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LinkedIn shares drop 40%, erasing $10B of company's value

businessinsider.com

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Re: LinkedIn shares drop 40%, erasing $10B of company's value

#521

Post by DannyBee »

cplease wrote: post #505
singlow wrote: post #499

Earlier quoted context omitted.

He said that (most of) the 4k rents are paid by bankers and lawyers. He did not say that most bankers and lawyers pay 4k rent.

I doubt there are more lawyers than engineers paying $4K rent in SF. But whatevs.

+1

For all this talk about how engineers "might" get laid off, this completely ignores the massive contraction of the legal market that has already happened.

Outside of a few specific areas of law, and a few high powered law firms, lawyers don't make that much money.

My ex, a nationally renowned family lawyer in literally the richest area of the country doesn't make more money than i do (and she runs her own firm, so it's not like she is being kept down by partners).

Re: LinkedIn shares drop 40%, erasing $10B of company's value

#522

Post by airbreather »

I can't believe they are worth even a tenth of current price - they have added no value to my career and for some time have just been annoying. It really started going backwards with the endorsements - there is no validation of the competency of the endorser to endorse you, so it is totally pointless.

Re: LinkedIn shares drop 40%, erasing $10B of company's value

#523

Post by bby »

joshhart wrote: post #424

Hi everyone, I'm Joshua Hartman, the lead engineer for all of LinkedIn's consumer products. Thanks for all the passionate feedback here and we really appreciate it. I just wanted to say that we've been hard at work trying to improve the clarity of our products over the last year and this is something that we will continue to focus on going forward. Many of you have spoken of high volumes of emails. In 2015 LinkedIn b…

Why aren't you more clear with scanning our email contacts?

Re: LinkedIn shares drop 40%, erasing $10B of company's value

#525

Post by pekk »

imsofuture wrote: post #502
Swizec wrote: post #375

Earlier quoted context omitted.

Eh, you exaggerate. Me and my girlfriend make about $160k together and we can afford[1] a $3.5k apartment in SF. If we made $200k+ each, or if even just one of us did, $4k wouldn't even be worth thinking about. [1] by "afford" I mean that there is money left at the end of the month.

You're crazy if you think spending 12-24% of your gross income isn't "even ... worth thinking about", even as hyperbole.

What is special about 12%? Are you saying that someone is spending excessively on housing if their rent is $500/mo and they are making $4k/mo gross income?

Re: LinkedIn shares drop 40%, erasing $10B of company's value

#526

Post by epa »

sounds wrote: post #504
tryitnow wrote: post #501

Earlier quoted context omitted.

Gloomy, but likely correct. A lot of these current valuation numbers just don't make sense. The implied growth rates in many tech stocks is unrealistically high. The Bay Area's long-term employment prospects simply cannot support current home values or rental rates. Once public and private equity valuations drop a lot of software development projects are going to get cut and with them the jobs of many software engine…

So what if you're one of those new hires (or hope to be one)? I'd say keep polishing your resume. If you dropped out of school, look for a school with low tuition that isn't University of Phoenix but finish your degree. Stay on your toes: work your way through to graduation, get internships each September (as much as you can). And though the retire-as-a-millionaire thing might have vanished, you'll land on your feet.

Build your own product now that generates revenue and profit. Make your own job.

Re: LinkedIn shares drop 40%, erasing $10B of company's value

#527

Post by [deleted] »

sounds wrote: post #504
tryitnow wrote: post #501

Earlier quoted context omitted.

Gloomy, but likely correct. A lot of these current valuation numbers just don't make sense. The implied growth rates in many tech stocks is unrealistically high. The Bay Area's long-term employment prospects simply cannot support current home values or rental rates. Once public and private equity valuations drop a lot of software development projects are going to get cut and with them the jobs of many software engine…

So what if you're one of those new hires (or hope to be one)? I'd say keep polishing your resume. If you dropped out of school, look for a school with low tuition that isn't University of Phoenix but finish your degree. Stay on your toes: work your way through to graduation, get internships each September (as much as you can). And though the retire-as-a-millionaire thing might have vanished, you'll land on your feet.

[deleted]

Re: LinkedIn shares drop 40%, erasing $10B of company's value

#528

Post by ryanSrich »

DannyBee wrote: post #521
cplease wrote: post #505

Earlier quoted context omitted.

I doubt there are more lawyers than engineers paying $4K rent in SF. But whatevs.

+1 For all this talk about how engineers "might" get laid off, this completely ignores the massive contraction of the legal market that has already happened. Outside of a few specific areas of law, and a few high powered law firms, lawyers don't make that much money. My ex, a nationally renowned family lawyer in literally the richest area of the country doesn't make more money than i do (and she runs her own firm, so…

Yeah the comment about lawyers and bankers making more than engineers is straight out of 1995. Outside of highly specialized degrees in medicine there really isn't any other jobs out there paying a white collar wage ($100K +).

Re: LinkedIn shares drop 40%, erasing $10B of company's value

#529

Post by redthrowaway »

roymurdock wrote: post #469
jhulla wrote: post #353

Earlier quoted context omitted.

Stop scaring the kiddos with your ghost stories. At least let them enjoy their weekend. The problem is shrinking global liquidity. Losses in the Chinese financial system and in the global energy sector are forcing governments, central banks and sovereign wealth funds to sell assets around the world. These are some of the biggest asset managers in the world. It is unclear to me how this will end. When the mortgage mar…

> At the moment, outside of wholly energy dependent countries (Middle East, Latin America, Nigeria, etc.), there does not appear to me a 2008-like financial system shutdown. There's nothing stopping central banks from creating more liquidity through progressive rounds of QE, each of them buying in because they know their country will suffer in the short run if they do not follow suit. Of course this will lead to defl…

Could you explain how you see QE leading to deflation, when it's an explicitly inflationary policy?

Re: LinkedIn shares drop 40%, erasing $10B of company's value

#530

Post by tgsovlerkhgsel »

hnbrox wrote: post #34
dawhizkid wrote: post #22

Earlier quoted context omitted.

Really? They just settled a lawsuit for $13 million for spam: http://time.com/4062519/linkedn-spam-settlement/

i almost wish they spammed me so i could get some free money. i don't get hardly any mail from them.

You could only get money if you managed to get your address book stolen and all your contacts spammed.

$10 is very little consolation for hundreds of people you know now thinking that you are, ehrm, not smart, for giving your address book to LinkedIn, or worse, thinking you're a spammer because each of your contacts got three annoying e-mails "from you" with no opt-out button.

If they had to pay even one dollar to each person they spammed, they'd probably be bankrupt.

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