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Tech bubbles are bursting all over the place

economist.com

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Re: Tech bubbles are bursting all over the place

#741

Post by worik »

danielvaughn wrote: post #645
worik wrote: post #563

Earlier quoted context omitted.

Unpacking that: > Code is an expression of a business solution At some very high level that may be true. The person who makes the final decision on what code I work on (who happens to be the brother of the CEO, poor fellow!) may have to consider "business requirements", but only lightly. We implement what we are told to implement. I am a worker. > The meat of any application is in the business rules it enables and en…

You’re not unpacking anything in what I said, you’re just disagreeing with each point, and each disagreement is mostly rooted in a misunderstanding of what I’m saying. My point is that the code, and all it’s material constructs that you pointed out (loops, allocation etc), do not exist apart from the business, because it’s the only reason those things exist in the first place. I’m not sure how much experience you hav…

> code, and all it’s material constructs that you pointed out (loops, allocation etc), do not exist apart from the business, because it’s the only reason those things exist in the first place. I

What else is that true for? All the way down. Biology, chemistry, physics, quantum physics.... All that we work on exists in those contexts too. Yet we just swim in the sea and ignore the water. The same is true of business matters. They are the ocean I swim in

> I’ve seen devs waste literal months on things that, had the primary stakeholders known about it, they’d never have agreed to.

That is poor communication. Communication is a necessary skill for all cooperative endeavours.

I am a cog in a machine. Unusually for some one in my position I actually have a good understanding of business (studied it for years) and I prefer computer programming. Having computer programmers stick their oar in over financial matters, unasked, is not good. So I do not do it. I know my place, I like my place.

Re: Tech bubbles are bursting all over the place

#742

Post by worik »

pclmulqdq wrote: post #581
worik wrote: post #497

Earlier quoted context omitted.

> the energy use for crypto as a whole is on par with the energy use of the fiat currency system That is an unbelievable statement just on the face of it. But if we say: "What is the energy use per transaction?" what then? The inefficiency of crypto currency is legendary.

I meant total energy spend for both systems. Despite the transaction volume being minuscule, crypto likely burns a similar amount of energy to the energy consumption of the global finance industry today.

> crypto likely burns a similar amount of energy to the energy consumption of the global finance industry today.

"likely"? What do you mean?

And that illustrates how incredibly inefficient crypto is

Re: Tech bubbles are bursting all over the place

#743

Post by stavros »

blagie wrote: post #213
ditonal wrote: post #146

Earlier quoted context omitted.

The reason for the opacity is obvious, they want you to think the equity is worth more than it is. People constantly assume good faith in these things when they shouldn’t. Obviously number of outstanding shares is a bare minimum, but things like cash reserves and cash flow should also be shared but they don’t want to share that information, often times because it’s not good, they just wasn’t people who believe in the…

That's the thing, though. It's not always a scam. You never know whether you're being scammed. I /didn't/ get scammed, but everyone working at my first company out of school thought we /would/ get scammed. We've all seen a lot of people get scammed.

Not everyone in a pyramid scheme loses money, but that doesn't make it not a scam.

Re: Tech bubbles are bursting all over the place

#744

Post by formerkrogemp »

sankumsek wrote: post #546
formerkrogemp wrote: post #374

Earlier quoted context omitted.

We don't need solar, wind, nuclear, hydro, water reclamation, on shore chip foundries, manufacturing, battery chargers, non-crumbling bridges, manufacturing, paved raids, public transit, or working airports. We need more crud apps and adtech! More stock options and stock buybacks!

I loved me some paid raids! ;) Snark aside, it is bit disheartening to see all this capital being thrown into handwave-y Web3 verticals.

> I loved me some paid raids! ;)

I used to enjoy MMOs too. I stopped playing and took up gardening of all things :). I'm still not sure what the economic value of web2 is yet, but if you find out I'll attend your showHN.

Re: Tech bubbles are bursting all over the place

#745

Post by splistud »

formerkrogemp wrote: post #665
cozos wrote: post #629

Earlier quoted context omitted.

What does it mean when inflation happens elsewhere? Isn't that kind of a good thing (if not hostile) - because we can buy stuff from "elsewhere" for cheaper?

This happened during the Asian financial crisis of the late 1980s, late 90s, and early to mid 2000s, depending on the country. Some people speculate that the currencies were manipulated to crash so that people could swoop in and buy assets for cheap in Asian countries. Samsung to this day has large foreign investor ownership for example.

No post body was provided.

Re: Tech bubbles are bursting all over the place

#746

Post by danielvaughn »

worik wrote: post #741
danielvaughn wrote: post #645

Earlier quoted context omitted.

