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We were brainwashed that sharing economy (uber, wework, airbnb) was going to be our savior. We were renting because assets were too high to own, better to do sh
by richajak 7y ago
We were brainwashed that sharing economy (uber, wework, airbnb) was going to be our savior. We were renting because assets were too high to own, better to do short rent; cheaper and less commitment. Looks like those sharing economy model cannot solve the root cause. The coronavirus acts as a RESET to the whole society. We may see a collapse in housing price, business bankruptcy, and stock market. If we have to think positively, the current situation will only stop when all of these apply
-stock price reflects 8-10x true profit, not EBITDA
-average housing price in Manhattan will be be 3x working class income.
-young people get decent job, not survival gig, not blocked by increasing retiree or union.
If this virus was artificially made or by natural evolution, I can say it was meant to reset the society. It will actually prevent WW3.