2001 was a Dot Com collapse. 2008 was a banking collapse that hit IT too. This year first it was the Tech companies and now its the Banking, Financial Sector that is getting hit, making it the worst of all recessions. And its expected to get worse with Fed likely to hike up interest rates.
Its like this year we are having the worst of both 2001 and 2008.
The rate at which the world is changing is pretty insane. Just one mis-step and you'll lose your entire generational wealth.
Adding to it the current global downturn due to war and American Feds hiking rates is really messing things up.
Not a finance expert, but American economy should not have this much impact on the entire global economy. We seriously need to de-dollarize economies.
Sadly with more than 80% of global trade is happening via SWIFT and dollar, things don't seem to be changing anytime soon.
Not just Dollar, even Big Tech is having too disproportionate influence on Tech, literally dictating terms , arm twisting Governments, businesses. They sneeze, the Tech World gets a cold.
Tech companies got insane valuation during 0% interest rate era. It's correction time, valuation multiples have come down, and to justify that, they need to fire. Till now tech companies felt the market correction, I guess now the banking system in States is under lot of stress.
Let's see what happens next! But i agree we're kind of getting worst of both the worlds
Were you living under a rock?
Indian Banking and Financial services market is very tightly regulated so the impact is very low although yes the dependence on dollar and US economy needs to go down.
With the Russian initiative of trading in local currency,other currencies like rupee would be a stronger player in the coming years
What goes up too fast must come down
Here is the way it happens Fed in USA will increase interest rates to tame inflation. VCs will have to generate greater returns, because USA bonds give better return than most of the bets they’re going to make. Half of the portfolio com...
Talked to the son of my Dad's friend recently. Brilliant kid has a good GPA from IIIT-H + 2 research internships and 1 summer internship at good companies. He still can't find a "good" company to get into. (Side Note: "good" implies a ...
class of 2009 says "hold. my beer" at least in India there is GDP growth.. hope is situation will turn now. 2009 was ...
I am from 2023 batch, we are not getting good opportunities the thing is either we have to compromise with the pay or...
The economy went down? Yes. Did it affect all kinds of companies? Yes
Did the banks fire any one? No Did the Railways fire anyone? No Did the media agencies fire anyone? No
Did Large Tech companies and IT fire people? Absolute...
Not the way it works. It's a function of how fast an industry grows -> The faster it is, the more you have to hire i...
Looks like people have taken offense to this post and want to continue to protect their tech overlords