Vimeo employed somewhere north of a thousand people a year ago with 28% being in the engineering team (according to random google results - this isn't an area I have personal knowledge of). If they dropped from around 300 people to 15 that sounds like gutting - not trimming.
They will be hiring up but not the same people. Bending Spoons tends to replace high silicon valley wages with high Italy wages which is a considerable saving.
This is why I can't take any anti-immigration sentiments seriously in this country. An american founded company runs a business for 20 years, sells it off overseas, and the new owners kick all Americans out of the equation.
Response from America: "well that's just business, I guess". It was never about preserving American labor.
If the company was profitable they wouldn't have needed to sell. It was always living on borrowed time. If a US owner bought it they'd have done exactly the same thing (layoffs) albeit possibly with new jobs in a different state than country.
>If the company was profitable they wouldn't have needed to sell.
And it's always the workers who pays the price, not the businessman. Does that see fair?
>If a US owner bought it they'd have done exactly the same thing (layoffs) albeit possibly with new jobs in a different state than country.
That'd be unfortunate, but it still means jobs are created in the US. It also gives he opportunity (slim) to have people move in the country. Moving the jobs overseas, not quite as mobile.
But yes, the big issue here is the lack of decorum in how we recklessly cut jobs here. This isn't how most 1st world coutnries work.
Well, if we're talking about the value of the underlying assets - then I imagine you have all your savings in gold because the PE ratios in the US stock market are already absolutely insane.
If you're trying to escape an expected upcoming crash you don't necessarily need to look for growth but instead stability. Precious metals are always popular but simply shifting a portion of your money into an index fund of a different stock exchange should help minimize your exposure to any catastrophic loss.
Well, some good news is that if you've ever wanted to build a new video streaming platform there are a bunch of companies that'd love to sign up.
I'm sure dropout et all will be able to continue with their same level of functionality in the short term but I can imagine the bills they'll be receiving will be escalating quickly.
Dropout's CEO has been pretty open about the company, and he described their early efforts as 'Brutal'
> No! We tried, but people don’t realize this. The first rendition of Dropout was built on Vimeo OTT’s API, but it was our own product. We employed something like eight sophisticated engineers at IAC to build our own product around it, and it was brutal. Which is to say, it’s just very hard to do very well. And these were great engineers.
Oh, it will - but they don't care. I'm sure they'll eek out 1.5b from their 1.3b acquisition and be happy as clams.
It certainly is depressing to look at what was built and what could be made of it but most of the folks with money lack the creativity or skill to actually build a lasting business. Just burn it down and rob it on the way out - such is the modern economy.
I mean, Broadcom / VmWare is basically doing the same, just more for enterprise level software.
OTOH - if Vimeo has given up all hope of further new features, then giving current users the chance to keep going isn't completely evil, even if it's at a higher price. VmWare is basically doing the same, and lots of customers are leaving, and those who aren't may still eventually do so, etc. (Edit: what if the alternative was Vimeo shutting down?)
Think of vintage car parts - if you absolutely want to restore that '30s Ford (keep using 20+ year old software) - someone offering an OEM-equivalent part for 3x what it cost back in the day (even adjusted for inflation) may actually still be good value - because what other alternatives are there?
Now - does it suck for the employees? Sure. One thing an econ prof said back in the late 90s (who loved to guest-lecture to CS/SWEng students): your job as a software person is to put other people out of work by automating stuff they used to do manually. Are you ok with that? Because if you're not, you should go into a different industry right now. Feels much worse when it's programmers getting the axe due to finance types, but not unexpected.
And it's not like there aren't a plethora of relatively accessible technical solutions to fix this problem like looking for inconsistency in nearby devices that accompany the driver and the usage behavior metrics in use within the advertising industry to de-anonymize users. Figuring out who someone is when they don't want you to know it's them is a scarily well solved problem at this point... figuring out if someone isn't the same person you thought they were yesterday is comparatively trivial.
Running a business where your employees are isolated with customers in often remote areas is not a standard business. Additional safety for both parties is certainly warranted.
I believe that TD's US presence is still a subsidiary of the main Canadian corporation - and there are some banks that will explicitly offer offshore non-US currency accounts. That is a good point to raise though since most banks may offer holdings in overseas funds but if they're managed domestically they'd likely be subject to the same currency shocks and your account may still read well on paper but be effectively unreachable.
I can't confirm that fact - but it's important to acknowledge that consumer usage is very different from the high continuous utilization in mining and training. It is credulous that the wear on cards under such extreme usage is as high as reported considering that consumers may use their cards at peak 5% of waking hours and the wear drop off is only about 3x if it is used near 100% - that is a believable scale for endurance loss.
That's the rub - it's clearly overvalued and will readjust... the question is when. If you can figure out when precisely then you've won the lottery, for everyone else it's a game of chicken where for "a while" money that you put into it will have a good return. Everyone would love if that lasted forever so there is a strong momentum preventing that market correction.
It was overvalued when crypto was happening too, but another boom took its place. Of course, lightening rarely strikes twice and all that, but it proves overvalued doesn’t mean the price is guaranteed to go down it seems. Predicting the future is hard.
if there was anything i was going to bet against between 2019 and now, it was nvidia... and wow it feels wild how much in the opposite direction it went.
