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Comment by PheonixPharts | Hacker News Reader

It was the 2nd largest decline in the history of the company (the largest was February) how is that not of intellectual interest? It got Jim Cramer, the person who popularized the term "FAANG" to cry on camera about how wrong he was. This signals a major change in the recent history of the tech industry (especially when combined with the other massive dips we've seen this week).

However I do think it got coverage today on the frontpage that OP might have missed.

But to the OP's larger point, it's bizarre to not see Musk on the front page.

My good faith assumption is that dang is simply trying to figure out how to consolidate countless new posts into a single one so as to not flood the front page with slight variations on the same story.

Nonetheless there has been increasing and silent censorship of relevant topics here and I think it at least deserves some sort of explanation in this case.

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> Jim Cramer

I don't come here to read about what Jim Cramer is doing. I don't care about that at all. If I did, I would just turn on my TV. I come here specifically because stuff like that is not here. Plenty of other websites also cover that type of content.

Not every website need to cover all the same stuff. Thats what used to make the web great, was niche sites and diversity of content.

I think you said it better than I did. It’s not tech news, or anything interesting. It’s financial news, which is inherently boring.

the initial announcement of Musks twitter offer and attendant gloating / revulsion got many thousands of comments and it is actually quite interesting that the terminal side of this giant event has come through HN like a whisper.

And HN, like CNBC, exists mainly as part of a giant financial hype machine which is interesting in the same way that gravity or death is interesting. The whole tech world revolves around the price of things - your attention, clicks, term sheets, RSUs, etc. Cramer is not below HN, you are not above Cramer just because you don't perform on camera. We are all part of this machine.

And yet it’s still boring, sorry. There’s nothing of inherent interest in this. Nothing with any substance about technology, science, or ideas. It’s a change in stock price. I would be interested if I owned shares, but I don’t.

Your theory about consolidating stories seems reasonable. But speculation about how HN works is also boring.

I must confess I am a bit of a stats nerd so when I see an 11-sigma event I consider it generally interesting, especially if the standard model for the underlying process is a normal distribution.

>the standard model for the underlying process is a normal distribution.

I don't think it is, though?

Meta's stock price is not interesting in any way. not even a little.

Can you speak for everyone on this matter?

how could I possibly speak for anyone but myself?

Christ, you "hackers" are thick.

Especially because, as best I can tell, stock prices are not related (any more?) to the quality of their backing companies, nor their engineers/tech; it's just what supply and demand of a bunch of funds and algo bots can trade back and forth

Most Meta employees are heavily compensated in stock. RSU's and options are what made the top-end of (US) software development so rich, and therefore pulled up the compensation of everyone else at every other level of that market. What effect will this have on compensation for everyone else?

I've never worked at Facebook, but looking at levels.fyi, a Facebook E5- between 4-15 years of experience, based on some other googling- would expect to make ~400k, ~half of that in stock compensation. The stock going down by 70% means that they are not getting the money that they thought they were. Are they going to start jumping ship to other companies? Is this going to flood the market with developers? Will the rest of the top-end of the software engineer market- who already got in trouble for colluding to try and keep down software engineer salaries[1]- lower their offers to match, with knock-on effects further up and down the market? As an American software developer, this matters to me, and I'd expect that a lot of other people would have opinions, rumors, and FUD to share on the topic.

[1]: https://en.wikipedia.org/wiki/High-Tech_Employee_Antitrust_L...

I'm pretty sure bytedance is in the process of taking facebook's place as the high offer talent poacher, which is a shame imo because they aren't an American company

Also (this might not apply to you if you already own a home), but in the Bay Area it's like SWE salaries are tied to the housing costs. At the end of the day, what's the point of that 400k if the housing market leeches off of all of the surplus?

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