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> So basically you had a perfect storm of a bunch of people trying to figure out something from scratch and massive over investment from VCs. This could descri
by senko 4y ago
> So basically you had a perfect storm of a bunch of people trying to figure out something from scratch and massive over investment from VCs.
This could describe today, with crypto (tech still looking for solutions to problems that aren't scams), AI (great potential but mostly in a gimmick phase right now), and VCs coming from a decade of record-low rates causing extreme valuations across the board ($5M seed rounds, etc).
If you exclude Big Tech (which also took a beating but is managing), the smaller tech scene is ripe for a disruption of a very uncomfortable kind.
- Beaver117 4y agoCollectively crypto failures might have lost more money than the dot com crash
- eastbound 4y ago> crypto, AI and VC I’m pretty happy for all those sectors to tank, they don’t produce value that people would pay for, while we struggle finding competent people for product startups generating 500k per employee.
- alltheworlds 4y agoPay them more and you won't struggle.
- eastbound 4y agoHi, union representative! Do the hard tasks and I pay you exactly this amount. People are, really, so lazy. Yes there is some jQuery in the app, well it’s not the bane of the world, and yes we gotta interact with customers, horror, well deal with it and I pay you exactly the revenue it generates. But of course everyone wants to have K8s and microservices on their resume, rather than building something people want. I’ve said almost that to my senior, but he keeps hating the jQuery app. It’s fine with me, but don’t complain.
- dasil003 4y agoThis makes sense in terms of VC (not to mention broader crypto investors who got hung out to dry by SBF's ponzi scheme), but as far as employment is concerned I am not convinced that crypto represents anything like the marketshare of web startups in 2000.