BlackRock Plans to Cut About 400 Jobs in Coming Weeks

Post by caminante » Wed, Mar 30, 2016, 10:01 PM UTC

chillwaves wrote: post #8

saasyguy wrote: post #7

Earlier quoted context omitted.

Everything can be said to be "sophisticated gambling." Nothing is certain, and only those who don't understand finance believe that any financial instrument whatsoever is a certainty. And even outside finance: the job you took isn't certain, nor is the car you bought or the marriage you entered into. Finance has its problems but the gambling aspect isn't the root of it.

The difference is whether you are the house or you are getting screwed by the house. My guess, most people are not the house.

Post by newjersey » Wed, Mar 30, 2016, 10:21 PM UTC

wrong_variable wrote: post #9

newjersey wrote: post #5

Earlier quoted context omitted.

You're mostly correct but the beauty of talking in absolutes is that I just need to give one counter example. Y Combinator's darling (and still a source of confusion for me because I don't understand how it managed to be so successful against all odds) is Dropbox. https://news.ycombinator.com/item?id=2813324 So to reiterate, I'm not saying you're wrong. HN and by extension most news reporting and aggregation seems to…

Modern Software companies do not survive by making the majority of there users pay. They survive by generating revenue from power users. The simple fact is - the world operates on a network of debt and saving. So 400 jobs lost at blackrocks - means 400 new opening for green jobs in Australia. Capital really does not live to stay in one place - it always wants to work. If you have 10 million dollars in the bank - you…

Post by ra1n85 » Wed, Mar 30, 2016, 10:37 PM UTC

jjn2009 wrote: post #14

wrong_variable wrote: post #9

Earlier quoted context omitted.

Modern Software companies do not survive by making the majority of there users pay. They survive by generating revenue from power users. The simple fact is - the world operates on a network of debt and saving. So 400 jobs lost at blackrocks - means 400 new opening for green jobs in Australia. Capital really does not live to stay in one place - it always wants to work. If you have 10 million dollars in the bank - you…

>So 400 jobs lost at blackrocks - means 400 new opening for green jobs in Australia. This is not necessarily true. People can and will hold onto their cash negating any growth of the market in the face of job losses, its not a zero sum game. In fact job layoffs can increase panic and increase hoarding of capital. > If you have 10 million dollars in the bank - you will be burning money just due to inflation. 1-2% defl…

Post by caminante » Wed, Mar 30, 2016, 10:54 PM UTC

sna1l wrote: post #12

Doesn't Goldman Sachs fire the bottom 5% every year? This constitutes just 3% of BlackRock's employee head count.

Post by baoha » Wed, Mar 30, 2016, 11:01 PM UTC

newjersey wrote: post #5

wrong_variable wrote: post #2

HN never has news "Firm X set to hire 400 people". If the stock market followed HN - then there would always be deflation.

You're mostly correct but the beauty of talking in absolutes is that I just need to give one counter example. Y Combinator's darling (and still a source of confusion for me because I don't understand how it managed to be so successful against all odds) is Dropbox. https://news.ycombinator.com/item?id=2813324 So to reiterate, I'm not saying you're wrong. HN and by extension most news reporting and aggregation seems to…