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I've been on HN since around 2010 (I think) and I have heard "we're in a bubble and it's going to pop" this whole time.
by golergka 1y ago
I've been on HN since around 2010 (I think) and I have heard "we're in a bubble and it's going to pop" this whole time.
- tmpz22 1y agoCalifornia just became the 4th largest economy largely due to tech, and currently ranks 42nd among states in terms of job growth in Q1 2025. The Pop won't be a collapse of capital it'll be in continued decline for the 95% as tech oligarchs continue to facilitate the transfer of wealth to the very top. [1]: https://www.mercurynews.com/2025/05/03/economy-jobs-layoff-work-california-bay-area-san-jose-oakland-tech/?share=feowe2lnaljfoimyoo2w https://www.mercurynews.com/2025/05/03/economy-jobs-layoff-w...
- hn_throwaway_99 1y agoBut it (at least one of the bubbles) did pop. Tons of companies who got gargantuan raises and valuations in 2020/2021 are essentially in the position where they won't hit those valuations again for years, if ever.
- golergka 1y agoThat must be tough for them. But everybody talking about it was referring to "pop" of 2001, when most of the companies didn't just hit lower valuations, they went out of business.
- rchaud 1y agoZero-interest rate policy began in 2008 and ended in 2022. Bubbles can last a long time when borrowing money has been free for the VC class to throw into AI, alongside food delivery, crypto, office rentals and taxicabs under the guise of 'technology'.