Hacker News Reader

>Imo people can create as many shitty photo-sharing apps as they want if this means not fucking up the world's financial system.

So quickly we forget that it wasn't long ago what were essentially "shitty photo-sharing apps", and the hype behind them, crashed the financial system.

View on HN

I don't think that the apps themselves crashed the system. The greedy investors on the other hand did because the speculation on the app's valuation was completely wrong.

In the same sense "greedy" investors incorrectly speculated on the securities valuations, leading to an increase in price and lowering of underwriting standards in order to meet the increased demand. The actual products themselves were neither good or bad but just overvalued.

Reply on news.ycombinator.com