▲ 1080 ▼ AI Is Starting to Look Like the Dot Com Bubble (futurism.com) submitted 3 years ago by stopthatgirl7@kbin.social to c/technology@lemmy.world 340 comments fedilink hide all child comments As the AI market continues to balloon, experts are warning that its VC-driven rise is eerily similar to that of the dot com bubble.
[+] FMT99@lemmy.world 23 points 3 years ago* (last edited 1 year ago) (3 children) [deleted] permalink fedilink source parent hideshow 6 child comments replies: [–] BradleyUffner@lemmy.world 93 points 3 years ago (3 children) Lots of everyday normal people lost their jobs due to the bubble. Saying it only impacted the already rich investors is wrong. permalink fedilink source parent hideshow 6 child comments replies: [–] ZagTheRaccoon@reddthat.com 3 points 3 years ago* (last edited 3 years ago) There really isn't much that can harm rich people that won't indirectly do splash damage on other people, just because their actions control so much of the economy that people depend on for survival. permalink fedilink source parent [+] Candelestine@lemmy.world -12 points 3 years ago* (last edited 3 years ago) (1 child) Lots or some? I'd say "some". edit: Really, though. How many people lost their jobs? Obviously, this being a techy space, anecdotes will lean towards people knowing someone personally. Tech people know other tech people. But in a country of 300 million, how many people was it? Was unemployment significantly moved by it? No, it was not, because for the most part the websites that failed did not employ very large numbers of people, and there were other jobs available in the field. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee 1 point 3 years ago* Apparently everyone on lemmy except us permalink fedilink source parent [+] WarmSoda@lemm.ee -32 points 3 years ago (4 children) I don't know about that. Not a single person I know or I've met has ever said they were affected by it in any way. In any state. permalink fedilink source parent hideshow 8 child comments replies: [–] Chetzemoka@kbin.social 20 points 3 years ago (1 child) Well there are two of us right here in the comment section. I had a great job at a startup online retailer. They had a good business model, it was a great place to work. We had been beating our sales projections and were only a couple months away from being profitable when the Sept 11 attacks happened. Within two weeks, our VC funding stopped and we were all out of jobs because the company owners had to choose between paying rent and paying us. They chose to pay us all severance, bless them for that. Thankfully I was young, didn't own a house, didn't have kids. But a lot of my colleagues did. permalink fedilink source parent hideshow 2 child comments replies: [+] WarmSoda@lemm.ee -28 points 3 years ago (4 children) Well there's two of us in this thread saying otherwise. Checkmate permalink fedilink source parent hideshow 8 child comments replies: [–] Chetzemoka@kbin.social 22 points 3 years ago (2 children) Fully admits to being a literal child at the time. Still talking like they have something to contribute about the situation they fully admit to knowing nothing about. Gets snarky with the people who were actually impacted by it. Fucking why do people like you feel the compulsive need to open their mouths about every god damned thing? Maybe your opinion, I dunno, isn't relevant. I would like to introduce you to a different possibility. It's called keeping your mouth shut and listening. Crazy idea, I know, but it's often followed by this thing called learning. Give it a try sometime. permalink fedilink source parent hideshow 4 child comments replies: [–] WarmSoda@lemm.ee 1 point 3 years ago* (last edited 3 years ago) When did I say I was a child at the time? Where are you coming up with this stuff? So you're angry and making things up for no reason? Nice, guy. Thumbs up. permalink fedilink source parent [+] WarmSoda@lemm.ee -25 points 3 years ago Huh interestingidea. You should try taking your meds and chilling out. permalink fedilink source parent [–] gloriousspearfish@feddit.dk 7 points 3 years ago It is not a competition. But your claim that normal working people was not hurt by the dotcom bubble can not be dismissed. permalink fedilink source parent [–] RustnRuin@lemm.ee 1 point 3 years ago (2 children) So according to this thread, 50% of people got affected by the dotcom bubble, right? permalink fedilink source parent hideshow 4 child comments replies: [–] FaceDeer@kbin.social 2 points 3 years ago I went and looked up some actual numbers. According to this article: Between November 2001 and April 2005, 415,600 tech jobs had been lost. So a lot of people if you put them all in a room together, but not a huge number across the global economy. permalink fedilink source parent [–] WarmSoda@lemm.ee -5 points 3 years ago* (last edited 3 years ago) Sure. Why not. If you're an idiot. permalink fedilink source parent [–] newthrowaway20@lemmy.world 1 point 3 years ago (1 child) You're playing checkers... permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -2 points 3 years ago Connect four, actually. permalink fedilink source parent [–] grabyourmotherskeys@lemmy.world 14 points 3 years ago As someone who was getting a comp sci degree at the time, a huge percentage of my cohort could not find jobs in any IT position, let alone programming, so they ended up taking what they could get. A couple years later when companies started hiring again, no one wanted them because they hadn't worked in the industry and their degree was stale (which is bs, they were just able to hire much more experienced people for the same salary). Most of those people then ended up paying off student loans for degrees they never used. Meanwhile, those who could stayed in school flooding the market with Masters and PHD candidates which raised the bar for all coming after. That still affects hiring practices to this day. permalink fedilink source parent [–] JustSomePerson@kbin.social 9 points 3 years ago (1 child) Are you maybe too young to know people who were actually working at the time. Obviously the life of a high schooler wasn't very affected. permalink fedilink source parent hideshow 2 child comments replies: [+] WarmSoda@lemm.ee -17 points 3 years ago* (last edited 3 years ago) Right. Everyone I know was obviously in highschool? I was long out of highschool lol permalink fedilink source parent [–] wizardbeard@lemmy.dbzer0.com 5 points 3 years ago (1 child) I'd reason that has more to do with your circles than anything else. I entered college right around that time. I know multiple families who lost their home from it. My parents nearly did. My Grandparents attempt to downsize was delayed by almost five years of sitting with their house on the market and they ended up having to absolutely slash the sales