You’re not unpacking anything in what I said, you’re just disagreeing with each point, and each disagreement is mostly rooted in a misunderstanding of what I’m saying. My point is that the code, and all it’s material constructs that you pointed out (loops, allocation etc), do not exist apart from the business, because it’s the only reason those things exist in the first place. I’m not sure how much experience you hav…

> code, and all it’s material constructs that you pointed out (loops, allocation etc), do not exist apart from the business, because it’s the only reason those things exist in the first place. I What else is that true for? All the way down. Biology, chemistry, physics, quantum physics.... All that we work on exists in those contexts too. Yet we just swim in the sea and ignore the water. The same is true of business m…

Do you honestly think I’m being so literal when I use the term “business” that I’m talking about devs getting involved in financial matters? I’m talking about developers approaching their job with the understanding that they work for a business, and that their output is intended to drive business results. If they don’t understand how their work affects the business, there is an issue.

> That is poor communication.

…yes…as I said, there needs to be a tight chain of command with clear directives at each layer, in other words, good communication. When there is a break in the communication chain, the only thing you can rely on is an individual developers judgement.

Re: Tech bubbles are bursting all over the place

#747

Post by xxpor »

repiret wrote: post #641
xxpor wrote: post #531

Earlier quoted context omitted.

>The license plate should follow the car and ownership should be changed online as part of the transaction. It sounds incredibly wasteful that every time a car changes ownership the seller must hand over the plates in person to the DMV. There's too many personalized plates and other exceptions in the US to make that viable.

Except that’s exactly how it works in many states. If you want to keep your personalized plate, you have to jump through hoops, but it defaults to go with the car in the two states I’ve lived in.

Interesting, it's actually not allowed in the 3 states I've registered a car in. In NJ, they wouldn't even allow transferring a regular plate from our old volvo (registered in my dad's name) to our new town and country (registered in my mom's), because they were owned by different people as far as the state was concerned.

Re: Tech bubbles are bursting all over the place

#748

Post by xxpor »

WWLink wrote: post #572
xxpor wrote: post #531

Earlier quoted context omitted.

>The license plate should follow the car and ownership should be changed online as part of the transaction. It sounds incredibly wasteful that every time a car changes ownership the seller must hand over the plates in person to the DMV. There's too many personalized plates and other exceptions in the US to make that viable.

The plates go with the vehicle in California most of the time. It just gets complicated when you sell to someone out of state because you have to turn the plates in yourself. If you a used car in CA, it's not unusual for the plates to be the same plates the car had since it was first registered in the state. We bought our last family car from enterprise and one day this family walked by while my mom was waiting for m…

Do you know how'd it'd work for plates like ham radio ones where you CAN'T transfer them to another another person, but it'd also make no sense to turn them in? Can you keep them to use on another car eventually?

This whole "turn in the plates or we'll go after you for not having insurance" seems completely insane. I've never turned in plates and no one's cared.

Re: Tech bubbles are bursting all over the place

#749

Post by otterley »

sokoloff wrote: post #587
otterley wrote: post #323

Earlier quoted context omitted.

Something seems a bit off, then, because if the market is appreciating, then the appraisers should be taking that into account. As another commenter said, they were certainly doing that in hot West Coast markets like SF and Seattle. Both houses I purchased (each in those locations) appraised at the contract price, and I bought them both within the last 7 years.

“Appraised at contract price” tells you how a bit about how grimy that process (that you’re paying for) is. My appraiser (on a refi) was walking around the house with me and basically asked what I thought the place was worth. That was what it appraised for. (The contract price on an original sale has the same property: what the buyer thought it was worth.) Ideally those are tethered, but the appraisals didn’t give me…

If appraisals were arranged and paid for by lenders, I think appraisals would become a lot more honest. But most lenders these days will only perform due diligence to the extent Fannie Mae/Freddie Mac require (and they already have a lot of requirements, which is why the underwriting process is so maddening), so the onus is really on the backers to require appraisers have some sort of fiduciary duty to them.

Re: Tech bubbles are bursting all over the place

#750

Post by david927 »

gruez wrote: post #626
david927 wrote: post #481

Earlier quoted context omitted.

> Need to buy a house? bid 20% more than asking, if you don't - someone else will.. in cash. Buying in cash is being done to skirt the tightened up lending standards that followed the 2008 Crisis: https://www.reddit.com/r/Superstonk/comments/uflzht/the_2022...

>superstonk I'm baffled why people would get their economic analysis from a subreddit predicated on a short sequeeze that has failed to materialize.

What gave you the idea that it would materialize in your time frame?
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