[Quarrel]

I agree that it feels more like 2000 in some ways. Certainly the crypto space was just as bubble-icious.

2008 when the crunch came it was super bad. Tech companies just froze their product plans. Stopped spending money. Lots of good startups failed through very little fault of their own, when they couldn't ride out the year or two before their customers would spend again.

In 2001 I founded a VC funded startup, and while it was a shit time to be raising money, it was a great time to be hiring. I think we could get to that position again this year. Right now it doesn't feel like good engineers are really struggling to find work though, while in 2001 that was definitely the case, and VCs are definitely getting more cautious.

In 2008 I had the sale of that business fall through as a major SV tech company's CFO said "Nope, we're just not spending any money on anything" after lots of work and terms being sorted out etc. People (CEOs & CFOs) were really scared about contagion and problems well beyond just "tech share are prices falling". I hope we don't get to that point again this time.