price to sell their home. I know people who lost their jobs as primary breadwinner in their household and never were able to get back into the workforce in any significant capacity until just before the pandemic. I know many people who graduated college 2008-2012, had wonderful credentials/resumes, who weren't able to find stable employment or a starter "career" job until 2017 or later. Hell, the 2008 crash was the big tipping point for the public idea that if you worked hard and did good in school, you could just expect things to work out well for your employment. There's all sorts of shit you could use to pick apart these folks, blame what occurred on choices they made, and you wouldn't be entirely off base for some of them. However, that doesnct change that despite your personal circles, it had a significant impact. We're going anecdote v anecdote here. Your insistance of a lack of effect on people crumbles the moment anyone comes in and says they know people who were. permalink fedilink source parent hideshow 2 child comments replies: [+] randomsnark@lemmy.ml 2 points 3 years ago [deleted] permalink fedilink source parent [–] kitonthenet@kbin.social 47 points 3 years ago (1 child) The dotcom bubble was one of the middle dominos on the way to the 2008 collapse, the fed dropped interest rates to near zero and kept them there for years, investor confidence was low, so here come mortgage backed securities. In addition, the bubble bursting and its aftermath is what allowed the big players in tech (Amazon, Google, Cisco etc) to merge to monopoly, which hasn’t been particularly good permalink fedilink source parent hideshow 2 child comments replies: [+] WarmSoda@lemm.ee -51 points 3 years ago (5 children) Most Americans didn't even feel the effects of the 2008 collapse. Most recessions aren't noticed by most of the country. These things are blown way out of proportion by news conglomerates that have a vested interest in it. permalink fedilink source parent hideshow 10 child comments replies: [–] 5in1k@lemm.ee 29 points 3 years ago (1 child) Um no. So many of my friends unemployed. So many people were losing houses. It was nuts. Everyone noticed. The government even gave us “please don’t riot” money. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -5 points 3 years ago (2 children) All your friends lost thier jobs and houses. Uh huh. permalink fedilink source parent hideshow 4 child comments replies: [–] 5in1k@lemm.ee 1 point 3 years ago I even remember going to downtown Detroit to repair scratches on desks on entire floors of a empty of employees skyscraper right on Jefferson. Hipsters bought an empty skyscraper as well up in New Center. But yeah, no one affected. permalink fedilink source parent [–] 5in1k@lemm.ee 1 point 3 years ago (1 child) The company I worked for went from 12 to 5 employees. I bought a house for 15k because so many people lost them and the prices collapsed. Did you live through it? Maybe you were just insulated or ignorant of what was happening. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee 0 points 3 years ago* I already said it didn't affect me or any of my friends or any of my family, or anyone else I know. permalink fedilink source parent [–] rambaroo@lemmy.world 11 points 3 years ago (1 child) You have got to be kidding me. I don't know a single millennial who wasn't affected badly by 2008. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -4 points 3 years ago (1 child) Not a single one! Let me guess, you know one. permalink fedilink source parent hideshow 2 child comments replies: [–] rambaroo@lemmy.world 3 points 3 years ago (1 child) You're either trolling or you live under a fucking rock. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -2 points 3 years ago I wasn't, but after everyone on lemmy suddenly became affected by 2008 I have been trolling. It's funny though, there was a post recently about how most Americans don't even notice the effects of a recession and everyone agreed in the comments. But here magically it's the opposite. permalink fedilink source parent [–] ZagTheRaccoon@reddthat.com 3 points 3 years ago this has got to be trolling. permalink fedilink source parent [–] Landrin201@lemmy.ml 2 points 3 years ago (1 child) Is this Elon musks account? Because for you to be so out of touch as to say the insane shit you just said you must be extraordinarily wealthy or a hermit living in the woods with nobody else around permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -2 points 3 years ago You're so cool permalink fedilink source parent [–] QHC@lemmy.world 0 points 3 years ago (1 child) What are your thoughts on the Great Depression or either World Wars? permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee 1 point 3 years ago Idk, probably not the same thoughts you had deciding to chime in to a 5 day old discussion. permalink fedilink source parent [–] JustSomePerson@kbin.social 42 points 3 years ago (1 child) Good for you. But perhaps fuck off, because some of us lost jobs, homes, and financial stability. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -4 points 3 years ago (1 child) Some of you is not most of Americans. permalink fedilink source parent hideshow 2 child comments replies: [–] JustSomePerson@kbin.social 2 points 3 years ago (1 child) Have you considered accepting that you're wrong on this? It's not a personal disaster to realize that just because you didn't personally see the impact, there was none. Instead of sticking to what you thought, you might learn insights. Perhaps they can be valuable when analyzing the current bubbles. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee 0 points 3 years ago* Nah I'm m always right. Your mom says so. permalink fedilink source parent
[–] BradleyUffner@lemmy.world 93 points 3 years ago (3 children) Lots of everyday normal people lost their jobs due to the bubble. Saying it only impacted the already rich investors is wrong. permalink fedilink source parent hideshow 6 child comments replies: [–] ZagTheRaccoon@reddthat.com 3 points 3 years ago* (last edited 3 years ago) There really isn't much that can harm rich people that won't indirectly do splash damage on other people, just because their actions control so much of the economy that people depend on for survival. permalink fedilink source parent [+] Candelestine@lemmy.world -12 points 3 years ago* (last edited 3 years ago) (1 child) Lots or some? I'd say "some". edit: Really, though. How many people lost their jobs? Obviously, this being a techy space, anecdotes will lean towards people knowing someone personally. Tech people know other tech people. But in a country of 300 million, how many people was it? Was unemployment significantly moved by it? No, it was not, because for the most part the websites that failed did not employ very large numbers of people, and there were other jobs available in the field. