5 ms·

Zero sympathy. Happy for the tyranny of the office to fade away.

bell-cot 3y ago
> Zero sympathy. For Wall Street & the billionaires? Reasonable. But the crash will cause vastly more suffering for normal people than for the 0.1%.
- baremetal 3y ago
  I don't think most people fully grasp what is likely coming down the pike. Normalcy bias is a helluva drug.
  - heywhatupboys 3y ago
    meh, we have much more stable financial institutions in 2023 than 2008.
    - gremlinsinc 3y ago
      lol was that sarcasm? how many banks just failed including the bank most sv startups used and 16th largest? I think we'll adapt and hopefully build housing where offices used to be.
      - jddj 3y ago
        Without commenting one way or the other on the strength of the system, a large bank failing and life more or less carrying on as normal isn't a sign of systematic weakness
      - heywhatupboys 3y ago
        > how many banks just failed including the bank most sv startups used and 16th largest? that is the whole point. We had a top-10 bank fail, and you know what? our financial institutions did not cascade into failure. There WILL always be failures, ups and downs, the question is how it is mitigated.
    - baremetal 3y ago
      Are you joking or serious? We have had multiple bank failures this year. And so many banks are holding large amounts of commercial real estate and also long term bonds they can't mark to market without suffering monster losses.
      - heywhatupboys 3y ago
        > We have had multiple bank failures this year. that is the whole point. We had a top-10 bank fail, and you know what? our financial institutions did not cascade into failure. There WILL always be failures, ups and downs, the question is how it is mitigated.
        baremetal 3y ago
        >There WILL always be failures, ups and downs, the question is how it is mitigated. Privatized profits, socialized losses.
        heywhatupboys 3y ago
        no? how ould you define insurance?
    - caeril 3y ago
      This is by institutional change, not fundamental balance sheet change. In 2023, if Bank A comes to the Fed/FDIC/SEC/Treasury/Congress in the middle of night after a huge margin call, our institutions now have the processes in place to declare different accounting or collateral rules for that specific bank at the stroke of a pen. "Ok Mr. Dimon, as of midnight tonight, you no longer have to mark all of your shit paper to market. Carry it at the valuation you think is cool, bro" That's a different definition of "stable" than we had prior to the GFC.
- king_magic 3y ago
  So what, we’re all supposed to be happy going back to a miserable life of commuting 2-3 hours a day to work in miserable open office layout nightmare factories to “soften the blow” (that might not happen) for everyone else? Nah. I’m good. The world has changed. Adapt or die. Frankly, between AI and remote work, I’m happy to watch our miserable current instance of the world burn to the ground.
  - deleted 3y ago
    [deleted]

> Zero sympathy. For Wall Street & the billionaires? Reasonable. But the crash will cause vastly more suffering for normal people than for the 0.1%.

baremetal 3y ago
I don't think most people fully grasp what is likely coming down the pike. Normalcy bias is a helluva drug.
- heywhatupboys 3y ago
  meh, we have much more stable financial institutions in 2023 than 2008.
  - gremlinsinc 3y ago
    lol was that sarcasm? how many banks just failed including the bank most sv startups used and 16th largest? I think we'll adapt and hopefully build housing where offices used to be.
    - jddj 3y ago
      Without commenting one way or the other on the strength of the system, a large bank failing and life more or less carrying on as normal isn't a sign of systematic weakness
    - heywhatupboys 3y ago
      > how many banks just failed including the bank most sv startups used and 16th largest? that is the whole point. We had a top-10 bank fail, and you know what? our financial institutions did not cascade into failure. There WILL always be failures, ups and downs, the question is how it is mitigated.
  - baremetal 3y ago
    Are you joking or serious? We have had multiple bank failures this year. And so many banks are holding large amounts of commercial real estate and also long term bonds they can't mark to market without suffering monster losses.
    - heywhatupboys 3y ago
      > We have had multiple bank failures this year. that is the whole point. We had a top-10 bank fail, and you know what? our financial institutions did not cascade into failure. There WILL always be failures, ups and downs, the question is how it is mitigated.
      - baremetal 3y ago
        >There WILL always be failures, ups and downs, the question is how it is mitigated. Privatized profits, socialized losses.
        heywhatupboys 3y ago
        no? how ould you define insurance?
  - caeril 3y ago
    This is by institutional change, not fundamental balance sheet change. In 2023, if Bank A comes to the Fed/FDIC/SEC/Treasury/Congress in the middle of night after a huge margin call, our institutions now have the processes in place to declare different accounting or collateral rules for that specific bank at the stroke of a pen. "Ok Mr. Dimon, as of midnight tonight, you no longer have to mark all of your shit paper to market. Carry it at the valuation you think is cool, bro" That's a different definition of "stable" than we had prior to the GFC.
king_magic 3y ago
So what, we’re all supposed to be happy going back to a miserable life of commuting 2-3 hours a day to work in miserable open office layout nightmare factories to “soften the blow” (that might not happen) for everyone else? Nah. I’m good. The world has changed. Adapt or die. Frankly, between AI and remote work, I’m happy to watch our miserable current instance of the world burn to the ground.
- deleted 3y ago
  [deleted]