How tech’s defiance of economic gravity came to an abrupt end
1–10 of 212 posts
Re: How tech’s defiance of economic gravity came to an abrupt end
#2When the DotCom bubble burst, and after 2009, traffic in the Bay Area cleared up. Commuting time got cut by half. Homes in many neighborhoods, apart from the very best school districts, became attainable.
This has yet to happen. Unemployment is still quite low. The music is just starting.
Re: How tech’s defiance of economic gravity came to an abrupt end
#3Re: How tech’s defiance of economic gravity came to an abrupt end
#4Re: How tech’s defiance of economic gravity came to an abrupt end
#5When the DotCom bubble burst, and after 2009, traffic in the Bay Area cleared up. Commuting time got cut by half. Homes in many neighborhoods, apart from the very best school districts, became attainable. This has yet to happen. Unemployment is still quite low. The music is just starting.
The dominant narrative among investors and funds, at least in my domain (web3, tech investing) has been that "Fed will pivot soon, and the party will start anew".
As long as that narrative remains strong, nobody will dump everything. New investment might stall, but no panic in the ranks.
The real panic will set when the pivot does not happen. Or if it does happen and inflation comes roaring back, leading to a longer and deeper rate hike.
Re: How tech’s defiance of economic gravity came to an abrupt end
#6[dead]
Re: How tech’s defiance of economic gravity came to an abrupt end
#7When the DotCom bubble burst, and after 2009, traffic in the Bay Area cleared up. Commuting time got cut by half. Homes in many neighborhoods, apart from the very best school districts, became attainable. This has yet to happen. Unemployment is still quite low. The music is just starting.
The dominant narrative among investors and funds, at least in my domain (web3, tech investing) has been that "Fed will pivot soon, and the party will start anew". As long as that narrative remains strong, nobody will dump everything. New investment might stall, but no panic in the ranks. The real panic will set when the pivot does not happen. Or if it does happen and inflation comes roaring back, leading to a longer…
Let’s hope the inflation comes back and deeper rate hikes destroy SaaS.
It’s rent seeking. The internet does not need landlords.
Technology is great, discovery is great; politically correct economic traditions of enabling a minority that can email 20-30 minutes a day and fuck off to the beach with their friends was a huge problem.
The rest of society will not tolerate austerity for them and privilege for prince and princess billionaire heirs as generational churn reshapes political power.
Our statistical tools are curious indeed but the wrong tools for management of living, breathing, beings, and humans have a long history of belief in false prophets that we barely just consciously began moving away from (Vint, Gates, Jobs; they did not invent computing or even transmitting coded signals as electrons through a medium). It’s a hard sell our leaders steeped in a less tolerant, post war shell shocked, Cold War paranoid era, huffing leaded gas fumes, are of “the right stuff” to still dictate our agency.
Re: How tech’s defiance of economic gravity came to an abrupt end
#8When the DotCom bubble burst, and after 2009, traffic in the Bay Area cleared up. Commuting time got cut by half. Homes in many neighborhoods, apart from the very best school districts, became attainable. This has yet to happen. Unemployment is still quite low. The music is just starting.
The dominant narrative among investors and funds, at least in my domain (web3, tech investing) has been that "Fed will pivot soon, and the party will start anew". As long as that narrative remains strong, nobody will dump everything. New investment might stall, but no panic in the ranks. The real panic will set when the pivot does not happen. Or if it does happen and inflation comes roaring back, leading to a longer…
“Soon” is mid 2024 at the earliest. The start ups haven’t really even begun to trim fat. Big tech like amazon, meta, google will increase attrition targets in addition to actual layoffs.
I could turn out to be wrong but id bet there’s many more waves of cascading pain before before things turn other way. Turning other way doesnt mean we immediately go back to excess hiring, empire building, lack of focus, free uber rides and oat milk lattes.
will be long while before market turns in favor of employees.
Re: How tech’s defiance of economic gravity came to an abrupt end
#9When the DotCom bubble burst, and after 2009, traffic in the Bay Area cleared up. Commuting time got cut by half. Homes in many neighborhoods, apart from the very best school districts, became attainable. This has yet to happen. Unemployment is still quite low. The music is just starting.
> When the DotCom bubble burst, and after 2009, traffic in the Bay Area cleared up. Commuting time got cut by half. Homes in many neighborhoods, apart from the very best school districts, became attainable.
It was the same in 2001, BTW.
Re: How tech’s defiance of economic gravity came to an abrupt end
#10When the DotCom bubble burst, and after 2009, traffic in the Bay Area cleared up. Commuting time got cut by half. Homes in many neighborhoods, apart from the very best school districts, became attainable. This has yet to happen. Unemployment is still quite low. The music is just starting.
Agreed. I was here through both of those periods and the bottom wasn't in until the prevailing mood in the Bay Area was that tech was over, or at least the Bay Area's dominance of tech was over. We're nowhere near that level of despair yet.