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post #31 of 88
I have a cousin who is in the mortgage business, also a pseudo-tech company because, well, they develop a lot of software too that goes along with their main product which is signing people up for decades of repayments. He's already seeing garbage mortgages being bundled with good ones and sold as commodities (not his company's, they only apparently pre-approve people and based on realistic assessments -- not 5 condos for a bus boy at Wendy's or whatever). This sounds awfully familiar ...
post #32 of 88

People in the tech industry or closely acquainted with it. Don't think any heard about Middleditch's comment but some actually have told me they don't watch the show because it's too real

post #33 of 88
Quote:
Originally Posted by t3hg0suazn View Post
 

People in the tech industry or closely acquainted with it. Don't think any heard about Middleditch's comment but some actually have told me they don't watch the show because it's too real

I am not actually in "tech", or at very most, my business interests are on the periphery of tech, but enough so that I deal with the tech industry on a nearly daily basis, and I refuse to watch the show.  That said, people have often refused to watch movies and television that is too close to home.  There is at least one FBI bureau chief who hates to talk about his work and who apparently limits his tv watching to art house stuff his wife likes, and romantic comedies.

 

I am not sure that this is so much an indicator of anything other than that certain industries and professions are particularly stressful, and who really wants to play out that stress again, for entertainment?  Tech is stressful because it moves fast.  You can't coast.  It's what makes it exciting, but it also makes it stressful.  Certainly, this is not nearly as inherently stressful as being responsible for people's safety, or dealing with a disporportionately violent population all day (I know a lot of prison guards). I certainly haven't heard any of the other issues that seem to correlate with these high stress professions - domestic violence, high divorce rates, high rates of chemical dependency -  being associated with tech.  But there may be just enough stress to make people not want to relive their lives onscreen.

post #34 of 88
Quote:
Originally Posted by the shah View Post

I have a cousin who is in the mortgage business, also a pseudo-tech company because, well, they develop a lot of software too that goes along with their main product which is signing people up for decades of repayments. He's already seeing garbage mortgages being bundled with good ones and sold as commodities (not his company's, they only apparently pre-approve people and based on realistic assessments -- not 5 condos for a bus boy at Wendy's or whatever). This sounds awfully familiar ...

history repeats itself.

post #35 of 88
Quote:
Originally Posted by vodkaislove View Post
 

history repeats itself.

It doesn't, is the problem.  Things are always different enough that people can convince themselves of a different outcome other than "things go directly to shit".

post #36 of 88
Quote:
Originally Posted by LA Guy View Post
 

It doesn't, is the problem.  Things are always different enough that people can convince themselves of a different outcome other than "things go directly to shit".

That's correct, the situation will be different next time around, but the principle stays the same. Bank makes risky investment that backfires and fails pay their obligation as the result 


Edited by vodkaislove - 5/24/16 at 6:31pm
post #37 of 88
Scary shit.
post #38 of 88
Quote:
Originally Posted by the shah View Post

do you say that because of my internet IQ score ?
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 ?

I took that a few times, and raised my IQ from 135 (bright, but not a genius) to 155, which is where it should be at.  

 

There are different ways of transfering laterally.  I would probably not go to an early stage startup though.  At least at an enterprise company, if you get fired, you'll know that it's because they hate you more than they hate other people, not because they've simply run out of runway.  I supposethat the founders could write you a nice long letter while they are in the unemployment benefits office as well.

post #39 of 88
Lol n00b
my score was first try while i was also doing other work cool.gif

(I am pretty sure it has to involve a random number generator within some wide interval!? these questions can't be actual IQ test material, iT must come from standardized tests high school kids should be taking)
Edited by the shah - 5/24/16 at 6:53pm
post #40 of 88
So I recently watched the big short, and this weekend saw money monster (basically a 2 hour anti-trump pro-Bernie ad), and have been reading flash boys. The book is the best of the three, thought the first movie is based on the same author's work. It's pretty interesting stuff, especially since I know a handful of engineers who, after getting their doctorates, jumped into the hellish recesses of dark pools at GS and JPMorgan devil.gif

We gotta get @skittles in this thread too
post #41 of 88
Quote:
Originally Posted by the shah View Post

So I recently watched the big short, and this weekend saw money monster (basically a 2 hour anti-trump pro-Bernie ad), and have been reading flash boys. The book is the best of the three, thought the first movie is based on the same author's work. It's pretty interesting stuff, especially since I know a handful of engineers who, after getting their doctorates, jumped into the hellish recesses of dark pools at GS and JPMorgan devil.gif

We gotta get @skittles in this thread too

If you are interested in the quantitative stuff, and don't mind half-insane #OWS in 2016 level left-leaning rants thrown in for good measure, I would recommend a friend's blog: https://mathbabe.org/

 

She is really very smart (I think that she would probably score higher on the IQ test than either of us, if it as least relatively accurate), and gives some good overviews about data science and the state of data science, banking, etc.. None of it is impartially presented, though much of it is objectively presented.

post #42 of 88

I remember her from Slate Money podcast, back when I used to listen!

post #43 of 88
Is soft retail a leading indicator? My thinking was always that retail spending was not predictive.

In '08, you didn't see the massive sales until November, after the market had already crapped out and the bailouts, TARP, etc. were happening. The mortgage market was getting bad in early '07. Mortgage related companies started to tumble then. Banks didn't start to blow out until early '08 (Bear Stearns), Lehman not til the summer, Merrill the fall.
post #44 of 88
Quote:
Originally Posted by deepitm View Post

Is soft retail a leading indicator? My thinking was always that retail spending was not predictive.

In '08, you didn't see the massive sales until November, after the market had already crapped out and the bailouts, TARP, etc. were happening. The mortgage market was getting bad in early '07. Mortgage related companies started to tumble then. Banks didn't start to blow out until early '08 (Bear Stearns), Lehman not til the summer, Merrill the fall.

I think that's not an indicator of an overall fallout, but it is an indicator that people are not particularly confident in the economy.

post #45 of 88
Quote:
Originally Posted by cyc wid it View Post

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.


Glad someone else lol'd at the idea that selling shirts or pocket squares online instantly made you a "tech" startup.
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