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee 1 point 3 years ago* Apparently everyone on lemmy except us permalink fedilink source parent [+] WarmSoda@lemm.ee -32 points 3 years ago (4 children) I don't know about that. Not a single person I know or I've met has ever said they were affected by it in any way. In any state. permalink fedilink source parent hideshow 8 child comments replies: [–] Chetzemoka@kbin.social 20 points 3 years ago (1 child) Well there are two of us right here in the comment section. I had a great job at a startup online retailer. They had a good business model, it was a great place to work. We had been beating our sales projections and were only a couple months away from being profitable when the Sept 11 attacks happened. Within two weeks, our VC funding stopped and we were all out of jobs because the company owners had to choose between paying rent and paying us. They chose to pay us all severance, bless them for that. Thankfully I was young, didn't own a house, didn't have kids. But a lot of my colleagues did. permalink fedilink source parent hideshow 2 child comments replies: [+] WarmSoda@lemm.ee -28 points 3 years ago (4 children) Well there's two of us in this thread saying otherwise. Checkmate permalink fedilink source parent hideshow 8 child comments replies: [–] Chetzemoka@kbin.social 22 points 3 years ago (2 children) Fully admits to being a literal child at the time. Still talking like they have something to contribute about the situation they fully admit to knowing nothing about. Gets snarky with the people who were actually impacted by it. Fucking why do people like you feel the compulsive need to open their mouths about every god damned thing? Maybe your opinion, I dunno, isn't relevant. I would like to introduce you to a different possibility. It's called keeping your mouth shut and listening. Crazy idea, I know, but it's often followed by this thing called learning. Give it a try sometime. permalink fedilink source parent hideshow 4 child comments replies: [–] WarmSoda@lemm.ee 1 point 3 years ago* (last edited 3 years ago) When did I say I was a child at the time? Where are you coming up with this stuff? So you're angry and making things up for no reason? Nice, guy. Thumbs up. permalink fedilink source parent [+] WarmSoda@lemm.ee -25 points 3 years ago Huh interestingidea. You should try taking your meds and chilling out. permalink fedilink source parent [–] gloriousspearfish@feddit.dk 7 points 3 years ago It is not a competition. But your claim that normal working people was not hurt by the dotcom bubble can not be dismissed. permalink fedilink source parent [–] RustnRuin@lemm.ee 1 point 3 years ago (2 children) So according to this thread, 50% of people got affected by the dotcom bubble, right? permalink fedilink source parent hideshow 4 child comments replies: [–] FaceDeer@kbin.social 2 points 3 years ago I went and looked up some actual numbers. According to this article: Between November 2001 and April 2005, 415,600 tech jobs had been lost. So a lot of people if you put them all in a room together, but not a huge number across the global economy. permalink fedilink source parent [–] WarmSoda@lemm.ee -5 points 3 years ago* (last edited 3 years ago) Sure. Why not. If you're an idiot. permalink fedilink source parent [–] newthrowaway20@lemmy.world 1 point 3 years ago (1 child) You're playing checkers... permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -2 points 3 years ago Connect four, actually. permalink fedilink source parent [–] grabyourmotherskeys@lemmy.world 14 points 3 years ago As someone who was getting a comp sci degree at the time, a huge percentage of my cohort could not find jobs in any IT position, let alone programming, so they ended up taking what they could get. A couple years later when companies started hiring again, no one wanted them because they hadn't worked in the industry and their degree was stale (which is bs, they were just able to hire much more experienced people for the same salary). Most of those people then ended up paying off student loans for degrees they never used. Meanwhile, those who could stayed in school flooding the market with Masters and PHD candidates which raised the bar for all coming after. That still affects hiring practices to this day. permalink fedilink source parent [–] JustSomePerson@kbin.social 9 points 3 years ago (1 child) Are you maybe too young to know people who were actually working at the time. Obviously the life of a high schooler wasn't very affected. permalink fedilink source parent hideshow 2 child comments replies: [+] WarmSoda@lemm.ee -17 points 3 years ago* (last edited 3 years ago) Right. Everyone I know was obviously in highschool? I was long out of highschool lol permalink fedilink source parent [–] wizardbeard@lemmy.dbzer0.com 5 points 3 years ago (1 child) I'd reason that has more to do with your circles than anything else. I entered college right around that time. I know multiple families who lost their home from it. My parents nearly did. My Grandparents attempt to downsize was delayed by almost five years of sitting with their house on the market and they ended up having to absolutely slash the sales price to sell their home. I know people who lost their jobs as primary breadwinner in their household and never were able to get back into the workforce in any significant capacity until just before the pandemic. I know many people who graduated college 2008-2012, had wonderful credentials/resumes, who weren't able to find stable employment or a starter "career" job until 2017 or later. Hell, the 2008 crash was the big tipping point for the public idea that if you worked hard and did good in school, you could just expect things to work out well for your employment. There's all sorts of shit you could use to pick apart these folks, blame what occurred on choices they made, and you wouldn't be entirely off base for some of them. However, that doesnct change that despite your personal circles, it had a significant impact. We're going anecdote v anecdote here. Your insistance of a lack of effect on people crumbles the moment anyone comes in and says they know people who were. permalink fedilink source parent hideshow 2 child comments replies: [+] randomsnark@lemmy.ml 2 points 3 years ago [deleted] permalink fedilink source parent
[–] ZagTheRaccoon@reddthat.com 3 points 3 years ago* (last edited 3 years ago) There really isn't much that can harm rich people that won't indirectly do splash damage on other people, just because their actions control so much of the economy that people depend on for survival. permalink fedilink source parent
