But the 2008 slide deck was right. It was comically easy to hire great people for a few years after Lehman. Rents were going down in San Francisco. SOMA wasn't

But the 2008 slide deck was right. It was comically easy to hire great people for a few years after Lehman. Rents were going down in San Francisco. SOMA wasn't a ghost town, exactly, but it was pretty empty compared to now. The bust was real. The rapid recovery in tech has more-or-less paralleled the rapid recovery in the stock market as a whole. There's no lesson to be learned from cynicism here, except that the tech industry probably never paid the full price for the last crash, because the "fix" for that was flooding the market with cheap capital, which makes risky investments look reasonable.