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Is it so strange that perhaps maybe the volatile tech industry that has had a spectacular crash before may have another one in the near future? And if so, would
by jameslk 10y ago
Is it so strange that perhaps maybe the volatile tech industry that has had a spectacular crash before may have another one in the near future? And if so, wouldn't it be better that the tech industry not completely fuel the Bay Area economy and create a potential oversupply of housing at the same time? Would it not make more sense to tax this anomalous sector to keep things more balanced (i.e. disincentivize further growth) before the area ends up in a potentially similar situation as Detroit?
I don't live in the Bay Area, so I'm observing this from the outside. And I don't know much about the Bay Area economy either, so these aren't rhetorical questions, nor necessarily informed ones. But to me, the actions of these politicians, regardless of motivation, on the surface kind of seem rational in a long-term hedging-our-economy kind of way.
- raldi 10y agoNew York City's financial industry went through a devestating crash in 1929. Fifteen years later, would you have believed it better for the city to not become the world capital of finance?
- adrianratnapala 10y agoWould this be an argument for not basing too much of revenue on taxing the sector, since that revenue could dispear in a trice?