[+] Candelestine@lemmy.world -12 points 3 years ago* (last edited 3 years ago) (1 child) Lots or some? I'd say "some". edit: Really, though. How many people lost their jobs? Obviously, this being a techy space, anecdotes will lean towards people knowing someone personally. Tech people know other tech people. But in a country of 300 million, how many people was it? Was unemployment significantly moved by it? No, it was not, because for the most part the websites that failed did not employ very large numbers of people, and there were other jobs available in the field. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee 1 point 3 years ago* Apparently everyone on lemmy except us permalink fedilink source parent
[–] WarmSoda@lemm.ee 1 point 3 years ago* Apparently everyone on lemmy except us permalink fedilink source parent
[+] WarmSoda@lemm.ee -32 points 3 years ago (4 children) I don't know about that. Not a single person I know or I've met has ever said they were affected by it in any way. In any state. permalink fedilink source parent hideshow 8 child comments replies: [–] Chetzemoka@kbin.social 20 points 3 years ago (1 child) Well there are two of us right here in the comment section. I had a great job at a startup online retailer. They had a good business model, it was a great place to work. We had been beating our sales projections and were only a couple months away from being profitable when the Sept 11 attacks happened. Within two weeks, our VC funding stopped and we were all out of jobs because the company owners had to choose between paying rent and paying us. They chose to pay us all severance, bless them for that. Thankfully I was young, didn't own a house, didn't have kids. But a lot of my colleagues did. permalink fedilink source parent hideshow 2 child comments replies: [+] WarmSoda@lemm.ee -28 points 3 years ago (4 children) Well there's two of us in this thread saying otherwise. Checkmate permalink fedilink source parent hideshow 8 child comments replies: [–] Chetzemoka@kbin.social 22 points 3 years ago (2 children) Fully admits to being a literal child at the time. Still talking like they have something to contribute about the situation they fully admit to knowing nothing about. Gets snarky with the people who were actually impacted by it. Fucking why do people like you feel the compulsive need to open their mouths about every god damned thing? Maybe your opinion, I dunno, isn't relevant. I would like to introduce you to a different possibility. It's called keeping your mouth shut and listening. Crazy idea, I know, but it's often followed by this thing called learning. Give it a try sometime. permalink fedilink source parent hideshow 4 child comments replies: [–] WarmSoda@lemm.ee 1 point 3 years ago* (last edited 3 years ago) When did I say I was a child at the time? Where are you coming up with this stuff? So you're angry and making things up for no reason? Nice, guy. Thumbs up. permalink fedilink source parent [+] WarmSoda@lemm.ee -25 points 3 years ago Huh interestingidea. You should try taking your meds and chilling out. permalink fedilink source parent [–] gloriousspearfish@feddit.dk 7 points 3 years ago It is not a competition. But your claim that normal working people was not hurt by the dotcom bubble can not be dismissed. permalink fedilink source parent [–] RustnRuin@lemm.ee 1 point 3 years ago (2 children) So according to this thread, 50% of people got affected by the dotcom bubble, right? permalink fedilink source parent hideshow 4 child comments replies: [–] FaceDeer@kbin.social 2 points 3 years ago I went and looked up some actual numbers. According to this article: Between November 2001 and April 2005, 415,600 tech jobs had been lost. So a lot of people if you put them all in a room together, but not a huge number across the global economy. permalink fedilink source parent [–] WarmSoda@lemm.ee -5 points 3 years ago* (last edited 3 years ago) Sure. Why not. If you're an idiot. permalink fedilink source parent [–] newthrowaway20@lemmy.world 1 point 3 years ago (1 child) You're playing checkers... permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -2 points 3 years ago Connect four, actually. permalink fedilink source parent [–] grabyourmotherskeys@lemmy.world 14 points 3 years ago As someone who was getting a comp sci degree at the time, a huge percentage of my cohort could not find jobs in any IT position, let alone programming, so they ended up taking what they could get. A couple years later when companies started hiring again, no one wanted them because they hadn't worked in the industry and their degree was stale (which is bs, they were just able to hire much more experienced people for the same salary). Most of those people then ended up paying off student loans for degrees they never used. Meanwhile, those who could stayed in school flooding the market with Masters and PHD candidates which raised the bar for all coming after. That still affects hiring practices to this day. permalink fedilink source parent [–] JustSomePerson@kbin.social 9 points 3 years ago (1 child) Are you maybe too young to know people who were actually working at the time. Obviously the life of a high schooler wasn't very affected. permalink fedilink source parent hideshow 2 child comments replies: [+] WarmSoda@lemm.ee -17 points 3 years ago* (last edited 3 years ago) Right. Everyone I know was obviously in highschool? I was long out of highschool lol permalink fedilink source parent [–] wizardbeard@lemmy.dbzer0.com 5 points 3 years ago (1 child) I'd reason that has more to do with your circles than anything else. I entered college right around that time. I know multiple families who lost their home from it. My parents nearly did. My Grandparents attempt to downsize was delayed by almost five years of sitting with their house on the market and they ended up having to absolutely slash the sales price to sell their home. I know people who lost their jobs as primary breadwinner in their household and never were able to get back into the workforce in any significant capacity until just before the pandemic. I know many people who graduated college 2008-2012, had wonderful credentials/resumes, who weren't able to find stable employment or a starter "career" job until 2017 or later. Hell, the 2008 crash was the big tipping point for the public idea that if you worked hard and did good in school, you could just expect things to work out well for your employment. There's all sorts of shit you could use to pick apart these folks, blame what occurred on choices they made, and you wouldn't be entirely off base for some of them. However, that doesnct change that despite your personal circles, it had a significant impact. We're going anecdote v anecdote here. Your insistance of a lack of effect on people crumbles the moment anyone comes in and says they know people who were. permalink fedilink source parent hideshow 2 child comments replies: [+] randomsnark@lemmy.ml 2 points 3 years ago [deleted] permalink fedilink source parent
