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A comment on Lyft laying off 13% of staff. Parent comment

Re:Lyft laying off 13% of staff by somenameforme on Thursday November 03, 2022 @02:21PM (#33455181)
I would argue that this is not because it was difficult to see coming, but because most people have a bias that makes it difficult for them to imagine something that's "normal" abruptly coming to an end. This was the era of "I got a loan for this house in 10 minutes. I added granite counter tops, mopped the floor, and sold it for a $20k profit in 9 days." type shows.

TV is TV, but that was genuinely happening. The market was just completely broken.

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Re:Lyft laying off 13% of staff by kerbs on Thursday November 03, 2022 @03:22PM (#33456046)
The part of the housing crash that I was inferring was hidden to most was how deep the credit markets were tied up in housing, to the point where a housing bust meant banks collapsed and all money was frozen.

I was young(ish) at the time, but I imagine some knew housing wasn't sustainable. I'm not sure there were many outside the stars of The Big Short quite knew how vulnerable the entire banking system was because of housing before it all came down.

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