"As a concerned citizen and advocate for the technology sector in our great nation, I am writing to express my strong support for S.866, the American Innovation and Jobs Act. I believe this legislation is crucial for fixing the unfair tax treatment faced by startups, technology companies, and software engineers, which together form the backbone of innovation and economic growth in the United States.
The bill will make it easier for startups and small businesses to thrive, create jobs, and compete in the global market. Additionally, the legislation will also make it more attractive for talented software engineers to choose careers in this vital industry.
Our nation's ability to maintain its competitive edge in the global market depends heavily on the health and vibrancy of our technology sector. By passing S.866, we can ensure that our startups and tech companies have the resources they need to innovate, create jobs, and contribute to the economy. Furthermore, this legislation will help attract and retain top-tier talent in software engineering, an essential component of our country's continued success in the tech industry.
As your constituent, I kindly urge you to support and vote in favor of the American Innovation and Jobs Act, S.866. This bill is a vital investment in our nation's future, and its passage will undoubtedly lead to continued growth and prosperity for the United States in the competitive global market.
Thank you for your attention to this important issue, and I appreciate your dedication to representing the best interests of our community and the nation as a whole."
My understanding is that a large portion of this "CPI index that excludes food and energy" is housing. Which might explain the seasonality mentioned in this blog post (people tend to move more in the warmer months).
I don't see how raising interest rates will help when the core issue with housing is the lack of supply. If anything higher rates will make it harder to add more supply.
They don't raise mortgage rates, they raise the rates at which banks pay each other for overnight loans. But this tends to affect all other rates indirectly, including mortgages. They've only got one tool and it's a giant sledgehammer. From the looks of it they're trying to crash the economy, but avoid wrecking it so badly they can't start it up again.
The Fed can't do anything about housing supply. Mostly it's zoning regulations preventing it, lower mortgages to bring out the buyers might help a little but even when the market was roaring we hardly built anything.
> I don't see how raising interest rates will help when the core issue with housing is the lack of supply.
why did this become a issue last 2-3 years. I don't understand this at all. Re raising interest rates will crush demand via job losses, foreclosures, dissuade flippers and property speculators.
Because of the pandemic which caused people to desire more space. Maybe they were living with their parents or roommates and want their own place, maybe they had kids during the pandemic, maybe they need a home office.
Sure if you raise rates enough to cause a recession and massive job loss that would eventually push home prices down but it seems like building more housing would be a simpler, kinder solution.
That’s the importance of having a unified approach, shared between the government and the Fed. It doesn’t help inflation when the country is running all-time-high (or close to it) deficit levels, especially if that money isn’t being appropriately allocated.
> Re raising interest rates will crush demand via job losses
Raising interest rates doesn't automatically lead to layoffs and businesses closing. It certainly might for faltering or weak companies, but it's not like x% interest rate increase === y% unemployment increase or z% business closure.
> foreclosures
Sure, if you have an adjustable rate mortgage, are massively underwater, and can't afford the new payments. That in and of itself is not a bad thing - if you couldn't afford the house five years ago at 4.5% fixed rate, you couldn't afford it at a 3% ARM either. There's no reason to think an increase in foreclosures would be anywhere close to 2008 levels simply because rates are increased to more historically reasonable levels.
On top of the security concerns it's also not "fair trade" if US social media companies cannot operate in China while theirs are allowed to operate here. There are plenty of alternatives to TikTok now, banning them is a no brainer.
The CCP way is making you do thing out of your own volition so that they can always be the nice guy, they never banned US companies, they just made them extremely uncomfortable to operate so they quit themselves.
Instead of targeting the Tiktok, how about we target a proper policy. This baptist vs bootleggers law isn't going to help. This will just mean user will move to copycats like Instagram or Youtube.
Whats with all of these RSS stories suddenly on the front page today? Feels like exactly what PG was talking about in The Submarine[1] but who would be behind pushing RSS feeds all of a sudden? Is there a Big RSS lobby I don't know about?
