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GoFundMe CEO: economy is so bad his customers crowdfund to pay for groceries

finance.yahoo.com

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Re: GoFundMe CEO: economy is so bad his customers crowdfund to pay for groceries

#11

Post by izacus »

andirk wrote: post #4

CNBC told me the economy is doing great. My neighbor is borrowing money from me. My friend is borrowing money from me. GoFundMe is becoming more for basic needs. Everything is becoming more expensive often for no reason. According to every metric BUT stonks, the economy is holding on by a thread.

Just before elections the democrat/left US reporters were persuading me that US is doing fine on all metrics and that people's vibes are wrong.

It was utterly bizzare seeing the podcasters and media just gaslight everyone that disagreed with "US is doing great" narrative.

Re: GoFundMe CEO: economy is so bad his customers crowdfund to pay for groceries

#12

Post by pavlov »

izacus wrote: post #11
andirk wrote: post #4

CNBC told me the economy is doing great. My neighbor is borrowing money from me. My friend is borrowing money from me. GoFundMe is becoming more for basic needs. Everything is becoming more expensive often for no reason. According to every metric BUT stonks, the economy is holding on by a thread.

Just before elections the democrat/left US reporters were persuading me that US is doing fine on all metrics and that people's vibes are wrong. It was utterly bizzare seeing the podcasters and media just gaslight everyone that disagreed with "US is doing great" narrative.

All the metrics (except AI-related stock prices) are worse today than a year ago.

Does the media acknowledge that? The leading cable channel and broadcast TV stations are Republican-controlled, so now they pretend “US is doing great.”

Re: GoFundMe CEO: economy is so bad his customers crowdfund to pay for groceries

#13

Post by fabian2k »

izacus wrote: post #11
andirk wrote: post #4

CNBC told me the economy is doing great. My neighbor is borrowing money from me. My friend is borrowing money from me. GoFundMe is becoming more for basic needs. Everything is becoming more expensive often for no reason. According to every metric BUT stonks, the economy is holding on by a thread.

Just before elections the democrat/left US reporters were persuading me that US is doing fine on all metrics and that people's vibes are wrong. It was utterly bizzare seeing the podcasters and media just gaslight everyone that disagreed with "US is doing great" narrative.

Not going to defend the messaging here, they really didn't do a good job. But the US was doing better than most western countries and inflation was getting lower.

Problem is, the inflation that already happened was still there. And that part is what people notice immediately.

But right now, a part of what is happening is that Trump has been blowing up parts of the economy with his tarrifs and erratic actions. The effect of that is still happening and likely will get worse.

Re: GoFundMe CEO: economy is so bad his customers crowdfund to pay for groceries

#14

Post by uniqueuid »

andirk wrote: post #4

CNBC told me the economy is doing great. My neighbor is borrowing money from me. My friend is borrowing money from me. GoFundMe is becoming more for basic needs. Everything is becoming more expensive often for no reason. According to every metric BUT stonks, the economy is holding on by a thread.

It is immensely frustrating to me that to this day, after a solid century of advances in sciences and mathematical literacy, we are still implicitly stuck in the mental model of averages.

Reality is fucking far away from averages and we know it. "The economy is doing great/terrible" is an almost worthless indicator unless the person you're talking about actually has business relations into every corner.

Yes, there are interdependencies, but they do not justify that we pretend numbers are so expensive we can only print two of them (mean, sd) at a time. Let's finally stop drinking information through a 2 mile straw and instead show high resolution 2d data at least.

[edit] this is of course not a criticism of parent or OP, it's a systemic problem that we all are guilty of.

Re: GoFundMe CEO: economy is so bad his customers crowdfund to pay for groceries

#15

Post by rat9988 »

digitalengineer wrote: post #3

“The GoFundMe CEO hopes younger donors, who are often more values-driven, digitally native, and community-oriented, will push giving higher and faster.” I can’t believe it. THIS is what he hopes for ? He is not stating he hopes his country can get out of this mess? Or researching what his company can do? He’s just looking after his cut.

What have you done yourself here about it? For myself, nothing.

Re: GoFundMe CEO: economy is so bad his customers crowdfund to pay for groceries

#16

Post by izacus »

pavlov wrote: post #12
izacus wrote: post #11

Earlier quoted context omitted.

Just before elections the democrat/left US reporters were persuading me that US is doing fine on all metrics and that people's vibes are wrong. It was utterly bizzare seeing the podcasters and media just gaslight everyone that disagreed with "US is doing great" narrative.

All the metrics (except AI-related stock prices) are worse today than a year ago. Does the media acknowledge that? The leading cable channel and broadcast TV stations are Republican-controlled, so now they pretend “US is doing great.”

I'm talking about couple of years ago, in the leadup to elections.

Re: GoFundMe CEO: economy is so bad his customers crowdfund to pay for groceries

#17

Post by izacus »

fabian2k wrote: post #13
izacus wrote: post #11

Earlier quoted context omitted.

Just before elections the democrat/left US reporters were persuading me that US is doing fine on all metrics and that people's vibes are wrong. It was utterly bizzare seeing the podcasters and media just gaslight everyone that disagreed with "US is doing great" narrative.

Not going to defend the messaging here, they really didn't do a good job. But the US was doing better than most western countries and inflation was getting lower. Problem is, the inflation that already happened was still there. And that part is what people notice immediately. But right now, a part of what is happening is that Trump has been blowing up parts of the economy with his tarrifs and erratic actions. The eff…

Yes, that's exactly the gaslighting I'm talking about :)

Re: GoFundMe CEO: economy is so bad his customers crowdfund to pay for groceries

#18

Post by 63stack »

rat9988 wrote: post #15
digitalengineer wrote: post #3

“The GoFundMe CEO hopes younger donors, who are often more values-driven, digitally native, and community-oriented, will push giving higher and faster.” I can’t believe it. THIS is what he hopes for ? He is not stating he hopes his country can get out of this mess? Or researching what his company can do? He’s just looking after his cut.

What have you done yourself here about it? For myself, nothing.

Oh get the fuck out with that.

Not writing disingenuous feelgood bullshit, pretending that I work for some kind of greater good, while actually I'm pushing my own company, and trying to shift burden onto the "young digital natives". For a start.

Re: GoFundMe CEO: economy is so bad his customers crowdfund to pay for groceries

#19

Post by [deleted] »

andirk wrote: post #4

CNBC told me the economy is doing great. My neighbor is borrowing money from me. My friend is borrowing money from me. GoFundMe is becoming more for basic needs. Everything is becoming more expensive often for no reason. According to every metric BUT stonks, the economy is holding on by a thread.

[deleted]

Re: GoFundMe CEO: economy is so bad his customers crowdfund to pay for groceries

#20

Post by kpmcc »

There is a method for dealing with widespread inequality coinciding with generational wealth transfer, it’s called taxation. Tax transfers of wealth. It’s not complicated and doesn’t rely on the goodwill of ‘values-driven, digitally native, and community oriented’ young people.

We have a system designed to incentivize greed. Gross inequality is the result. Taxation is one viable method to deal with such a failure mode.

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