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73 Comments
- Jocose, on 11/16/2008, -3/+19I'm not wearing any pants
- Pinkertinkle, on 11/16/2008, -2/+18Nothing can hide from the economic crisis
- smackydoodle, on 11/16/2008, -2/+17I hope, that when you're old enough to get a job and have a family depending on you for food and home, that you get laid off too.
- FreddieD, on 11/16/2008, -0/+15Sun is laying off people because most of the tech industry woke up one morning and realized that they could buy server equipment from other vendors with linux and get the same reliability for about 1/10th the price. They really haven't evolved much on the hardware side in the last 10 years, and the rest of the world has.
- mycoplasma, on 11/16/2008, -0/+13In other news, Congress is giving another $50 billion to AIG while ignoring the needs of industries that actually make stuff.
- deadbaby, on 11/16/2008, -0/+12It was only a matter of time. Most of the traditional tech companies will probably be fine. The world still needs CPUs, servers, etc -- just not as many and not as often. It's the companies who were already struggling that should be worried. AMD for example. There will probably be a lot of mergers over the next year and I suspect Apple, Google and Microsoft will be the ones picking up the pieces since they have so much cash on hand.
As far as online tech companies go... it could get ugly. The whole industry is built on fairy dust. There are so many sites that will never make money relying on VC dollars to stay afloat. Eventually those dollars are going to run out and these companies will either be bought, close their doors or make a last ditch effort to commercialize their services. It wouldn't surprise me to see some major sites start flirting with subscription models again. - cowsgonemadd3, on 11/16/2008, -0/+10In other news AIG goes on a business trip and rents out a large hotel for 343,000 bucks.
- angryfirelord, on 11/16/2008, -2/+12I'd say this is a lot worse than the dot-com bubble because now you have basic essentials like food and housing being threatened. That's causing a lot of people to cut back, which is creating this deflationary situation.
The best thing anyone can do is hold on tight and look for good investment opportunities. Since bailouts are going to be approved all over the place under an Obama administration & a Democratic Congress, expect any company that mines precious metals to do well since the dollar will get crushed. Energy companies are also expect to perform well since more and more people are looking to get off-the-grid.
Fortunately, since tech is such a demanded field, I don't see it sinking as bad as the auto industry, but you never know at this point. - divinediva, on 11/15/2008, -0/+9It is likely that some of these funds will go toward acquiring struggling competitors.
- cubicledrone, on 11/16/2008, -2/+9Because executives believe they are entitled to profits while simultaneously insisting that workers are not entitled to jobs. This is what you get for working weekends for two years, never getting a raise and being hired at 1972 wages.
- theaverageidiot, on 11/16/2008, -0/+7"40 more we are looking for"?
YODA? - UsedToBeRed, on 11/16/2008, -1/+8I guess I'm going to have to start hunting/fishing for food.
- SemiSarcastic, on 11/16/2008, -0/+6Soooo...Who wants cake and ice cream!?
- linagee, on 11/16/2008, -0/+6Because USA makes hardware? Not. If anything this means higher prices for hardware. There's usually some sort of discount for buying in bulk. Because you supplier will no longer be able to buy in bulk because of lower demand, he will have to pay more and the costs gets passed onto you, the consumer.
- deadbaby, on 11/16/2008, -0/+6I'm not sure which world you live in where young people don't consume. In my world the buy cars, iPods, video games, TVs, DVDs, etc. They spend instead of saving for retirement because most of them don't expect to be able to retire. Looking at the ever increasing cost of health care (and the scams HMOs use to duck coverage) it's also likely most of us won't be getting adequate medical care when we get older anyway. I think this generation has a pretty hopeless view of the future for the most part and their spending habits show it. Live for today because tomorrow you'll be dead.
- cubicledrone, on 11/16/2008, -0/+5All I know is when Clinton was president, I had a job.
- belzner, on 11/16/2008, -0/+5My 401K certainly cares what the stock market does. Does that make me a part of the system? Am I THE MAN because I care about having some money for retirement. Do you have a job where your family depends on you and your income?
I have investment in stocks (among other investments) through my company because my they match up to 4% of what I put in. How often do you reject money that's handed to you?
Lay off the bongwater and grow up, you idealistic child. - m00nmaster, on 11/16/2008, -0/+5HP is laying off 24,000. Take your pick.
- m00nmaster, on 11/16/2008, -1/+6But...we need it to conduct our business...there isn't ANY other way!!!
- Olfster, on 11/16/2008, -0/+3It just keeps getting sicker doesn't it? Isn't AIG the model that we now must look out for when it comes to businesses being too large or having too much of a hold on the economy of the United States? Shouldn't AIG just be 100% nationalized by now?
- natenovs, on 11/16/2008, -0/+3and Microsoft's server line really under cut Sun's stuff. There's no doubt ths recession has hurt Sun, but they were in trouble before this all happened.
- fokov, on 11/16/2008, -0/+3Question: Why is the dollar going to completely collapse or just fall when even yourself predict deflation? I understand the world is coming together to inflate themselves out of the debt that is owed, but why is that going to cause deflation over the long term? To me it doesn't make sense. We will have some deflation in industries that are expendable, but the 'money' itself will be inflated to extreme highs to cover the 50 trillion that the American institutions owe.
Metals will rise because people are pumping their money into them. I'm actually going to be putting a decent amount of my money in them as well as picking companies that can survive this crisis. That or just spend it all since it isn't going to be worth that much in 2-3 years. - brandita, on 11/16/2008, -0/+3*POP*
- Ratteler, on 11/16/2008, -0/+3Let's see... you build DRM into every device, and suddenly people hold on to their OLD devices longer.
