Yep. When we bought our first house (mid-1990s), interest rates were over 7%. The future is hard to know, but demographic changes are going to move a lot of mo

Yep. When we bought our first house (mid-1990s), interest rates were over 7%. The future is hard to know, but demographic changes are going to move a lot of money out of the stock market (because retiring boomers and soon gen-xers will want safer investments). At the same time, labor will itself become more valuable, because the same forces are going to tighten the labor market. To me that is suggestive of an environment where the rewards of startups vs. engineering jobs are weaker.