I think this is the story of tech in general. In my life, I've seen 3 really big steps down for the middle class: 2001, 2008 and then covid. Basic necessities are expensive today - people point to high GDP but what I see is high prices and poverty. And Tech, we've built a dystopian surveillance state.

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JumpCrisscross 3 hours ago | parent [-]

> Basic necessities are expensive

There is going to be a well-deserved shitshow when these IPO proceeds start hitting real estate markets.

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sailfast 2 hours ago | parent [-]

A shitshow for whom? I see it as extremely unlikely for the United States of America to not allow individuals to purchase things for whatever money they can pull together.

The only answer is to make it unacceptable socially, more costly economically (taxes, etc), or the third option which involves pitchforks (perhaps that also falls under "unacceptable socially") that I hope we can avoid at all costs. (is this the show you mention?)

Feels like folks used to understand the balance a bit better - but I think I made that up. This next governance cycle is going to be a trust-busting, wealth-confiscating one I think.

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JumpCrisscross 2 hours ago | parent [-]

> shitshow for whom?

I think there will be a tremendous political opportunity in the next 6 months to capitalize on rage in cities against new tech wealth driving up housing costs.

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Avicebron 2 hours ago | parent | next [-]

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throwawa1 2 hours ago | parent | prev [-]

Housing prices aren't going up. They peaked in late 2022. Boomers are a huge generation, with homes millennials and Gen Z can't afford to buy. And they are smaller generations.

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JumpCrisscross 2 hours ago | parent [-]

> Housing prices aren't going up

Where? Rents and home prices are increasing in most American markets.

	▲	throwawa1 an hour ago \| parent [-]
		Everywhere. I own a home in California - prices peaked in the state in 2022. Here is a map of home prices: https://www.reventure.app/map