I do wonder what people would think the reasoning would be for them to increase in value this much back then, prolly would just assume crypto related still.
There is a very sudden shift though - those options have existed but not generally been seriously considered. The US was seen as a bastion of stability and while sanctions could drastically impact a country's ability to trade due to the reliance on US currency exchange it has arguably been used relatively scarcely.
The change is that suddenly the US isn't a bastion of stability and having an independent trading currency could ensure more internal stability for other nations.
The U.S. is as stable as it gets. It has been one continuous republic and has 250 years of legal stability and a history of paying its debts. It has 4.2% GDP growth, with the largest economy in the world and growing.
Your ruler is no longer following the rules of law, nor the foundational constitution. USA ended with their declaration of dictatorship and the failure of your houses/legislature/military to act against that and defend the Constitution.
I can't see how, since the end of habeas corpus, you can claim legal stability.
Your leader is World renowned for reneging on debts and is demanding bribes for companies to operate.
Isn't borrowing through the roof to pay for things like your stasi?
Daily those stasi are murdering and disappearing people seemingly attempting to foment an excuse to escalate the violence.
I don't know how that knife edge can look anything like stable to you.
It's a very grandoise (or alarmist, depending on your perspective), but this isn't super new. The US has been "unstable" with rulers breaking their own laws domestically and internationally for many decades.
My money is that influence campaigns are active on HN and try to mold the discourse. The whole internet is manipulated to hell, and HN is a prime target, you have a bunch of smart people that probably have oversized influence, how could you NOT try manipulating this place?
This is most certainly happening. A lot of US-critical articles also get flagged to death, even when they have a lot of upvotes and healthy, civilized discussion.
I don't think mostly is true? Obviously it depends a lot on the time of day, but there are also a lot of Europeans on the site. Also, most comments here seem to be critical towards current US policy. So, I think there is quite a lot of manipulation going on, since the downvoting/flagging does not really match the comment section.
I think it's true. There is a significant audience here from other areas but this being an english language forum and one focused on tech means that the US is always going to have a dominant presence[1]. The US dominance also means that the news is highly focused on US events when it wanders out of tech which further reinforced the audience.
1. I believe Canada does have an outsized presence though!
The problem is the AI bubble, without it it is speculated that the US economy might actually be in a recession [2] - effectively, that web of investments, deals, ownerships, purchase contracts and god knows what is nothing more than wash trading that will come crashing down hard.
That is why for the 99%, the economy doesn't "feel" like 4.3% of growth. If you're not in AI directly or at least adjacent (e.g. datacenter or utility construction), you don't feel any of that money.
The U.S. chose to abandon the rules based international order that has made it a bastion of stability since WW2 when they decided they wanted a return to the monroe doctrine and that it was okay to arbitrarily invade countries and take their resources based on the impulses of a single person. The same person outwardly stated, "Considering your Country decided not to give me the Nobel Peace Prize for having stopped 8 Wars PLUS, I no longer feel an obligation to think purely of Peace". If you think this is "as stable as it gets", then we're living on different planets.
There more to stability than continuity of government. Though, that definitely is important.
It’s bad enough that America’s foreign policy lately swings wildly every four years. More recently, it’s been acting aggressive toward allies, and making very strange and unpredictable moves.
The USA’s tariff policies are, frankly, utterly insane. Yes, I do mean the tariffs are irrational and incoherent. The approach to the tariffs has been overly aggressive. They’ve been changing almost daily, at times. Now, tariffs are specifically a thing that must be stable and predictable on a multi-year horizon. This must be, at least, off-putting to other governments, and to any companies wishing to do business in or adjacent to the USA.
Monkeying with the Fed is dangerous and basically unprecedented. This is going to make people nervous because it marks the end of an era of stability in monetary policy. We may be at the start of a new era where interest rates, much like the tariffs, change frequently for bad reasons or for no reason at all. Who can say?
America was never a stable country. That 250 years includes:
* A decade of chaos under the impotent Articles of Confederation.
* The deliberately engineered election of George Washington to create the illusion of political stability, a reign which only ended because George stepped down voluntarily.
* An immediate constitutional crisis the moment a competitive election happened, causing the election of a President and Vice President from opposing political parties (imagine a Harris - Trump presidency). The ensuing chaos resulted in SCOTUS unilaterally declaring itself the final arbiter of the law.
* The Thomas Jefferson presidency, which in many ways is the alpha release of Trump.
* The Civil War, started specifically because the losing faction of slaveholders was angry at losing, and ending with the losing faction losing so hard the counter rolled back into flawless victory. They surrendered, then assassinated the President and got his party to give up on everything he stood for.
* Economy-destroying Smoot-Hawley tariffs, which are basically what Trump is doing now.
* A spectacular near-miss in which the country's business elites attempted to assassinate a Progressive president and only failed because the Marine they selected as their Hitleresque dictator ratted them out.
* Widespread civil unrest deliberately created to force America to reckon with its racist past and undo what the South had managed to convince the North to allow them to do after Reconstruction.
* The Richard Nixon presidency, which in many ways is the beta release of Trump.
* Too many foreign invasions to count.
In the entire history of America I can think of maybe 3 brief moments of political stability that weren't outright engineered fantasies. The two that are relevant to modern times are the 1950s and the 1990s. Both of these were the result of America winning a war of conquest.
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