Are we living in our own bubble? The rest of the economy seems to be crashing hard

New
SoftwareFT

New

SoftwareFT
Mar 18, 2020 25 Comments

Everyone here seems to be pretty confident about the market, about the economy despite all the red flags.
I have been talking around and now it seems that outside of Silicon Valley, things are royally blowing up.

One of my friends works in corp dev for a Las Vegas based hotel business, and he was telling me that they are in complete dire straits. They literally go bankrupt in weeks if things continue as is.

Also, hearing stuff from other "finance" people about how they are in complete meltdown (similar to 2008, no one knows who holds loans to Energy and travel companies, don't want to lend to each other).

I am now getting really scared. I think tech is in a better spot, but no way this doesn't impact us.

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TOP 25 Comments
  • Oracle
    alwzangry

    Go to company page Oracle

    alwzangry
    Everyone "here" maybe too young. This is worse than 9/11 and 2008 crisis. How much worse? Probably twice as much if not more. Previous crashes were due to weaknesses in the tech bubble and then in the financial industry and housing. This time, everything will get destroyed. Nothing is safe.
    Mar 18, 2020 11
  • E*Trade / Finance
    cbEV72

    Go to company page E*Trade Finance

    cbEV72
    We’re having record volumes of trade. If it wasn’t for zero fees we’d be making a lot more on the trades now
    Mar 18, 2020 5
  • Yes people who dont have the luxury of wfh, small businesses in the service industry, hourly jobs. Its all getting fucked up and our economy is grinding to a halt. Keep in mind we are also in debt up to our eyeballs and you have the biggest deleveraging of our lifetimes
    Mar 18, 2020 1
  • eBay
    🦠fckdMy409

    Go to company page eBay

    🦠fckdMy409
    Hotels/Banks/Airlines are getting bailout money very early, unlike 2008. And ofc some will go bankrupt, but the industry will come back - and quickly once we get some clarity on this pandemic.
    Mar 18, 2020 3
  • There is absolutely no way this quarantine and social distancing can go on for months. There will be mass unrest if people aren’t able to work and so many people will just take the risk of getting sick
    Mar 18, 2020 0