[–] Chetzemoka@kbin.social 20 points 3 years ago (1 child) Well there are two of us right here in the comment section. I had a great job at a startup online retailer. They had a good business model, it was a great place to work. We had been beating our sales projections and were only a couple months away from being profitable when the Sept 11 attacks happened. Within two weeks, our VC funding stopped and we were all out of jobs because the company owners had to choose between paying rent and paying us. They chose to pay us all severance, bless them for that. Thankfully I was young, didn't own a house, didn't have kids. But a lot of my colleagues did. permalink fedilink source parent hideshow 2 child comments replies: [+] WarmSoda@lemm.ee -28 points 3 years ago (4 children) Well there's two of us in this thread saying otherwise. Checkmate permalink fedilink source parent hideshow 8 child comments replies: [–] Chetzemoka@kbin.social 22 points 3 years ago (2 children) Fully admits to being a literal child at the time. Still talking like they have something to contribute about the situation they fully admit to knowing nothing about. Gets snarky with the people who were actually impacted by it. Fucking why do people like you feel the compulsive need to open their mouths about every god damned thing? Maybe your opinion, I dunno, isn't relevant. I would like to introduce you to a different possibility. It's called keeping your mouth shut and listening. Crazy idea, I know, but it's often followed by this thing called learning. Give it a try sometime. permalink fedilink source parent hideshow 4 child comments replies: [–] WarmSoda@lemm.ee 1 point 3 years ago* (last edited 3 years ago) When did I say I was a child at the time? Where are you coming up with this stuff? So you're angry and making things up for no reason? Nice, guy. Thumbs up. permalink fedilink source parent [+] WarmSoda@lemm.ee -25 points 3 years ago Huh interestingidea. You should try taking your meds and chilling out. permalink fedilink source parent [–] gloriousspearfish@feddit.dk 7 points 3 years ago It is not a competition. But your claim that normal working people was not hurt by the dotcom bubble can not be dismissed. permalink fedilink source parent [–] RustnRuin@lemm.ee 1 point 3 years ago (2 children) So according to this thread, 50% of people got affected by the dotcom bubble, right? permalink fedilink source parent hideshow 4 child comments replies: [–] FaceDeer@kbin.social 2 points 3 years ago I went and looked up some actual numbers. According to this article: Between November 2001 and April 2005, 415,600 tech jobs had been lost. So a lot of people if you put them all in a room together, but not a huge number across the global economy. permalink fedilink source parent [–] WarmSoda@lemm.ee -5 points 3 years ago* (last edited 3 years ago) Sure. Why not. If you're an idiot. permalink fedilink source parent [–] newthrowaway20@lemmy.world 1 point 3 years ago (1 child) You're playing checkers... permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -2 points 3 years ago Connect four, actually. permalink fedilink source parent
[+] WarmSoda@lemm.ee -28 points 3 years ago (4 children) Well there's two of us in this thread saying otherwise. Checkmate permalink fedilink source parent hideshow 8 child comments replies: [–] Chetzemoka@kbin.social 22 points 3 years ago (2 children) Fully admits to being a literal child at the time. Still talking like they have something to contribute about the situation they fully admit to knowing nothing about. Gets snarky with the people who were actually impacted by it. Fucking why do people like you feel the compulsive need to open their mouths about every god damned thing? Maybe your opinion, I dunno, isn't relevant. I would like to introduce you to a different possibility. It's called keeping your mouth shut and listening. Crazy idea, I know, but it's often followed by this thing called learning. Give it a try sometime. permalink fedilink source parent hideshow 4 child comments replies: [–] WarmSoda@lemm.ee 1 point 3 years ago* (last edited 3 years ago) When did I say I was a child at the time? Where are you coming up with this stuff? So you're angry and making things up for no reason? Nice, guy. Thumbs up. permalink fedilink source parent [+] WarmSoda@lemm.ee -25 points 3 years ago Huh interestingidea. You should try taking your meds and chilling out. permalink fedilink source parent [–] gloriousspearfish@feddit.dk 7 points 3 years ago It is not a competition. But your claim that normal working people was not hurt by the dotcom bubble can not be dismissed. permalink fedilink source parent [–] RustnRuin@lemm.ee 1 point 3 years ago (2 children) So according to this thread, 50% of people got affected by the dotcom bubble, right? permalink fedilink source parent hideshow 4 child comments replies: [–] FaceDeer@kbin.social 2 points 3 years ago I went and looked up some actual numbers. According to this article: Between November 2001 and April 2005, 415,600 tech jobs had been lost. So a lot of people if you put them all in a room together, but not a huge number across the global economy. permalink fedilink source parent [–] WarmSoda@lemm.ee -5 points 3 years ago* (last edited 3 years ago) Sure. Why not. If you're an idiot. permalink fedilink source parent [–] newthrowaway20@lemmy.world 1 point 3 years ago (1 child) You're playing checkers... permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -2 points 3 years ago Connect four, actually. permalink fedilink source parent
[–] Chetzemoka@kbin.social 22 points 3 years ago (2 children) Fully admits to being a literal child at the time. Still talking like they have something to contribute about the situation they fully admit to knowing nothing about. Gets snarky with the people who were actually impacted by it. Fucking why do people like you feel the compulsive need to open their mouths about every god damned thing? Maybe your opinion, I dunno, isn't relevant. I would like to introduce you to a different possibility. It's called keeping your mouth shut and listening. Crazy idea, I know, but it's often followed by this thing called learning. Give it a try sometime. permalink fedilink source parent hideshow 4 child comments replies: [–] WarmSoda@lemm.ee 1 point 3 years ago* (last edited 3 years ago) When did I say I was a child at the time? Where are you coming up with this stuff? So you're angry and making things up for no reason? Nice, guy. Thumbs up. permalink fedilink source parent [+] WarmSoda@lemm.ee -25 points 3 years ago Huh interestingidea. You should try taking your meds and chilling out. permalink fedilink source parent
