4 ms·
I love all these articles. A downturn forces us to become way more efficient. By the time the next boom starts, the improvements have become best practices and
by randomwalker 18y ago
I love all these articles. A downturn forces us to become way more efficient. By the time the next boom starts, the improvements have become best practices and carry over. There are so many things we take for granted now that were once breakthough cost-cutting measures. A good example is the move to commodity hardware, which was the result of the previous bust. I love what happened to Sun during that period: http://en.wikipedia.org/wiki/Sun_microsystems#The_.22Bubble.22_and_its_aftermath http://en.wikipedia.org/wiki/Sun_microsystems#The_.22Bubble....
- dmv 18y agothe improvements have become best practices and carry over. They also become canaries, for when you hear "well, that's what we used to do but now it is different". There are best practices for buying a house, and then there were the "new way of things" during the bubble -- bidding wars, listings with offer expiration dates, etc. Three years ago, a real estate agent may have told you that you may have to be willing to pay more to get into the market or be priced out for good. That makes very little economic sense on an asset level, but it was the "new way of things". How is that working out now?