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Why would the market crash, and not just these few bad comapanies? What's systemic about the overhyped IRC clone or just another taxi service getting their fair

by megous 8y ago

Why would the market crash, and not just these few bad comapanies? What's systemic about the overhyped IRC clone or just another taxi service getting their fair value judged by public markets, that would cause a market crash?

komali2 8y ago
Maybe it finally pushes the student loan crisis over the edge when an influx of unemployed tech workers are added to the tens of thousands defaulting on their loans?
- mfatica 8y ago
  Outside of silicon valley there's an extraordinary amount of unfilled tech positions. If they are unemployed it's likely their own fault.
  - komali2 8y ago
    > If they are unemployed it's likely their own fault. Well hold on, I was just idly speculating, but I don't like this kind of thinking. There's a hundred and one reasons people can't leave a city, or the obstacle to leaving is too great. Off the top of my head, not wanting to uproot kids into a new school system, partner's job, disability that makes it extraordinarily difficult to move (away from whatever ADA stuff you've got set up at your apartment and commute flow you've got set up), need to stay near sick family, need to stay regional to a very specific doctor or healthcare facility, and that's just needs. A strong desire to stay in a local area due to history or just preference should be valid as well. I see this reasoning used to attack non-tech workers all the time and it bothers me.
est31 8y ago
I doubt there will be a global stock market crash but a there can definitely be a burst of the second dot com bubble. It would be enough for one of the overvalued companies to go bankrupt to take them all down, e.g. Tesla (they certainly have liquidity problems).
lordnacho 8y ago
The portfolio effect: A lot of funds pile into the techs. They lose money. Their customers pull their money. They have to sell not just the techs, but the rest of their portfolios too.

by megous 8y ago

komali2 8y ago

Maybe it finally pushes the student loan crisis over the edge when an influx of unemployed tech workers are added to the tens of thousands defaulting on their loans?

mfatica 8y ago
Outside of silicon valley there's an extraordinary amount of unfilled tech positions. If they are unemployed it's likely their own fault.
- komali2 8y ago
  > If they are unemployed it's likely their own fault. Well hold on, I was just idly speculating, but I don't like this kind of thinking. There's a hundred and one reasons people can't leave a city, or the obstacle to leaving is too great. Off the top of my head, not wanting to uproot kids into a new school system, partner's job, disability that makes it extraordinarily difficult to move (away from whatever ADA stuff you've got set up at your apartment and commute flow you've got set up), need to stay near sick family, need to stay regional to a very specific doctor or healthcare facility, and that's just needs. A strong desire to stay in a local area due to history or just preference should be valid as well. I see this reasoning used to attack non-tech workers all the time and it bothers me.

est31 8y ago

I doubt there will be a global stock market crash but a there can definitely be a burst of the second dot com bubble. It would be enough for one of the overvalued companies to go bankrupt to take them all down, e.g. Tesla (they certainly have liquidity problems).

lordnacho 8y ago

The portfolio effect: A lot of funds pile into the techs. They lose money. Their customers pull their money. They have to sell not just the techs, but the rest of their portfolios too.