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The soft retail market and other possible indicators of an economic bubble, particularly in tech - Page 2

post #16 of 88

Housing and real estate is up because there is a lot of international wealth investing and laundering money into the US and inflating the real estate market prices astronomically, knowing 99.9% of the people in the US can't afford in order to build their portfolio. Here's Supermodel Gigi Hadid's father - http://www.latimes.com/local/lanow/la-me-ln-developer-mohamed-hadid-bel-air-mansion-20151214-story.html - He essentially creates tax shells for himself and some of the wealthiest people in the world and develops property for them, like $60m mansions in an area where housing is a tiny fraction of that, but eventually pricing the neighbors out of their area. Not only are Mom & Pop shops unable to pay their rental space, corporate businesses like FedEx are being driven out of their spaces in these neighborhoods. This is happening all over LA, SF, and NYC where you would need to make roughly $150-$225k a year in order to comfortably live in a 2 bedroom apartment rental. 

 

I'm sure its like the Tech industry where some analyst or hedge fund dip shit finds a trendy new app or product and creates some magical valuation out of his ass forcing the rest of the industry to follow suit. 

post #17 of 88
Sure there's BS in tech or startups like any other industry, but knee-jerk reactions that people in tech don't actually create anything meaningful are pretty funny.
post #18 of 88
Thread Starter 
Quote:
Originally Posted by cyc wid it View Post

To be fair, the old Rolex triple calendars and chronographs are painfully more beautiful than anything they're making today.

Yet, it's the ones that look essentially the same as the modern versions that command huge prices. I agree about the really old references. I'd love to see a Cellini annual calendar chronograph based off one of the older Rolex references.
post #19 of 88

A couple of interesting random pieces in the East Dane sale.  Not sure if they're new marks or not, but a few good deals.

 

Quote:

Originally Posted by cyc wid it View Post


To be fair, the old Rolex triple calendars and chronographs are painfully more beautiful than anything they're making today.

 

I have to give Rolex credit because they've not messed about too much with some of their styles over time.  That said I think that every single one has a better older reference than the current incarnation.  The problem though is that in some cases the older references cost notably more (which of course isn't a surprise). 

post #20 of 88

Can't wait for the global economic meltdown... once bullets become the primary currency, Common Projects will finally design a gun holster I can wear without feeling like a hillbilly. 

post #21 of 88
Quote:
Originally Posted by cyc wid it View Post

Sure there's BS in tech or startups like any other industry, but knee-jerk reactions that people in tech don't actually create anything meaningful are pretty funny.

Well, true, but:

1) Some of the ideas are astronomically stupid.

2) Some of the astronomically stupid ideas have copycats (wtf?)

3) A lot of people in tech have a highly inflated idea of their vaue to the world, moreso than in other industries.

 

I mean, there is a lot of cool stuff going on as well, but there are a lot of stupid things.  I would wager decent money on it that because of the nature of tech startups, that there is a statistically significantly higher number of really dumb (funded) ideas in tech.

post #22 of 88
Quote:
Originally Posted by LA Guy View Post
 

Well, true, but:

1) Some of the ideas are astronomically stupid.

2) Some of the astronomically stupid ideas have copycats (wtf?)

3) A lot of people in tech have a highly inflated idea of their vaue to the world, moreso than in other industries.

 

 

 

Case and point:

 

 

I worked with a girl two years back who was ecstatic about the early success of her sorority sister's boyfriend's startup: designing pocket squares that had actual pockets in them. 

 

When I asked "Why?" she had no answer. 

post #23 of 88
@cyc wid it have you seen silicon valley on hbo ? Thomas Middleditch once said that he's been approached by tech guys in the bay area who told him they can't watch the show because it makes them nervous as it's too realistic. i wonder what you tech dudes here think

also, LA Guy, we've had a billion posts on this and not been squirreled off into the abyss of a new thread that nobody will go to after 20 minutes. what gives !
post #24 of 88
I haven't seen it.

Y'all got some weird ideas of what constitutes a "tech startup". Crowdfunding or selling things online does not a tech startup make.
post #25 of 88
Quote:
Originally Posted by the shah View Post

@cyc wid it have you seen silicon valley on hbo ? Thomas Middleditch once said that he's been approached by tech guys in the bay area who told him they can't watch the show because it makes them nervous as it's too realistic. i wonder what you tech dudes here think

also, LA Guy, we've had a billion posts on this and not been squirreled off into the abyss of a new thread that nobody will go to after 20 minutes. what gives !

I know people who say the same thing
post #26 of 88
Quote:
Originally Posted by the shah View Post

@cyc wid it have you seen silicon valley on hbo ? Thomas Middleditch once said that he's been approached by tech guys in the bay area who told him they can't watch the show because it makes them nervous as it's too realistic. i wonder what you tech dudes here think

also, LA Guy, we've had a billion posts on this and not been squirreled off into the abyss of a new thread that nobody will go to after 20 minutes. what gives !

lol.  You beat me to it.  I was just about to do just that.  You're so prescient. Gimme a sec to think of a lame new name for the thread.

post #27 of 88
post #28 of 88
Thread Starter 
We've been pruned!
post #29 of 88
Quote:
Originally Posted by scanner View Post

Housing and real estate is up because there is a lot of international wealth investing and laundering money into the US and inflating the real estate market prices astronomically, knowing 99.9% of the people in the US can't afford in order to build their portfolio. Here's Supermodel Gigi Hadid's father - http://www.latimes.com/local/lanow/la-me-ln-developer-mohamed-hadid-bel-air-mansion-20151214-story.html - He essentially creates tax shells for himself and some of the wealthiest people in the world and develops property for them, like $60m mansions in an area where housing is a tiny fraction of that, but eventually pricing the neighbors out of their area. Not only are Mom & Pop shops unable to pay their rental space, corporate businesses like FedEx are being driven out of their spaces in these neighborhoods. This is happening all over LA, SF, and NYC where you would need to make roughly $150-$225k a year in order to comfortably live in a 2 bedroom apartment rental. 

I'm sure its like the Tech industry where some analyst or hedge fund dip shit finds a trendy new app or product and creates some magical valuation out of his ass forcing the rest of the industry to follow suit. 

Just to be clear, housing is only a function of foreign money in certain markets. But by and large, housing has been a function of easy money for the last 7 years. Monetary policy in the United States (and abroad) is decimating people who save cash and rewarding people with risk based assets (stocks, cars, art, housing, etc.).

Cheap money means people can buy far more house with a fairly low monthly mortgage. Go try and buy a house. See what kind of luck you have in this market.
post #30 of 88
Quote:
Originally Posted by LA Guy View Post

lol.  You beat me to it.  I was just about to do just that.  You're so prescient. Gimme a sec to think of a lame new name for the thread.

do you say that because of my internet IQ score ?
Quote:
Originally Posted by t3hg0suazn View Post

I know people who say the same thing

are these people in the tech industry or people who heard Middleditch's comments ?

Also, does this mean I should not try to transfer laterally in the tech industry now if there's a massive bubble about to burst ?
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