Re:Electrical engineers on the brink of extinction threaten ...
by Apocryphon on Monday July 18, 2022 @07:30PM
(#32145498)
> It makes no sense. Why is web software so easy to make money in? Why do we value hard engineering so little?
ZIRP, and the VC ecosystem, FAANG stock bubble, EBITDA-creative accounted IPOs, etc. that grew up around it, are a helluva an alphabet soup:
> why do companies do mental gymnastics to call themselves a tech company. It’s because venture as an asset class traditionally invested in technology because that is what presented the growth and return characteristics that matched their risk profile. So you try to call a desk rental or mattress seller a tech company.
> Then, for the companies that attracted the money had to spend it. Salaries inflate. Cultures change. Consumers are subsidized. Sure, some technology is created, but overall, nothing operates as it would without that thirsty capital. It changes the economics for competitors that do not welcome in the dollars.
ZIRP, and the VC ecosystem, FAANG stock bubble, EBITDA-creative accounted IPOs, etc. that grew up around it, are a helluva an alphabet soup:
> why do companies do mental gymnastics to call themselves a tech company. It’s because venture as an asset class traditionally invested in technology because that is what presented the growth and return characteristics that matched their risk profile. So you try to call a desk rental or mattress seller a tech company.
> Then, for the companies that attracted the money had to spend it. Salaries inflate. Cultures change. Consumers are subsidized. Sure, some technology is created, but overall, nothing operates as it would without that thirsty capital. It changes the economics for competitors that do not welcome in the dollars.
https://www.readmargins.com/p/zirp-explains-the-world