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For Silicon Valley, the Hangover Begins

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Re: For Silicon Valley, the Hangover Begins

#41

Post by danielrm26 »

skewart wrote: post #15

Is it just me or does it seem like a lot of media outlets really, really want to see a big tech downturn? I want to say to the collective writers ofthe WSJ, the NYT, and everyone else, "stop trying to make a bubble happen, it's not going to happen." I get that a bursting bubble would be dramatic, and would make for lots of compelling stories. But there are plenty of other exciting and interesting things going on in t…

Maybe it won't need to be dramatic. Maybe a relatively slow and natural deflation.

Media can raise awareness so it's not a needle pop.

Re: For Silicon Valley, the Hangover Begins

#42

Post by Inthenameofmine »

ethanbond wrote: post #20
skewart wrote: post #15

Is it just me or does it seem like a lot of media outlets really, really want to see a big tech downturn? I want to say to the collective writers ofthe WSJ, the NYT, and everyone else, "stop trying to make a bubble happen, it's not going to happen." I get that a bursting bubble would be dramatic, and would make for lots of compelling stories. But there are plenty of other exciting and interesting things going on in t…

Is it really that unbelievable that people are getting concerned with totally, for example, a gif image platform getting valuations in the hundreds of millions range?

I don't have any data, but it might be that Giphy class companies have more or less the same investment share percentage today as they used to before. It's just that the total investment pie grew. There's plenty of useful companies investors put their money in today.

Heck, I think now might be the first one in a long while that venture investors put up money for moonshot type of ideas.

Re: For Silicon Valley, the Hangover Begins

#43

Post by vasilipupkin »

elaineo wrote: post #38
skewart wrote: post #15

Is it just me or does it seem like a lot of media outlets really, really want to see a big tech downturn? I want to say to the collective writers ofthe WSJ, the NYT, and everyone else, "stop trying to make a bubble happen, it's not going to happen." I get that a bursting bubble would be dramatic, and would make for lots of compelling stories. But there are plenty of other exciting and interesting things going on in t…

I think journalists like to predict doom because imminent disasters scare people and get pageviews.

Exactly. It's at least to some degree clickbait. Imagine reading an article that goes something like this: "stock market is down since its all time high which lowered a little bit some of the valuations of some startups but it's not a big deal". It's quite likely that a lot fewer people would click on and read that article. That's just how we are wired

Re: For Silicon Valley, the Hangover Begins

#44

Post by rjeli »

seibelj wrote: post #28
skewart wrote: post #15

Is it just me or does it seem like a lot of media outlets really, really want to see a big tech downturn? I want to say to the collective writers ofthe WSJ, the NYT, and everyone else, "stop trying to make a bubble happen, it's not going to happen." I get that a bursting bubble would be dramatic, and would make for lots of compelling stories. But there are plenty of other exciting and interesting things going on in t…

Seriously? When the entire country has been forced to endure decades of stagnant wages, crippling debt, and the two major presidential candidates are a socialist and a fascist, you are surprised that people want the most babied, prima donna group of workers to ever walk the earth to get their comeuppance? An entire group of engineers who complain about 6 figure salaries and how hard it is to live on them? I'm one of…

Trump is an opportunist and a demagogue, but he's certainly not a fascist.

Re: For Silicon Valley, the Hangover Begins

#45

Post by natrius »

skewart wrote: post #15

Is it just me or does it seem like a lot of media outlets really, really want to see a big tech downturn? I want to say to the collective writers ofthe WSJ, the NYT, and everyone else, "stop trying to make a bubble happen, it's not going to happen." I get that a bursting bubble would be dramatic, and would make for lots of compelling stories. But there are plenty of other exciting and interesting things going on in t…

In addition to widespread tech worker antipathy, people expect history to rhyme. People know what a tech bubble story sounds like, and they'll buy tickets for the sequel. Eventually everyone will realize that it's not a tech bubble, it's an asset bubble that was intentionally inflated to buy us time to prevent a depression, but we didn't do much with the time.

http://www.federalreserve.gov/newsevents/speech/bernanke2012... (Search for "portfolio balance channel," the mechanism by which our monetary policy achieved the stated goal of asset price increases.)

Re: For Silicon Valley, the Hangover Begins

#46

Post by ForHackernews »

Animats wrote: post #36

Think of the customers. The lead company in the article, Practice Fusion, is an electronic medical records service for medical practices. With their system, everything is on Practice Fusion's servers; the local equipment is just a web browser. If the company ceases operation, they can export patient charts in CCDA format (which other medical records services are supposed to accept). But the office records for billing…

Yeah, that's why we've been saying "Don't put everything in the cloud" for the past decade.

Re: For Silicon Valley, the Hangover Begins

#47

Post by shams93 »

seibelj wrote: post #28
skewart wrote: post #15

Is it just me or does it seem like a lot of media outlets really, really want to see a big tech downturn? I want to say to the collective writers ofthe WSJ, the NYT, and everyone else, "stop trying to make a bubble happen, it's not going to happen." I get that a bursting bubble would be dramatic, and would make for lots of compelling stories. But there are plenty of other exciting and interesting things going on in t…

Seriously? When the entire country has been forced to endure decades of stagnant wages, crippling debt, and the two major presidential candidates are a socialist and a fascist, you are surprised that people want the most babied, prima donna group of workers to ever walk the earth to get their comeuppance? An entire group of engineers who complain about 6 figure salaries and how hard it is to live on them? I'm one of…

Actually with the cost of living and rate of taxation for singles in California it actually is difficult to live off 6 figures. Hollywood talent who actually generate much less wealth than we do get residual income, I live in a studio apartment off 6 figures but my friends who work as hollywood creatives generate far less profit but because of their strong unions are able to buy homes in Los Angeles.

Re: For Silicon Valley, the Hangover Begins

#48

Post by ldehaan »

skewart wrote: post #15

Is it just me or does it seem like a lot of media outlets really, really want to see a big tech downturn? I want to say to the collective writers ofthe WSJ, the NYT, and everyone else, "stop trying to make a bubble happen, it's not going to happen." I get that a bursting bubble would be dramatic, and would make for lots of compelling stories. But there are plenty of other exciting and interesting things going on in t…

Yeah, from my perspective it's actually getting better, but that may be due to exp increases, and not necessarily just the job market being awesome.

I regularly talk to potential side job people and the amount I can ask for my experience is definitely favorable to my financial status.

Unless the Internet, computers, and electronics are forgone for some alternate form of data storage and retrieval; as long as I stay up to date, I'm pretty much guaranteed a job.

I am moving into "big data", so machine learning, data storage and transfer. It's actually really fun, and it seems to be the direction to take if you want to stay current.

It seems like thinking computers are swiftly replacing human workers in the work force and so it seems like a good plan to be able to program those machines ;)

Automate all the things!

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