimes.
    - luckydata 11y ago
      I disagree. I have cash, just not the crazy amount necessary to buy a 1.2M two bedroom apartment. Once prices cool down a bit the 20% of that will be lower, payments lower. I'm not hoping for a thermonuclear war, just for sanity.
      - pfarnsworth 11y ago
        Unless, of course, your company goes through multiple rounds of layoffs and paycuts, as does all the other companies in the area. Then you're too scared to buy a place because you're worried about getting saddled with a large debt and possibly losing your job.
- TallGuyShort 11y ago
  Can someone help me find the definition of yo in this context? Is it a reference to yo-yo-like fluctuations?
  - cubix 11y ago
    I think he is referring to https://en.wikipedia.org/wiki/Yo_(app) https://en.wikipedia.org/wiki/Yo_(app)
    - xigency 11y ago
      Why does it take any investment to make an app like this?
      - noobermin 11y ago
        Hence the sentiment.
      - pjc50 11y ago
        Other way round: taking the investment is the reason to make an app like this.
- lvs 11y ago
  That's the wrong way to look at boom-bust cycles. The mistakes were made when investment unsustainably outstripped underlying value. You can feel bad in the bust times for those beneficiaries of the boom times, but they were simply paid forward for the bust years to come. That's just the economic sawtooth that will continue to happen as long as growth has insufficient pressure (regulatorily or culturally) for sustainability. It's all been seen before.
  - abcampbell 11y ago
    agreed. I call it #theCapitalCycle https://medium.com/@alexanderbcampbell/more-than-500bn-of-wealth-has-been-created-on-paper-by-the-unicorn-economy-f5a56514a0c1 https://medium.com/@alexanderbcampbell/more-than-500bn-of-we...
- awqrre 11y ago
  maybe A.I. will be better at avoiding crashes... but are we there yet?
- freyr 11y ago
  I'll say it: I want a correction. I don't believe that the VC-funded app economy is delivering. I dislike that SF and SV have a de facto monopoly on the US tech sector, and to participate here I have to spend my entire paycheck to rent the shittiest apartment I've ever lived in. I would like for housing prices to go down, or I'd like a nudge to walk away from this place.
  - jmckib 11y ago
    A huge economic downturn would decrease your rent, and probably your salary as well. A better solution would be for the city government of SF to stop restricting the housing supply.
    - niccaluim 11y ago
      SF politics are about as likely to suddenly become reasonable as Yo is to turn a profit.
  - ghaff 11y ago
    There's a decent chunk of certain segments of the tech sector in the Bay area but saying they have a "de facto monopoly on the US tech sector" is overblown. There are plenty of tech jobs in many areas of the country (including but not limited to jobs with companies that are headquartered in Silicon Valley). Much of the Bay area has had expensive housing for decades. Even if there's a downturn that disproportionately hits SV startups, the impact on Bay area housing prices is probably going to be pretty minor in the grand scheme of things.
    - ZanyProgrammer 11y ago
      Even several years ago rental prices were halfway sane. its not always been this bad. https://www.rentjungle.com/average-rent-in-sunnyvale-rent-trends/ https://www.rentjungle.com/average-rent-in-sunnyvale-rent-tr...
  - alanwatts 11y ago
    Would you rather have a correction in the real estate bubble or the tech bubble?
- mseebach 11y ago
  Generals are always fighting the last war. There definitely seems to be a correction happening, and that's fine and welcome (and a perfectly normal feature of a healthy business environment) but to expect a full-blown implosion of an entire sector just because it happened 17 years ago doesn't seem warranted, mainly because the fundamentals of the majority of the players are totally different (well-tested and scalable, if not necessarily fully profitable, operation models that drives substantial revenue from a substantial customer base).
- alanwatts 11y ago
  These so called "bubbles" are purely psychological because they are based on imaginary abstractions. >This was the situation of the Great Depression when here we were still, in a material sense, a very rich country, with plenty of fields and farms and mines and factories...everything going. But suddenly because of a psychological hang-up, because of a mysterious mumbo-jumbo about the economy, about the banking, we were all miserable and poor - starving in the midst of plenty. Just because of a psychological hang-up. And that hang-up is that money is real, and that people ought to suffer in order to get it. But the whole point of the machine is to relieve you of that suffering. It is ingenuity. You see we are psychologically back in the 17th century and technically in the 20th. And here comes the problem. So what we have to find out how to do is to change the psychological attitude to money and to wealth and further more to pleasure and further more to the nature of work. And this is a formidable problem. -Alan Watts: Money, Guilt, and the Machine

pippy 11y ago

Could it be the hike in Federal Reserve Rates causing credit tougher to find?

Mc_Big_G 11y ago

Anon from elsewhere - "It's called smart money cashing out at the top." He's not wrong.