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The problem is we've been getting these markdown stories every month for a year, now. At this point they seem pretty meaningless and arbitrary in terms of wheth
by argonaut 11y ago
The problem is we've been getting these markdown stories every month for a year, now. At this point they seem pretty meaningless and arbitrary in terms of whether they signal an imminent crash.
In other words, these stories are interesting, but about as valuable as a signal as the "imminent tech bubble crash" stories we've been getting every year since 2008.
- vasilipupkin 11y agowhat do you mean by an imminent crash? in some sense, widespread markdowns are a crash. Since public markets don't appear overvalued, it's a crash in private valuations and it's going on now.
- nxzero 11y agoIt's a popular opinion that a crash is possible, if not likely.
- lumpypua 11y agoWe've gotten so used to boom/bust cycles that we try to cram everything into that narrative, and anything that doesn't fit is disregarded as meaningless. This is what a functioning market adjusting inflated valuations down looks like.