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They are being far more circumspect than Microsoft here (and for good reason).

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No. There is absolutely no comparison to the US banking system now and in 2008. In 2008, banks were 4 times more leveraged than they are now, because regulations are far stricter. The source of the crisis was a giant asset class — private residential mortgage-backed securities — whose risks had been systematically hidden by the banks that made them, and the ratings agencies who were complicit.

So, banks were very vulnerable on the one hand due to over leverage, and they all owned a lot of an asset class that became unpriceable once people realized what had happened.

There is nothing like that now. The big issue is unrealized losses on 2020-1 vintage Treasury and government-mortgage securities because of rising rates. The Fed backstopped that by letting banks borrow against the full value of the bonds, not the depreciated value. If those bonds go to expiration, they are paid back in full, and the unrealized losses never become realized.

This is a tempest in a teapot caused by a few babies on Sand Hill Road who decided to destroy SVB, and then whine all weekend to the government to save them. They are libertarians until it hurts the bottom line.

The correct answer is “switch your major to electrical engineering or industrial engineering."

For anyone in this predicament, the place I see the most hiring for software developers is large non-tech companies like Walmart. They have 1379 job openings with “software” in the title. Many are in CA, WA or TX, and hundreds were posted in the past few weeks.

https://careers.walmart.com/results?q=software&page=1&sort=r...

I’m in finance, and cover a lot of tech stuff. This is where I see the most hiring still happening:

1. Non-tech. To varying extents, every large company is a tech company now. They were all shut out by Big Tech for 2 years. Walmart currently has over 1300 job openings with the word “software” in the title.

2. Battery startups. This is mostly not software, but they are hiring like mad.

3. AI startups. You may have noticed the gold rush atmosphere, and prospectors are needed.

4. Cloud services. Amazon laying off all over the company, but still hiring at AWS.

Good luck, which is always the most important ingredient.

Listening is the most underrated skill.

Let’s start with the pay, then move to the benefits, and then move on to their Sunnyvale, CA location for many of the software jobs. Not saying it’s for everyone. But there are a lot of software layoffs and they are definitely hiring at competitive pay/benefits. Every Fortune 500 company is a tech company now.

I know no one gets a CS degree dreaming of working for Walmart, but they have over 1100 openings with the word “software” in the title

https://careers.walmart.com/results?q=software&page=1&sort=r...

Full charts: https://ntia.gov/sites/default/files/publications/january_20...

As someone who grew up in NYC in the 1970s and 1980s when the mob ran the city, this type of stuff is hilarious to me.

So far pretty good. I am a Kagi Search subscriber, and they keep surprising me to the upside.

Jerome Powell’s press conference https://www.federalreserve.gov/mediacenter/files/FOMCprescon...

At a press conference on February 1, 2023, Chair Powell of the Federal Open Market Committee (FOMC) discussed the FOMC's decision to raise the policy interest rate by 25 basis points. Powell noted that recent indicators point to modest growth of spending and production this quarter, and that job gains have been robust, with employment rising by an average of 247,000 jobs per month over the last three months. He also noted that total PCE prices rose 5.0 percent over the 12 months ending in December, and that core PCE prices rose 4.0 percent. Powell emphasized that the FOMC is strongly committed to returning inflation to its 2 percent objective, and that the Committee decided to raise interest rates by 25 basis points today in order to assess the economy's progress toward its goals. He also noted that the FOMC is carefully watching the economy and inflation, and that it is important that overall financial conditions continue to reflect the policy restraint that is being put in place in order to bring inflation down to 2 percent. Powell concluded that his base case is that the economy can return to 2 percent inflation without a significant downturn or increase in unemployment.

Depends which flavor of 5G you are talking about. mmWave is still terrible unless you are right next to a cell. Midband is slower, but a huge improvement over LTE, and uses adjacent bands in many cases.

Verizon and ATT pursued a mmWave first buildout, and now they are catching up on midband. That’s why the C-band issue was so huge last year for them. Unique in the US, T-Mobile did midband-first (it was the point of the Sprint merger —- to get Sprint’s frequency licenses that were good for midband), and they have the most useful 5G network, mostly because of availability.

Life is what happens when you’re busy making other plans. - John Lennon.

Because they added too many people. From end of 2019 they added

Google (through September 2022): 68k

Microsoft (through June 2022): 77k

Amazon (through December 2021): 310k

Meta (through September 2022): 52k

Salesforce (through January 2022): 39k

Most of the layoffs in these places is coming in HR and sales.

Oh, yes.

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Can’t speak to others but I at the beginning of all this (late 2000s?), I used to build Hackintoshes and briefly sort of made it my life’s purpose to turn all my friends’s Windows PCs into dual boot.

For myself, I needed a lot of parallel processing, and Mac Pro back then just got you so far.

For friends, it was because I’m a Mac shill. This was my way of getting them to buy a Mac when the future of the platform was still a little uncertain.

I still have a “MacBook Nano” which was an ASUS netbook that dual booted

Seems to be missing the all important steam vents (32 in patent drawings)

The perfect pizza box has been invented, but Apple hoards that IP, and keeps it from The People.

https://patentimages.storage.googleapis.com/78/74/d5/3374ac3...

It is Cameron’s Day Off; he is the protagonist.

1. If there is a recession in the EU, nothing like 2008. It will be much shallower and shorter.

2. It actually looks like European data is rebounding a little, so y’all may skirt it.

Right now I would recommend 3m T-bills earning 4.5%. When that matures, the SP funds are good. Set it and forget it.

Open an IRA, and get as much as you can into the IRA.

Everyone wants this to be about politics, but that elides the fact that he looks like an utter clown every day to anyone who understands software, social media, or finance.

And also, IRS is adjusted gross income, not income.

And that comes from the distributional financial accounts

https://www.federalreserve.gov/releases/z1/dataviz/dfa/index...

Households, not people

Absolute nonsense. The highest wage gains went to the bottom 25% of earners. That has been the case since 2015

https://www.atlantafed.org/chcs/wage-growth-tracker

Scroll down to the chart and click on “Wage Level"

In 2019 dollars $867,844

What if I told you it’s impossible to get 100% clean financial data from anyone, including Bloomberg?

Walmart has over 1000 job openings with the phrase “software engineer” in the title. Not all tech jobs are at tech companies

He still thinks Twitter's issues are technical. They are political.