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It's hilarious how often nearly this exact quote appears at the top comment in any bad news that shows up on the front page. Sure this isn't the end of the wor

It's hilarious how often nearly this exact quote appears at the top comment in any bad news that shows up on the front page. Sure this isn't the end of the world but clearly the market doesn't believe this is a "non-deal". We're also absolutely seeing a broader shift in the tech space, and traditionally companies like Google have been more immune to market changes than others. But of course the current mantra of HN is "this is fine", it's part of a broader trend of denialism in the community that major shifts, towards things being worse, in many parts of our lives are happening.

bwb 4y ago
I don't understand, it was down 7% today, that is no big deal in the grand scheme of things. Over the next 5 years do you think this matters at all to Google given their domination in so many areas? IE, why is this story on the front page of HN and why is it important? What is the narrative you get from this?
- anikom15 4y ago
  Nobody can predict the next five months let alone the next five years.
- time_to_smile 4y ago
  > it was down 7% today 9.63% actually > that is no big deal in the grand scheme of things I'm not sure how you are making this claim. Today is the 2nd largest single daily drop in GOOG in the last 10 years the company (as a precent). The 1st largest drop was on 3/16/2020 The 3rd was on 3/12/2020 That means we are seeing early pandemic level drops in a price over an earnings call. Both of those other drops where due to systemic shocks to the market, this drop reflects just GOOG. So this is arguably the largest single day decline in the share price of GOOG due solely to their own performance, not do to macro trends. > why is this story on the front page of HN and why is it important? As already answered this is a historic decline in the price of GOOG. > What is the narrative you get from this? The larger story is that we're seeing a down turns in all the companies that where the hallmark of the current tech boom. The term FAANG originated because those stock were seen as incredibly strong, high growth stocks. The big part of this story is, as I have mentioned, these companies aren't losing value because of an industry trend that is equally effecting all stocks (that's happening as well) but because of their own individual performance.

bwb 4y ago

I don't understand, it was down 7% today, that is no big deal in the grand scheme of things. Over the next 5 years do you think this matters at all to Google given their domination in so many areas? IE, why is this story on the front page of HN and why is it important? What is the narrative you get from this?

anikom15 4y ago
Nobody can predict the next five months let alone the next five years.
time_to_smile 4y ago
> it was down 7% today 9.63% actually > that is no big deal in the grand scheme of things I'm not sure how you are making this claim. Today is the 2nd largest single daily drop in GOOG in the last 10 years the company (as a precent). The 1st largest drop was on 3/16/2020 The 3rd was on 3/12/2020 That means we are seeing early pandemic level drops in a price over an earnings call. Both of those other drops where due to systemic shocks to the market, this drop reflects just GOOG. So this is arguably the largest single day decline in the share price of GOOG due solely to their own performance, not do to macro trends. > why is this story on the front page of HN and why is it important? As already answered this is a historic decline in the price of GOOG. > What is the narrative you get from this? The larger story is that we're seeing a down turns in all the companies that where the hallmark of the current tech boom. The term FAANG originated because those stock were seen as incredibly strong, high growth stocks. The big part of this story is, as I have mentioned, these companies aren't losing value because of an industry trend that is equally effecting all stocks (that's happening as well) but because of their own individual performance.