[–] WarmSoda@lemm.ee 1 point 3 years ago* (last edited 3 years ago) When did I say I was a child at the time? Where are you coming up with this stuff? So you're angry and making things up for no reason? Nice, guy. Thumbs up. permalink fedilink source parent
[+] WarmSoda@lemm.ee -25 points 3 years ago Huh interestingidea. You should try taking your meds and chilling out. permalink fedilink source parent
[–] gloriousspearfish@feddit.dk 7 points 3 years ago It is not a competition. But your claim that normal working people was not hurt by the dotcom bubble can not be dismissed. permalink fedilink source parent
[–] RustnRuin@lemm.ee 1 point 3 years ago (2 children) So according to this thread, 50% of people got affected by the dotcom bubble, right? permalink fedilink source parent hideshow 4 child comments replies: [–] FaceDeer@kbin.social 2 points 3 years ago I went and looked up some actual numbers. According to this article: Between November 2001 and April 2005, 415,600 tech jobs had been lost. So a lot of people if you put them all in a room together, but not a huge number across the global economy. permalink fedilink source parent [–] WarmSoda@lemm.ee -5 points 3 years ago* (last edited 3 years ago) Sure. Why not. If you're an idiot. permalink fedilink source parent
[–] FaceDeer@kbin.social 2 points 3 years ago I went and looked up some actual numbers. According to this article: Between November 2001 and April 2005, 415,600 tech jobs had been lost. So a lot of people if you put them all in a room together, but not a huge number across the global economy. permalink fedilink source parent
[–] WarmSoda@lemm.ee -5 points 3 years ago* (last edited 3 years ago) Sure. Why not. If you're an idiot. permalink fedilink source parent
[–] newthrowaway20@lemmy.world 1 point 3 years ago (1 child) You're playing checkers... permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -2 points 3 years ago Connect four, actually. permalink fedilink source parent
[–] grabyourmotherskeys@lemmy.world 14 points 3 years ago As someone who was getting a comp sci degree at the time, a huge percentage of my cohort could not find jobs in any IT position, let alone programming, so they ended up taking what they could get. A couple years later when companies started hiring again, no one wanted them because they hadn't worked in the industry and their degree was stale (which is bs, they were just able to hire much more experienced people for the same salary). Most of those people then ended up paying off student loans for degrees they never used. Meanwhile, those who could stayed in school flooding the market with Masters and PHD candidates which raised the bar for all coming after. That still affects hiring practices to this day. permalink fedilink source parent
[–] JustSomePerson@kbin.social 9 points 3 years ago (1 child) Are you maybe too young to know people who were actually working at the time. Obviously the life of a high schooler wasn't very affected. permalink fedilink source parent hideshow 2 child comments replies: [+] WarmSoda@lemm.ee -17 points 3 years ago* (last edited 3 years ago) Right. Everyone I know was obviously in highschool? I was long out of highschool lol permalink fedilink source parent
[+] WarmSoda@lemm.ee -17 points 3 years ago* (last edited 3 years ago) Right. Everyone I know was obviously in highschool? I was long out of highschool lol permalink fedilink source parent
[–] wizardbeard@lemmy.dbzer0.com 5 points 3 years ago (1 child) I'd reason that has more to do with your circles than anything else. I entered college right around that time. I know multiple families who lost their home from it. My parents nearly did. My Grandparents attempt to downsize was delayed by almost five years of sitting with their house on the market and they ended up having to absolutely slash the sales price to sell their home. I know people who lost their jobs as primary breadwinner in their household and never were able to get back into the workforce in any significant capacity until just before the pandemic. I know many people who graduated college 2008-2012, had wonderful credentials/resumes, who weren't able to find stable employment or a starter "career" job until 2017 or later. Hell, the 2008 crash was the big tipping point for the public idea that if you worked hard and did good in school, you could just expect things to work out well for your employment. There's all sorts of shit you could use to pick apart these folks, blame what occurred on choices they made, and you wouldn't be entirely off base for some of them. However, that doesnct change that despite your personal circles, it had a significant impact. We're going anecdote v anecdote here. Your insistance of a lack of effect on people crumbles the moment anyone comes in and says they know people who were. permalink fedilink source parent hideshow 2 child comments replies: [+] randomsnark@lemmy.ml 2 points 3 years ago [deleted] permalink fedilink source parent
[–] kitonthenet@kbin.social 47 points 3 years ago (1 child) The dotcom bubble was one of the middle dominos on the way to the 2008 collapse, the fed dropped interest rates to near zero and kept them there for years, investor confidence was low, so here come mortgage backed securities. In addition, the bubble bursting and its aftermath is what allowed the big players in tech (Amazon, Google, Cisco etc) to merge to monopoly, which hasn’t been particularly good permalink fedilink source parent hideshow 2 child comments replies: [+] WarmSoda@lemm.ee -51 points 3 years ago (5 children) Most Americans didn't even feel the effects of the 2008 collapse. Most recessions aren't noticed by most of the country. These things are blown way out of proportion by news conglomerates that have a vested interest in it. permalink fedilink source parent hideshow 10 child comments replies: [–] 5in1k@lemm.ee 29 points 3 years ago (1 child) Um no. So many of my friends unemployed. So many people were losing houses. It was nuts. Everyone noticed. The government even gave us “please don’t riot” money. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -5 points 3 years ago (2 children) All your friends lost thier jobs and houses. Uh huh. permalink fedilink source parent hideshow 4 child comments replies: [–] 5in1k@lemm.ee 1 point 3 years ago I even remember going to downtown Detroit to repair scratches on desks on entire floors of a empty of employees skyscraper right on Jefferson. Hipsters bought an empty skyscraper as well up in New Center. But yeah, no one affected. permalink fedilink source parent [–] 5in1k@lemm.ee 1 point 3 years ago (1 child) The company I worked for went from 12 to 5 employees. I bought a house for 15k because so many people lost them and the prices collapsed. Did you live through it? Maybe you were just insulated or ignorant of what was happening. