Well I hope he's right, because I would love for it to be easier to hire good engineers, but there's a bit too much unsubstantiated hyperbole here. Specifically, why in the world would this be worse than the fallout from the first dot-com bubble with its explosion of ill-advised IPOs? Today there are a whole lot more people with more actual skills employed by startups with much smaller amounts of investment, and much more mature markets at play.
Is it going to sink the economy that a lot of 22-year-old kids came out to the valley and naively blew through 200k of angel money building an instagram clone? No more so than the tens of thousands wannabe actors waiting tables in LA.
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Well I hope he's right, because I would love for it to be easier to hire good engineers, but there's a bit too much unsubstantiated hyperbole here. Specifically, why in the world would this be worse than the fallout from the first dot-com bubble with its explosion of ill-advised IPOs? Today there are a whole lot more people with more actual skills employed by startups with much smaller amounts of investment, and much more mature markets at play.
Is it going to sink the economy that a lot of 22-year-old kids came out to the valley and naively blew through 200k of angel money building an instagram clone? No more so than the tens of thousands wannabe actors waiting tables in LA.