[mjburgess]

Programmers provide high economic multipliers on business activity and are typically in a good position to extract a proportionate reward for doing so.

If we kill off that group of people earning 300k+ in unproductive businesses, all the better. I'd prefer that money be invested in more productive tech, and i'd suppose would generally raise salaries -- since atm, ex hypoth., it is just being burnt

[jrsj]

I'd definitely prefer this outcome but I have a feeling we're going to go right back to where we were before as soon as interest rates come back down. Big tech starts aggressively overstaffing again while VCs pour money into mostly useless garbage. I've been doing this for awhile now, mostly in the startup space, and I'm not even sure if VCs care if there's even a viable business there. It often feels like a legal way of running what effectively amounts to a ponzi.

[mjburgess]

sure, SPAC IPO = dump part of pump & dump

However, just as ponzi in fiance was culturally and legally pushed out --- i'd imagine it will now in tech.

I suspect regulation and cultural scepticism will arise which secures the next two or three decades against this, 'as a rule'

[knighthack]

How do you define "unproductive businesses"?