“”Our survey of GSB alumni identified large valuations of zero-revenue businesses as the most…”
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“Our survey of GSB alumni identified large valuations of zero-revenue businesses as the most concerning observation in the tech sector today. Perhaps these concerns stem from scars caused by the dotcom bust that these alumni lived through shortly after graduating; when companies went bankrupt in flocks as funding dried up and negligible revenues had no chance of supporting hefty operating costs.
The tech sector has had a remarkable run in the last 14 years. Nearly every business leader and investor we interviewed anticipates some kind of correction in the next 2 to 3 years”
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Subprime loans are making a comeback, and it’s a disaster
Subprime loans are making a comeback, and it’s a disaster:
“But if houses don’t become cheaper and wages don’t rise, what is actually achieved by making it easier for people to go into debt to buy them?”
A: Inflation! Making bankers richer! The totally foreseeable detonation of the worldwide economy!
Oh wait…. is this one of those rhetorical questions?
“”The legacy of the Great Recession of 2008 has yet to be fully processed. But one of its most…”
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“The legacy of the Great Recession of 2008 has yet to be fully processed. But one of its most lasting impacts will no doubt stem from the fact that many college students and recent graduates—people who were just starting to build the careers and financial autonomy that would have allowed us “adult” lives—were suddenly faced with an economy in which getting a steady job was unlikely. Even if you were privileged or lucky enough to be able to afford a college education, companies’ increasing reliance on unpaid internships meant that building a career was a matter of being able to work for free after you graduated: Increasingly, only the children of the very wealthy were able to make the choices and secure the entry-level jobs that might lead to “adult” autonomy down the line. As a result, we saved money by living with our parents far longer than previous generations. The financial expense of a wedding—or the responsibility of asking another person to rely on you for the rest of their life—was not something one could reasonably embrace, if one were uncertain about making rent or having a job in six months’ time. Similarly, providing for a child was laughable if you couldn’t even reliably provide for yourself. And buying a house? In today’s market? Forget it.
“My generation didn’t choose childhood. Childhood chose us, or rather, it refused to let us go. We stayed adolescent because post-adolescent responsibilities were never granted to us. We were trapped in Neverland, and sooner or later, we resigned ourselves to just having fun.”
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“But if houses don’t become cheaper and wages don’t rise, what is actually achieved by…”
“”But if houses don’t become cheaper and wages don’t rise, what is actually achieved by making it easier for people to go into debt to buy them?””
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A: Inflation! Making bankers richer! The totally foreseeable detonation of the worldwide economy!
Oh wait…. is this one of those rhetorical questions?