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I went through both 2001 and 2008. Maybe crypto is relatable, but beyond that it's not close. Overall, companies have great balance sheets now. The VC funded, q
by matwood 4y ago
I went through both 2001 and 2008. Maybe crypto is relatable, but beyond that it's not close. Overall, companies have great balance sheets now. The VC funded, questionable businesses will have some washouts. But, in 2008 the whole financial system was coming apart - not localized at all. I remember going long on BofA and thinking if they go under it doesn't matter if I lose my investment.
- cmrdporcupine 4y agoI went through both, as well, and I'd say this is maybe similar to the early stages of the 2000/2001 contraction in that it's in particular affecting tech and happening rather slowly. Certainly not 2008, which was abrupt and severe, but didn't affect the tech sector as strongly as other sectors. I wouldn't rule out that in 6 months the parallels with 2001 are more pronounced. However I agree it's not really close, especially with Google/Facebook/Apple/Amazon, etc. are still printing money at an incredible rate and that money continues to sprinkle into other parts of our sector. During the .com crash there was a severe pullback in general on investment in the online startup space in general and it wasn't until the Google IPO that I felt we were truly out of that phase.
- supernovae 4y agothe only parallel to 2001 i see is crypto. The rest of tech is on pretty sound footing all things considered.