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee 0 points 3 years ago* I already said it didn't affect me or any of my friends or any of my family, or anyone else I know. permalink fedilink source parent [–] rambaroo@lemmy.world 11 points 3 years ago (1 child) You have got to be kidding me. I don't know a single millennial who wasn't affected badly by 2008. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -4 points 3 years ago (1 child) Not a single one! Let me guess, you know one. permalink fedilink source parent hideshow 2 child comments replies: [–] rambaroo@lemmy.world 3 points 3 years ago (1 child) You're either trolling or you live under a fucking rock. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -2 points 3 years ago I wasn't, but after everyone on lemmy suddenly became affected by 2008 I have been trolling. It's funny though, there was a post recently about how most Americans don't even notice the effects of a recession and everyone agreed in the comments. But here magically it's the opposite. permalink fedilink source parent [–] ZagTheRaccoon@reddthat.com 3 points 3 years ago this has got to be trolling. permalink fedilink source parent [–] Landrin201@lemmy.ml 2 points 3 years ago (1 child) Is this Elon musks account? Because for you to be so out of touch as to say the insane shit you just said you must be extraordinarily wealthy or a hermit living in the woods with nobody else around permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -2 points 3 years ago You're so cool permalink fedilink source parent [–] QHC@lemmy.world 0 points 3 years ago (1 child) What are your thoughts on the Great Depression or either World Wars? permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee 1 point 3 years ago Idk, probably not the same thoughts you had deciding to chime in to a 5 day old discussion. permalink fedilink source parent
[+] WarmSoda@lemm.ee -51 points 3 years ago (5 children) Most Americans didn't even feel the effects of the 2008 collapse. Most recessions aren't noticed by most of the country. These things are blown way out of proportion by news conglomerates that have a vested interest in it. permalink fedilink source parent hideshow 10 child comments replies: [–] 5in1k@lemm.ee 29 points 3 years ago (1 child) Um no. So many of my friends unemployed. So many people were losing houses. It was nuts. Everyone noticed. The government even gave us “please don’t riot” money. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -5 points 3 years ago (2 children) All your friends lost thier jobs and houses. Uh huh. permalink fedilink source parent hideshow 4 child comments replies: [–] 5in1k@lemm.ee 1 point 3 years ago I even remember going to downtown Detroit to repair scratches on desks on entire floors of a empty of employees skyscraper right on Jefferson. Hipsters bought an empty skyscraper as well up in New Center. But yeah, no one affected. permalink fedilink source parent [–] 5in1k@lemm.ee 1 point 3 years ago (1 child) The company I worked for went from 12 to 5 employees. I bought a house for 15k because so many people lost them and the prices collapsed. Did you live through it? Maybe you were just insulated or ignorant of what was happening. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee 0 points 3 years ago* I already said it didn't affect me or any of my friends or any of my family, or anyone else I know. permalink fedilink source parent [–] rambaroo@lemmy.world 11 points 3 years ago (1 child) You have got to be kidding me. I don't know a single millennial who wasn't affected badly by 2008. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -4 points 3 years ago (1 child) Not a single one! Let me guess, you know one. permalink fedilink source parent hideshow 2 child comments replies: [–] rambaroo@lemmy.world 3 points 3 years ago (1 child) You're either trolling or you live under a fucking rock. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -2 points 3 years ago I wasn't, but after everyone on lemmy suddenly became affected by 2008 I have been trolling. It's funny though, there was a post recently about how most Americans don't even notice the effects of a recession and everyone agreed in the comments. But here magically it's the opposite. permalink fedilink source parent [–] ZagTheRaccoon@reddthat.com 3 points 3 years ago this has got to be trolling. permalink fedilink source parent [–] Landrin201@lemmy.ml 2 points 3 years ago (1 child) Is this Elon musks account? Because for you to be so out of touch as to say the insane shit you just said you must be extraordinarily wealthy or a hermit living in the woods with nobody else around permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -2 points 3 years ago You're so cool permalink fedilink source parent [–] QHC@lemmy.world 0 points 3 years ago (1 child) What are your thoughts on the Great Depression or either World Wars? permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee 1 point 3 years ago Idk, probably not the same thoughts you had deciding to chime in to a 5 day old discussion. permalink fedilink source parent
[–] 5in1k@lemm.ee 29 points 3 years ago (1 child) Um no. So many of my friends unemployed. So many people were losing houses. It was nuts. Everyone noticed. The government even gave us “please don’t riot” money. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -5 points 3 years ago (2 children) All your friends lost thier jobs and houses. Uh huh. permalink fedilink source parent hideshow 4 child comments replies: [–] 5in1k@lemm.ee 1 point 3 years ago I even remember going to downtown Detroit to repair scratches on desks on entire floors of a empty of employees skyscraper right on Jefferson. Hipsters bought an empty skyscraper as well up in New Center. But yeah, no one affected. permalink fedilink source parent [–] 5in1k@lemm.ee 1 point 3 years ago (1 child) The company I worked for went from 12 to 5 employees. I bought a house for 15k because so many people lost them and the prices collapsed. Did you live through it? Maybe you were just insulated or ignorant of what was happening. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee 0 points 3 years ago* I already said it didn't affect me or any of my friends or any of my family, or anyone else I know. permalink fedilink source parent
[–] WarmSoda@lemm.ee -5 points 3 years ago (2 children) All your friends lost thier jobs and houses. Uh huh. permalink fedilink source parent hideshow 4 child comments replies: [–] 5in1k@lemm.ee 1 point 3 years ago I even remember going to downtown Detroit to repair scratches on desks on entire floors of a empty of employees skyscraper right on Jefferson. Hipsters bought an empty skyscraper as well up in New Center. But yeah, no one affected. permalink fedilink source parent [–] 5in1k@lemm.ee 1 point 3 years ago (1 child) The company I worked for went from 12 to 5 employees. I bought a house for 15k because so many people lost them and the prices collapsed. Did you live through it? Maybe you were just insulated or ignorant of what was happening. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee 0 points 3 years ago* I already said it didn't affect me or any of my friends or any of my family, or anyone else I know. permalink fedilink source parent
