Maybe not. Seems like many here are too young. I'm only in my early 30s and am already feeling deja vu. Life is strange.
https://en.wikipedia.org/wiki/Second_Industrial_Revolution
Accordingly, there's no reason to be investing in fluff like file sharing, app-based bike delivery, or "valuable" services like Shazam when there's real work to be done. In other words, the VC correction unfolding now is exactly that, a correction (long overdue, to my mind, and an unambiguously healthy thing). It will hurt a lot of overextended people to be sure, and unprofitable companies with dubious valuations that are laying people off now are wise to get ahead of the crunch.
As the squeeze tightens, salaries will even out, the balance of power will shift to employers, traffic may improve (slightly), and rents may even stop climbing. But 20-30% declines in the overall housing market? Dream on. Prices here are a function of a massive shortage, off-the-charts desirability, and deeply-rooted peculiarities in the tax code (Prop. 13), not Florida-style speculation. All of these factors are far more impervious to temporary downturns in the employment market.
Having lived through the dot.com crash, I can certainly hear echoes, but deja vu it isn't. The world is now a very different place.
hey sure there is a bubble there, but last time I checked BA wasn't caput mundi yet. Plenty non inflated startups do exist, even if not specifically there.
Where the whole economy is sustained by VC money, well, there's gonna hit the hardest. But doesn't seem that the whole IT world is following that model.