THE CUSTOMER IS ALWAYS RIGHTS!!!!! NOT YOU'RE STRATEGIC BUSINESS PARTNER!!!
Those building what consumers want will do well... the rest... WILL BE ***** BAILED OUT BY THE GOVERNMENT?!?!?!?!?
God I hope not. - jbella, on 11/16/2008, -0/+3Obama sheeple?
Oh.. you must be talking about the MAJORITY OF AMERICA.
Seriously. Time to grow up. This whole "your candidate will destroy our country and way of life" thing is incredibly naive and just plain wrong. - TheGuruStud, on 11/16/2008, -2/+5That's what her boob said!
- NicoNicoNico, on 11/16/2008, -1/+4The problem is people are greedy. It's a sad fact, but true. Many people feel they have to make up for those greedy people. And they don't have the money.
I, for one, would buy stock if I had the money. I don't because I'm a disabled college student. - jbella, on 11/16/2008, -0/+3huh?
- ssjtoma, on 11/16/2008, -0/+2well isn't that just the perfect time to graduate with a computer science major.... sigh
- Olfster, on 11/16/2008, -0/+2Mr. Banker wants to know if he will be able to get both? If not he doesn't want to be participate anymore.
- AlexanderBlue, on 11/16/2008, -0/+2I work for a small firm IT Training firm, and business took a nosedive in October.
I've been forcasting a decline for months, but I didn't think it would hit us so hard and quickly.
< /me also crosses fingers... and will be working my ass off through the end of the year> - cowsgonemadd3, on 11/16/2008, -0/+2Big fluff the economy was,down it must go.
- archer75, on 11/16/2008, -0/+2I fear I could lose my job any day now as a result. Anyone want to hire me?
- tylerjwilk, on 11/16/2008, -0/+2I work in a small web development / media company and even we have seen a huge hit and recently laid off a decent portion of our employees. I'm hoping myself and no one else in the dev department gets the axe
< /me crosses fingers > - BradHAWK, on 11/16/2008, -1/+3My 401K is happy that the market is down, because I'm not retiring for awhile - right now I'm working and contributing, which means that I'm buying at a discount.
I'm not at all happy for those who are currently withdrawing from their 401K's, but for those who are contributing, lower prices are a good thing. - inactive, on 11/16/2008, -0/+2I'm thinking about becoming a gay prostitute. There is always a market for it and you can easily adjust your prices accordingly.
- inactive, on 11/16/2008, -0/+1Cool. My company sells hunting equipment and our sales are going crazy!
- jbella, on 11/16/2008, -0/+1@Crazyhorse
Like it or not, that is how we elect our leaders in this country. People vote for a candidate for a variety of reasons. I know some republicans that voted for Obama even though they didn't necessarily agree with most of his policy proposals, but felt that he had a better temperament to lead us through a time of crisis.
Calling people sheep just because they did not vote the way you wanted them to is just plain silly. It's like teenagers who eat up the idea that they are non-conformists, yet they look and act like most every other teenager around them. - rowlodge, on 11/16/2008, -0/+1"silicon valley" all over again.
- Olfster, on 11/16/2008, -0/+1Mr. Amused, the majority of America voted against the idiot that still has 60+ days in office. The idiot that, over the last eight years, had every opportunity, given a republican congress, to make a better America. What went wrong? Ohh, trickle down economics huh? The only thing that trickled down, onto the heads of the middle class, over the last eight years was the piss from the wealthiest of Americans, who walked away, and continue to walk away, with pockets full of cash. Cash of the soon to be retired middle class at that.
- Olfster, on 11/16/2008, -0/+1Damn, it is rough out there isn't it?
- angryfirelord, on 11/16/2008, -0/+1I agree. I just thought that after the Ron Paul barrage on digg it would be more obvious. :-) I meant to say that we're experiencing deflation now because everyone is pulling cash out of the market, but in the future mining companies that deal with gold, silver, and other precious metals are going to do well because of the resulting hyperinflation on the dollar that's soon to come.
Either way, we're screwed. - Olfster, on 11/16/2008, -0/+1Very good points.
- AlexanderBlue, on 11/16/2008, -0/+1While I agree the tech boom didn't have much to do with him, we do have to give him credit for holding the line on taxes government spending.
- AlexanderBlue, on 11/16/2008, -0/+1There is some truth in what your saying, BUT:
1) Despite my love and years of use of Linux, if I were the CIO or CTO of a bank, we'd be running on Solaris, not Linux. Solaris really sets the standard when it comes to reliability and robustness.
2) Your comments on their servers seems to have completely missed their contribution to not just multi-core CPUs, but cores capable of simultaneously running multiple threads. Read up on the UltraSPARC T1 (IE Niagra) CPU; that processsor has served as inspiration to engineers at a variety of other companies, including Intel and AMD. - crazyhorse13, on 11/16/2008, -0/+1Sooo, because they are the majority, that means they aren't sheep? Last I checked, the whole sheep thing meant that you would follow the rest of the herd wherever they went. Which lends itself quite well to being the majority of the population. If people weren't sheep, they would vote independent in greater numbers.
- natenovs, on 11/16/2008, -0/+1yes.
- publiclurker, on 11/17/2008, -0/+1If you don't mind associating with people like Barney Frank.
- calidor, on 11/16/2008, -0/+1*barfs*
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