[–] 5in1k@lemm.ee 1 point 3 years ago I even remember going to downtown Detroit to repair scratches on desks on entire floors of a empty of employees skyscraper right on Jefferson. Hipsters bought an empty skyscraper as well up in New Center. But yeah, no one affected. permalink fedilink source parent
[–] 5in1k@lemm.ee 1 point 3 years ago (1 child) The company I worked for went from 12 to 5 employees. I bought a house for 15k because so many people lost them and the prices collapsed. Did you live through it? Maybe you were just insulated or ignorant of what was happening. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee 0 points 3 years ago* I already said it didn't affect me or any of my friends or any of my family, or anyone else I know. permalink fedilink source parent
[–] WarmSoda@lemm.ee 0 points 3 years ago* I already said it didn't affect me or any of my friends or any of my family, or anyone else I know. permalink fedilink source parent
[–] rambaroo@lemmy.world 11 points 3 years ago (1 child) You have got to be kidding me. I don't know a single millennial who wasn't affected badly by 2008. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -4 points 3 years ago (1 child) Not a single one! Let me guess, you know one. permalink fedilink source parent hideshow 2 child comments replies: [–] rambaroo@lemmy.world 3 points 3 years ago (1 child) You're either trolling or you live under a fucking rock. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -2 points 3 years ago I wasn't, but after everyone on lemmy suddenly became affected by 2008 I have been trolling. It's funny though, there was a post recently about how most Americans don't even notice the effects of a recession and everyone agreed in the comments. But here magically it's the opposite. permalink fedilink source parent
[–] WarmSoda@lemm.ee -4 points 3 years ago (1 child) Not a single one! Let me guess, you know one. permalink fedilink source parent hideshow 2 child comments replies: [–] rambaroo@lemmy.world 3 points 3 years ago (1 child) You're either trolling or you live under a fucking rock. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -2 points 3 years ago I wasn't, but after everyone on lemmy suddenly became affected by 2008 I have been trolling. It's funny though, there was a post recently about how most Americans don't even notice the effects of a recession and everyone agreed in the comments. But here magically it's the opposite. permalink fedilink source parent
[–] rambaroo@lemmy.world 3 points 3 years ago (1 child) You're either trolling or you live under a fucking rock. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -2 points 3 years ago I wasn't, but after everyone on lemmy suddenly became affected by 2008 I have been trolling. It's funny though, there was a post recently about how most Americans don't even notice the effects of a recession and everyone agreed in the comments. But here magically it's the opposite. permalink fedilink source parent
[–] WarmSoda@lemm.ee -2 points 3 years ago I wasn't, but after everyone on lemmy suddenly became affected by 2008 I have been trolling. It's funny though, there was a post recently about how most Americans don't even notice the effects of a recession and everyone agreed in the comments. But here magically it's the opposite. permalink fedilink source parent
[–] ZagTheRaccoon@reddthat.com 3 points 3 years ago this has got to be trolling. permalink fedilink source parent
[–] Landrin201@lemmy.ml 2 points 3 years ago (1 child) Is this Elon musks account? Because for you to be so out of touch as to say the insane shit you just said you must be extraordinarily wealthy or a hermit living in the woods with nobody else around permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -2 points 3 years ago You're so cool permalink fedilink source parent
[–] QHC@lemmy.world 0 points 3 years ago (1 child) What are your thoughts on the Great Depression or either World Wars? permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee 1 point 3 years ago Idk, probably not the same thoughts you had deciding to chime in to a 5 day old discussion. permalink fedilink source parent
[–] WarmSoda@lemm.ee 1 point 3 years ago Idk, probably not the same thoughts you had deciding to chime in to a 5 day old discussion. permalink fedilink source parent
[–] JustSomePerson@kbin.social 42 points 3 years ago (1 child) Good for you. But perhaps fuck off, because some of us lost jobs, homes, and financial stability. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee -4 points 3 years ago (1 child) Some of you is not most of Americans. permalink fedilink source parent hideshow 2 child comments replies: [–] JustSomePerson@kbin.social 2 points 3 years ago (1 child) Have you considered accepting that you're wrong on this? It's not a personal disaster to realize that just because you didn't personally see the impact, there was none. Instead of sticking to what you thought, you might learn insights. Perhaps they can be valuable when analyzing the current bubbles. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee 0 points 3 years ago* Nah I'm m always right. Your mom says so. permalink fedilink source parent
[–] WarmSoda@lemm.ee -4 points 3 years ago (1 child) Some of you is not most of Americans. permalink fedilink source parent hideshow 2 child comments replies: [–] JustSomePerson@kbin.social 2 points 3 years ago (1 child) Have you considered accepting that you're wrong on this? It's not a personal disaster to realize that just because you didn't personally see the impact, there was none. Instead of sticking to what you thought, you might learn insights. Perhaps they can be valuable when analyzing the current bubbles. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee 0 points 3 years ago* Nah I'm m always right. Your mom says so. permalink fedilink source parent
[–] JustSomePerson@kbin.social 2 points 3 years ago (1 child) Have you considered accepting that you're wrong on this? It's not a personal disaster to realize that just because you didn't personally see the impact, there was none. Instead of sticking to what you thought, you might learn insights. Perhaps they can be valuable when analyzing the current bubbles. permalink fedilink source parent hideshow 2 child comments replies: [–] WarmSoda@lemm.ee 0 points 3 years ago* Nah I'm m always right. Your mom says so. permalink fedilink source parent
[–] WarmSoda@lemm.ee 0 points 3 years ago* Nah I'm m always right. Your mom says so. permalink fedilink source parent