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It feels like the roaring 20's. All this cheap money is subsidizing a lifestyle of well paying jobs, high rent, and cheap Ubers. People want to live in cities w
by krashidov 10y ago
It feels like the roaring 20's. All this cheap money is subsidizing a lifestyle of well paying jobs, high rent, and cheap Ubers. People want to live in cities where all the jobs are and where all the fun new development is happening so that they can Uber and Lyft to the newest restaurant.
Personally, I love it, and I hope we're just in an era of profound economic growth. But every time I go out and see cranes in the skyline and I see that I just paid six dollars to be driven across town, I can't help but think that none of this is real. It's all just a temporary playground being propped up by cheap VC cash.
I really hope I'm wrong.
- deleted 10y ago[deleted]
- jordanb 10y agoWell like 1929 the United States is immensely unequal and getting worse. I believe that what's happening now has to end somehow. And if it doesn't end with a financial crash it may just end with guillotines. We're already watching increasing political instability develop in this country and across the world.
- pembrook 10y agoVC cash only seems like it's having a large effect on the world because you read Hacker News and work in Tech. The total value of VC investment in 2015 (the most recent data I could find) was around 60 billion. The US GDP in 2015 was 18,036 Billion. I can assure you its influence on our economy as a whole is miniscule. You're not wrong about the temporary "propped up" nature of our economy however. Except the cause is not VC money, it's low interest rates courtesy of the Fed.
- Aloha 10y agoWe need to inject money into rural areas to see a real recovery - most of that prosperity you saw in rural america from 1950-1970 was a result of the capital and resources injected by the New Deal.