Stop with the depression talk. At worst it’s the 1970s with a decade of stagflation, but inot a depression.
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Last statement on Dot.Com bubble burst, google it as it started 1995. Or ask the thousands that lost their job or lost major in stock due to it. The issue wasn’t the technology or the potential of it, it was the way CEOs played the cards that overhyped expectations way to soon. Same as they are doing with AI.
Referring to the overhyped of Dot.com in year of 2000.
How was it overhyped? The Internet has been growing by leaps and bounds for more than 30 years. Until recently it was growing so fast that Cisco kept seeing increasing revenue while losing market share to competitors.
When is the last time you saw ATM, frame relay, FDDI, token ring, X.25, DS0s, T1s, T3s, Appletalk, DECnet Phase IV, IPX/SPX or other technologies which were used before the inflection point from esoteric technology for governments are corporations to being in everything? I studied AI at the graduate level 40 years ago and it's only now that the compute power is such that it can really be completely transformative in the same way that Ethernet, IPv4 and POTS modems closing in on DS0 speeds made networking spread like wildfire starting in the 1990s.
The solution space is far greater for AI/ML than networking so even more money will need to be spent to explore what's possible and to find best practices in each market. For each of those over time there will be consolidation but AI/ML will be more common in more products that most are imagining right now. As any technology ultimately matures the development part will transition from wildly creative to maintenance with small incremental feature growth even as the overall consumption of the technology may continue to increase exponentially.
Not 1929 bad, but what's coming is going to be worse than the "great" recession. The entitlement bills and handouts have to be paid by someone.
Referring to the overhyped of Dot.com in year of 2000.
Those were the good ol’ days… job hopping and increasing salary by $10k - $20k each time.
Post from TheLayoff.com
Referring to the overhyped of Dot.com in year of 2000. Same is occurring with AI
Its worse than 1929, because Gen-whatever is so dąmn fragile
Fact: AI is another tech con, just like Dot.com……..
Yeah. Your cars, appliances, phones, televisions, HVAC controls, computers, banks, and pretty much anything else that is powered by electricity don't support or in many cases require a network connection. That dot.com thing will never take off!
Cisco really needs to lay off far more people.
Fact: AI is another tech con, just like Dot.com…….. you watch, then things will hit the fan with major layoffs and salary reduction across the board.
Don’t worry it’s only going to be a decade before the economy is going strong again @OP
Inflation is 2.5%, Q2 2024 real GDP QoQ growth of 3.0% with an annualized growth rate of 2.8%. Indices continue to hit all time highs. Full employment is generally anything under 5% and we're at 4.2%.
If people are soiling their diapers over this, when the next real downturn finally does appear you aren't going to survive it.
@1dxz+1uIDvHs6 if you have little hope of reemployment that means your skills are outdated. people who know ML/AI for example, you think they have any problems with employment right now?
The way we're spending on Israel, we're in trouble.
Tell that to someone just LR’d with little hope of reemployment
Co-mie gaslighting.
Hey at least the breadlines aren’t as bad as last week! While stepping over dead bodies.
Good, we are overdue for a recession. Too many people partying like drunken sailors the last few years with all the COVID stimulus money being dumped into the economy. Guess what, there is no such thing as a free lunch. Now it is time to pay the piper.
My finances are in terrific shape, if the recession comes then so be it. The sooner it happens, the sooner it's over and the economy can get back on track again.
Well me & 2 closest neighbors all got hit, what did Truman say to that?
Fact we are in a Recession even though NOT flagged as such. Reason why not flagged is due to the number games they play with unemployment stats. They aren’t including us older laid off workers that was force into retirement due to lack of jobs for our age.
You don't seem to be be affected. Try getting LRd with a family and kids. Forget about mortgage. Just kids
Is this supposed to be a positive message?
“It not the plague, just a terminal illness”.
“It's a recession when your neighbor loses his job; is a depression when you lose your own.”
- Harry S.Truman