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Coronavirus was the impetus for pricking the bubble. As Warren Buffet so eloquently put it: “Only when the tide goes out do you discover who's been swimming nak
by 0x8BADF00D 7y ago
Coronavirus was the impetus for pricking the bubble. As Warren Buffet so eloquently put it: “Only when the tide goes out do you discover who's been swimming naked.”
Turns out there were a lot of unsustainable businesses like this. The Fed and government stimulus will not be able to reflate that bubble. No matter how many companies we nationalize.
- hn_throwaway_99 7y agoI think it's important to separate "the bubble" pricking from the very arbitrary nature of which industries are affected by coronavirus. I mean, for travel, restaurants, gyms, non-emergency healthcare etc. it's a great depression, while for distance learning, Amazon, videoconferencing, gaming, etc. it's boom times. But it's not like travel, restaurants etc. are inherently bad businesses.
- colmvp 7y agoIs Amazon booming? In Canada, some Amazon shipments for non essential equipment is going to take over a month which is why I'm not bothering to order anything from them during this time and finding other stuff locally.
- kube-system 7y agoThat's because their customers are going bananas and buying everything. Amazon is trying to hire like crazy. https://abcnews.go.com/US/wireStory/amazon-seeks-hire-100000-surge-orders-69628178 https://abcnews.go.com/US/wireStory/amazon-seeks-hire-100000...