Tech bubbles are bursting all over the place • Hacker News Board

Re: Tech bubbles are bursting all over the place

#771

Post by TuringNYC » Thu, May 19, 2022, 11:38 PM UTC

scarface74 wrote: post #662

TuringNYC wrote: post #622

Earlier quoted context omitted.

Because then you can at least choose the company with 50MM ARR over one with 5M ARR if you have multiple offers

And what if that company with 5 million in revenue has a net profit margin of 20% and the company with 50 million in revenue has a negative profit margin?

There are a lot of what-ifs. The point is you can only decide on information you have access to, not on secret information you dont have access to. The best thing would be to know someone at the company who can share more details informally.

Re: Tech bubbles are bursting all over the place

#772

Post by me_me_mu_mu » Fri, May 20, 2022, 8:28 AM UTC

acuozzo wrote: post #392

me_me_mu_mu wrote: post #233

Earlier quoted context omitted.

I wish people would just build solutions to actual problems they have that other people also confirm to have. Not everyone is a visionary like Steve Jobs or whatever, and that’s okay. Just build something that solves your problem and helps others who also deal with it.

The issue is that many people have my problem (click below), but no scruples. https://news.ycombinator.com/item?id=31217221 The desire is there, but the idea(s) aren't and it's not for lack of trying. I've been reading that "ideas are cheap" for over a decade now, but I can honestly say that I haven't once come up with an idea that would make any money.

Idk either and I’m in the same situation trying to find something that will stick (I think they call it product market fit?) and people/businesses will pay for. I’m sure I’ll figure something out eventually.

One thing you can try is just talk to everyone. Literally everyone. I’m a super introvert and socially awkward, but if I’m standing at the bus stop or in a Starbucks I’ll talk to people and 9/10 times they will talk. Sometimes they’re people who run or work at companies in industries unfamiliar to me (construction materials, biologist, textile) and they complain about what sucks. Just keep an open ear and hopefully you can find something interesting and compelling that you can build for. Good luck!

Re: Tech bubbles are bursting all over the place

#773

Post by JJMcJ » Mon, May 23, 2022, 6:59 PM UTC

halffaday wrote: post #661

nobody9999 wrote: post #597

Earlier quoted context omitted.

>Also, imagining that corporate offices are models of efficiency is an error. Absolutely! I used to work for a Fortune 50 company (that shall remain nameless here) and was moving various groups (mostly marketing and research) away from mainframe batch processing (this was the mid 1990s) toward distributed (Unix) systems. The inefficiency and waste were just unbelievable. The corporation had tried to move their custom…

Not that long ago, California paid $2B in fraudulent benefits. https://www.latimes.com/california/story/2020-12-07/bank-of-... That’s a single program. Forget it, Jack. It’s China Town.

That was during an unprecedented event, when March/April/May 2000 saw millions of UI claims filed in a very short period.

Eventually it was sorted out but at considerable human cost. As of Jan 1 2021 something like 1.5 million claimants had their benefits stopped until they had shown proof of identity. It took months to get it all straightened out, especially for people who didn't have drivers licenses, for example.

Re: Tech bubbles are bursting all over the place

#774

Post by JJMcJ » Mon, May 23, 2022, 7:02 PM UTC

riizade wrote: post #738

halffaday wrote: post #661

Earlier quoted context omitted.

Not that long ago, California paid $2B in fraudulent benefits. https://www.latimes.com/california/story/2020-12-07/bank-of-... That’s a single program. Forget it, Jack. It’s China Town.

There are a lot of ways to compare these numbers, and I think "absolute dollar amount" is not particularly enlightening among them. On a per-project percentage basis, the parent's story wasted ~100% of the project's budget. The same number for California's unemployment fraud is less than 2% (the program totaled about $110B). $300M was wasted in an organization that serves (completely spitballing here) maybe ~500k peo…

> overpays 10x

That's more or less the business model for some consulting companies.