I'm not going to shed any tears on behalf of anyone near the top, they're going to be fine. Despite their high positions, they won't have a fall, unlike those already at the bottom.
It's like saying my camera is better than yours because mine is 40 megapixels. The experts know that this comparison is wrong, but for the lay person, it's easy and quick to use it.
Regardless, the cooling off is engineered and necessary. The central bank created this "recession" (not yet? but probably soon regardless?) by raising interest rates extremely quickly because inflation is out of control, because globalized shipping has collapsed sufficiently that demand can't be met here or in most major economies.
With unemployment at 3.5% and dropping and hiring still going strong, wages rising faster than at any point in most of our lives, I'm personally not worried about what will hopefully be light and necessary recession, even if the "2 quarters of negative GDP growth" is a bunk line, cooling off the economy until the global supply chains can resolve is obviously the only solution to inflation.
The best way to fool yourself into thinking that the country is moving in the right direction is to look at money metrics such as wages, GDP, savings etc. They deteriorate in a matter of weeks when shit hits the fan, so they are only backwards looking.
The sad reality is that we are not using any new or novel products/services compared to 5 years ago. If you exclude the mRNA vaccines the pipeline of innovation is also empty.
Where will the next bump in quality of life come from? We are still milking the internet by making copies of apps and websites .
I'm sorry, but do you expect us to take this comment seriously? This is frankly absurd.
What? Deep Learning is measurably out-performing previous algorithms, and making falsifiable predictions.
And if you read HN and can't think of progress in the last five years, then you must be incredibly cynical.
If you'd care to quote the entire thing where I was telling you you cannot verify it unless you have enough "mana" (i.e. money) to try it, you would also see you have answered your own rebuttal with my original post.
> if you read HN and can't think of progress in the last five years, then you must be incredibly cynical.
Perhaps! But I don't see you refuting me in any way, so perhaps I'm just correct :)
I use deep learning all the time, every day, and the results are better than previous algorithms. I don't need to "verify" the results to know they're better.
> Perhaps! But I don't see you refuting me in any way, so perhaps I'm just correct :)
You're standing in the middle of a record store and complaining that there's no good new music, and then you think the problem is that I'm not enumerating examples to refute you?
If you can't find things to be impressed by on HN, then again, I think you're incredibly cynical.
Reading on HN means 99% of the times aspirational stuff. Aspirational stuff doesn't count.
What counts is stuff that improves quality of life in the real world, not just aspirationally sometimes in the future in order to play the musical chair game of the stock market or VC markets.
Stuff like mRNA vaccines.
An other example would be fracking but that largely happened 2005-2015
So which is it? Is HN filled with content showcasing the pipeline of innovation or not?
Improvements in farming and husbandry are also not being deployed as they're marginally more expensive, even though we critically need them.
The visibly good technologies exist and need to be deployed; due to lack of investment in them, cost is prohibitive.
Just because you haven't found some new gizmo to make your life easier in the past 5 years doesn't mean our entire society has stagnated.
Just because you think making webapps is milking the internet doesn't mean that software is trivial or can't be a force for good, a force for change, a force for innovation, or a force for making peoples lives better. Like why are you even here?
When I think about 5 years ago, I think basically 0 electric cars being sold. I think basically 0 electric charging network. I think basically 0 grid scale solar panel build out. 0 compared to today, at least. We are in the midst of the electric car revolution, the petrochemical refilling grid is being deprecated IN REAL TIME all around us, cars are having AI models updated OTA to achieve lv3 or 4 driver assistance or even to drive themselves.
Where's the innovation?? Open your eyes!!
I don't want to discuss, I want to use. Aspirational stuff doesn't improve the quality of life of anybody. It's the equivalent of small talk
> I think basically 0 electric cars being sold. I think basically 0 electric charging network. I think basically 0 grid scale solar panel build out. 0 compared to today, at least. We are in the midst of the electric car revolution, the petrochemical refilling grid is being deprecated IN REAL TIME all around us, cars are having AI models updated OTA to achieve lv3 or 4 driver assistance or even to drive themselves.
That stuff is not for us, it's for people who'd be alive 150 years from now. All the energy transition stuff won't improve our lives one bit, it just prolongs the churn rate of the planet. It's like when AiBnB raises the cleaning fee 1000% and unluckily you are the first client ever to have to pay it. It doesn't add anything to your experience and your staying at the venue. It's a cost, hence it's a minus, not a plus.
mRNA is an example of stuff that it's for us. Matter of fact I have it in me right now and I suppose so do you
> Like why are you even here?
I mean...somebody is being aggressive for no reason. I think making tons of money with software and copying app or by playing the poker game of founding>raising>exiting is nice and all. But at the end of the day making money is just step #1, you still need to have something worthy to buy with that money once you leave the poker table.
That's why Vegas has tons of venues, resturants and nightclubs and stripclubs in the proximity of poker tables. Without all the amenities Vegas would not be different than Oklahoma's Poker scene
Come on. This is flagrantly the same level of truth-adjustment that the Trump administration was accused of doing.
Just because you have to sell the jet ski and the SUV and might have to sell both houses because you over-leveraged trying to leech off of the rest of the working class doesn't mean you're being hurt more than the single mothers with two minimum wage jobs that are now homeless.
These days it's getting ever harder to pull it off, if not impossible. Mostly because housing market jumped the shark.
Selling assets can be a problem anyway since many of them actually depreciate hard. Jet ski and old fuel guzzling SUV likely nobody will want. The house, maybe, but it will get ever harder to sell them as buyers are starved of money and credit.