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1. BigSkyRider (bigskyrider@noagendasocial.com)'s status on Tuesday, 14-Mar-2023 14:17:16 JST BigSkyRider

   Money printers on deck

   • 🌲Number 1 Pleroma Criminal on XBL 🇵🇱|🇺🇸 (phenomx6@fedi.pawlicker.com)'s status on Tuesday, 14-Mar-2023 14:17:14 JST 🌲Number 1 Pleroma Criminal on XBL 🇵🇱|🇺🇸

     in reply to

     • djsumdog
     • Neanderthalis Dankulis🦜
     The thing with startup culture is it's been that way beforehand. I'm not kidding, the whole goal was to make a product somehow, and then a few years later when you can't make money as fast, "cash out" by selling yourself to some Big Tech company for the IP/people.
     
     Look how many orphaned 2000s and 2010 tech products exist as a result of some buyout and the company involved ditching it. Cisco comes to mind with Flip Video, or FitBit and the Pebble watch (which still has no real replacement), or numerous websites/services such as Vine (TikTok of the 10s), or Google and MS buying out so much shit and killing them. You can bet the owners cashed out and got to live their sick retirement or tried to gamble on something else while missing the mark. Even flops like the Ouya got a buyout. Literally, the buyout was an exit plan.
     
     It's just going to mean that China and Asia will be the hub of innovation as funny as it sounds. TikTok is Chinese and Samsung pioneered the folding smartphone while Apple is still releasing iPhones in the same form factor they have for years. I've seen cool ass niche tech coming out of there, while the west is about "how can I make the most money".
   • djsumdog (djsumdog@djsumdog.com)'s status on Tuesday, 14-Mar-2023 14:17:15 JST djsumdog

     in reply to

     • Neanderthalis Dankulis🦜
     You know what's funny .. SVB investing in government bonds; which should have been much safer than the mortgage backed securities of 2008 .. and yet the Fed upped interest rates, pressuring startups to pull more cash while also making SVB's long term/"safe" investments in the government worth nothing; in the event of short term dumping for cash flow. A bank with solid governance would have forced part of their investments to be in something they could sell quickly (be more liquid) in the event of a cash starvation (which honestly, most banks saw coming), rather than banking on long term bonds and the Fed not raising interest rates.
     
     Interest rates have to rise because of the insane amount of USD printed in 2020/2021; more than what's been printed per year in the history of the nation by an order of magnitude.
     
     The Fed had to know this would happen; and just like 2008: all the small banks that did the right thing will not be able to apply for BTFP, the exact same way TARP funding was denied to banks like National City of Ohio; forcing them to be sold to bigger banks who will get tax discounts for "saving" these smaller banks (effectively buying them for free).
     
     VC funding will dry up of course, allowing big tech firms to chose which small startups live and die in the same way the federal government gets to decide which banks live and die. Most will be forced to sell without every getting IPOed, and their workers will likely just get bought out at a penny rate, rather than getting shares of the purchaser (Microsoft, FB, whoever).
     
     The Fed and banks and big tech knew this was going to happen. Why else would they lay everyone off? This is not 2001 ... nor is it 2008. This is a chance for every big tech company to consolidate, buy up and lower the wages for tech workers across the board. Banks will also be allowed to pull another 2008, with corrurpt consolidation and buyouts.
     
     You may say, "but without a bailout, what will happen to my 401k and IRAs?!" Everyone might lose, and the economy could deflate. But are you really losing anything if your retirement goes from $200k to $60k, when the cost of a candy bar drops back to a quarter, and a high end video card drops to $200? What's worse, rapid deflation or hyper inflation?
   • Neanderthalis Dankulis🦜 (neanderthalsnavel@noagendasocial.com)'s status on Tuesday, 14-Mar-2023 14:17:16 JST Neanderthalis Dankulis🦜

     in reply to

     @BigSkyRider how about that college loan relief first? Why is this more important?

   • BigSkyRider (bigskyrider@noagendasocial.com)'s status on Tuesday, 14-Mar-2023 14:17:16 JST BigSkyRider

     in reply to

     • Neanderthalis Dankulis🦜

     @neanderthalsnavel there's plenty of money to be printed.

   • djsumdog (djsumdog@djsumdog.com)'s status on Tuesday, 14-Mar-2023 14:55:58 JST djsumdog

     in reply to

     • 🌲Number 1 Pleroma Criminal on XBL 🇵🇱|🇺🇸
     • Neanderthalis Dankulis🦜

     You can bet the owners cashed out and got to live their sick retirement or tried to gamble on something else while missing the mark

     eh, some of them might have. People with those types of type-A personalities cannot sit still for long. They’ll start in on part 2 and 3 .. like gambling addicts they eventually gotta lose everything or learn when to cash out.

     One startup I was pulled into on the ground floor was funded by a former CEO of Dallas Semiconductors, who funded the startup with his fucking retirement! Seriously man, just get on a plan and fly for a year! (That’s what I ended up doing after I was let go and I didn’t even have a ton-o-money :blobcatsweat:). He was an annoying-as-fuck Steve Jobs wanna-be too.

     That’s what the system encourages. Still, I don’t have that drive .. and without people with that drive we wouldn’t have half the cool shit we do. :blobcatshrug:

     🌲Number 1 Pleroma Criminal on XBL 🇵🇱|🇺🇸 likes this.