I think it's stemming from the Twitter migration trend. Lots of people moving to Mastodon are talking about their personal blogs or thinking about starting one up again. Zeitgeist is thinking about taking back content ownership and creating tighter communities. I'm diggin' it.
I remember vine from my undergrad and cannot see how tiktok is different, yet… I know a bunch of tiktok users and vine went the way of the Harlem shake, side parted hair and tribal print on everything.
If TikTok was to actually get banned I could see IG Reels scooping up most of that userbase. Though they can replicate the functionality, replicating the algorithm is going to be difficult. One of the things that's made TikTok such a phenomenon is that their algorithm is crazy good at figuring out what you like and boosting small content creators.
They filter out everyone the CCP doesn't like. No sex, no politics, no provocative expression.
Just wholesome clips of happy citizens dancing and living joyful lives under the communist regime.
Such content isn't inherently bad of course, but if you're an adult and that's the only media you're consuming, it's a bit like eating fast food for every meal.
"their mere interest in something doesn’t disqualify it" - It certainly raises suspicions though. It really feels like certain groups have gotten good at turning particular news events or ideas into memes and sharing them as widely as possible in order to push a narrative that manipulates the markets. Which is probably why this story is now on the front page of HN. We certainly saw this with crypto and now it feels to me at least like those same tactics are being applied more and more to the larger stock market.
I agree with this point. It isn’t the case that WSB interest disqualifies the viability of financial information… but it also doesn’t make it more credible.
The point I disagree with (and I think the original post is making) is just because an unpopular group (WSB) is interested in something, doesn’t discredit it.
> The point I disagree with (and I think the original post is making) is just because an unpopular group (WSB) is interested in something, doesn’t discredit it.
If that groups has consistently been wrong about everything for two years, then it absolutely does. It's like Jim Cramer: If he states something, there is at least a 90% chance that the opposite will happen.
They’re at 60% of the float locked up with DRS now. Once they get to 100% then the true measure of whether they were right or wrong can be ascertained.
Maybe I'm being overly nostalgic but I miss the days when startups ruled and when it was all about building cool stuff. Nowadays tech feels so insanely corporate it's all about how to get a job at one of the biggest companies and how to play the corporate game to get more power and prestige.
I can see how it may appear that way. I view the non-coding skills within Taro to be less about power/prestige, and more about things that can genuinely help you become a better engineer.
One interesting trend is how Big Tech is becoming... bigger. This is certainly a new phenomenon in tech, to have a handful of companies (Google, Meta, Microsoft, Amazon) employing literally hundreds of thousands of engineers. Being able to succeed in these companies, along with many others with a similar culture), is increasingly important for software engineers today.
"As a concerned citizen and advocate for the technology sector in our great nation, I am writing to express my strong support for S.866, the American Innovation and Jobs Act. I believe this legislation is crucial for fixing the unfair tax treatment faced by startups, technology companies, and software engineers, which together form the backbone of innovation and economic growth in the United States.
The bill will make it easier for startups and small businesses to thrive, create jobs, and compete in the global market. Additionally, the legislation will also make it more attractive for talented software engineers to choose careers in this vital industry.
Our nation's ability to maintain its competitive edge in the global market depends heavily on the health and vibrancy of our technology sector. By passing S.866, we can ensure that our startups and tech companies have the resources they need to innovate, create jobs, and contribute to the economy. Furthermore, this legislation will help attract and retain top-tier talent in software engineering, an essential component of our country's continued success in the tech industry.
As your constituent, I kindly urge you to support and vote in favor of the American Innovation and Jobs Act, S.866. This bill is a vital investment in our nation's future, and its passage will undoubtedly lead to continued growth and prosperity for the United States in the competitive global market.
Thank you for your attention to this important issue, and I appreciate your dedication to representing the best interests of our community and the nation as a whole."