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Joined 11 months ago
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Cake day: December 4th, 2023

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  • All of my encounters with individuals who feel liberal arts are useless and STEM is the way seem to, at their core, feel that way because of earning potential

    You were saying a group of people believe that value as a person is determined by their contributions to STEM fields and finance.

    Now you’re saying that this group of people believe that value as a person is determined by earnings potential. Those are not the same things.












  • The 2008 crisis was a result of predatory lending practices and mortgage backed securities that were full of subprime mortgages and other toxic assets, and a burst real estate bubble. I don’t think it was a tech bubble like the dotcom bust.

    Enron claimed to have some vague new means of lowering costs, acquiring revenue, and making the line go up. It would have been transformative for the power industry if it wasn’t straight-up fraud.

    Well, they were gaming the rules in the California energy market. They were doing shit like causing blackouts so they could price gouge.





  • Tech bubbles come in two varieties: The ones that leave something behind, and the ones that leave nothing behind. Sometimes, it can be hard to guess what kind of bubble you’re living through until it pops and you find out the hard way.

    Contrast that bubble with, say, cryptocurrency/NFTs, or the complex financial derivatives that led up to the 2008 financial crisis. These crises left behind very little reusable residue.

    The 2008 financial crisis was not the result of a “tech” bubble.