Another data point: Looking at the market in tech jobs, salaries have easily increased 100-300% from five years ago. It’s really bananas out there. Big tech and well funded startups are throwing tons of cash/equity at tech folks because there is so much demand for them. Feels exuberant to me.
A few other signs that worry me:
- Ridiculous valuations of tech stocks, both public and private (There are more than 900 tech startups that are worth more than $1B now; in 2015 there were 80 [1])
- My wife (who is not in tech) asked me about what Bitcoin and NFTs were, which tells me things must be close to peak hype
- Meme stocks and the related irrational (nonsensical) things going on in the market
No idea what’s going to happen but things are so crazy now, there is no way it’s going to last forever. I’m sitting on a decent amount of cash and am employed at a steady company who should not be too affected by a downturn in some of the above trends. Mostly just twiddling my thumbs and nibbling at things that look cheap.
[1] https://www.nytimes.com/2022/01/19/technology/tech-startup-f…