Who Is Driving the Great Resignation? • Hacker News Board

Re: Who Is Driving the Great Resignation?

#121

Post by perl4ever » Thu, Sep 23, 2021, 11:45 PM UTC

user-the-name wrote: post #113

lexapro wrote: post #112

Earlier quoted context omitted.

They are $2 short but own one bitcoin that might be worth $50,000 to someone else. If I buy a car for $20,000 I'm $20,000 short but I also own a car.

And when that person does buy it for $50000, we are in the exact same situation, but now the missing money is $50000 rather than $2.

There is no such thing as a continuous market.

Everything, even stocks that are being traded at a high frequency, has moments when it is not being traded.

If continuous markets were somehow realized, then moments when value is "missing" per your definition could be rare.

But instead, there are infinite non-trading moments between each pair of trades, so "nearly all" of the time your definition says an asset is worthless. That just seems like a useless, inappropriate definition from a practical perspective.

https://en.wikipedia.org/wiki/Null_set

Re: Who Is Driving the Great Resignation?

#122

Post by user-the-name » Thu, Sep 23, 2021, 11:54 PM UTC

perl4ever wrote: post #120

user-the-name wrote: post #102

Earlier quoted context omitted.

Both of these are true, but not necessary for the argument. "One bitcoin in the world traded once" is an extreme edge case where the normally negligible factors dominate the calculation. Consider instead that there is one bitcoin, that one hundred people sell to each other in a long chain, for varying prices, playing a small fee each time. If you add up the cash inflow and outflows, you will get a net negative per pe…

>If you add up the cash inflow and outflows, you will get a net negative per person equal to the average fee paid If no theft was involved, then you can't have a net negative number for total cash flows, can you? The fees went somewhere.

There are two things that exist outside the regular trading:

First, exchanges skim a fee off the top of every transaction. That removes some money from the analysis, causing a negative sum.

Second, miners are a special case: They do not deposit any money, they only withdraw it using freshly minted coins. Thus they too skim off some of the value in the market, and also cause the sum of the regular trades to be negative.

Re: Who Is Driving the Great Resignation?

#123

Post by sbarre » Fri, Sep 24, 2021, 12:27 PM UTC

ryandrake wrote: post #43

sbarre wrote: post #27

The focus in the article on mid-career people was interesting. I wonder how many of those people are (finally?) realizing that hoping for advancement in the same company is the slow path for most people, and that taking your skills and experience somewhere else in a hot market is - all other things being equal - often a better option for your own career growth. All things are not equal of course, so I'm sure it's mor…

I guess it depends on how you define "mid-career". If you assume people generally work from, say, 20 years old to 70 years old, mid-career would be about 45. As a 45-year old in tech, I can emphatically say, the days of switching jobs for a 10+% comp bump are long, long in my past. I remember my first job change was from $45K to $60k, an incredible +33%, but each subsequent hop has been significantly less, until my m…

I hear you! Same here, I'm also in my mid-40s and was thinking "huh, I guess I'm old now"... :-)