[benreesman]

Your point is taken about the macroeconomic situation (I'm not quite convicted enough to go short but it's a near thing, Q3 earnings are looking to be a shit show).

With that said, we've been through this before: companies always have leverage with many/most of their employees, and that is going even further up for awhile, but Google Search doesn't stay up without a meaningful number of people who have made enough money to not be pushed around.

This is the flip side of being one of the "CEO/VC class" and having a boom decade or two: most of the real pros made some serious money on stock and can't be herded like cattle the way new grads can be.

The American economy has become an experiment in how close you can get to indentured servitude for your working people without calling it that by twisting the macroeconomic knobs until the kid doesn't get medicine unless you hump that bullshit job. I'm sure the money guy who figures out how to do that to hardass infrastructure hackers or founder-caliber kids will be hailed as a hero (in private), but it hasn't happened yet alhamdulillah.