Paying your debts is a business decision, not a moral decision. There is nothing moral about paying your debt to a bank and nothing immoral about not paying your debt to a bank.
Businesses do this ALL THE TIME. Businesses can do this, and will walk away from debt the second when the math makes sense. If it's okay for businesses, then the exact same behavior should be okay for us humans to do. I walked away from my house at the height of the financial crisis. It was a business decision, because the mortgage was far larger than the value of my house.
Student loans are the only reason why tuition has gone up 10x in 30 years. Every financial entity from banks to schools feel like it's okay to hang students out to dry with large debts because they will have to pay for it for the rest of their lives. I hope a large portion of the debt disappears because the students simply walk away from the US.
In my opinion, if you agree to a deal and then decide not to fulfill your end of the deal, that is immoral. Like if you agree to pay me to make you a sandwich and then you take the sandwich but leave without paying, that is immoral.
If you are in a casual agreement with a friend and don't keep up your end then it's immoral.
If you have a contract that specifies expectations and consequences, then it's just a business deal.
The (predatory) school loan business works from contracts and they are obligated to keep up their side only as much as you are yours.
The real immorality is not accepting the consequences embedded in the contract to which you both agree to, it is that the United States has such a business in the first place.
Well actually second place I guess. When the student loan business started it was not predatory. But it got horribly abused, by the borrowers who would declare bankruptcy gaming that system, schools who raised rates because they knew loans were available, and the lenders who astroTurfed children into believing that it was a good bargain to exchange $200,000 at high interest for a Art History degree
That is how bad countries are made. Good countries are made by people thinking that its also wrong to steal from the government.
For example you should never ever vote on politicians that waste tax money. Some countries do that, but USA is not one of them since Americans thinks its moral to steal from the government so they don't blink an eye over every president using millions on his own or his wifes personal projects. "I'd also do that if I was the president" is how that gets perpetuated, you have to stop voting for any such candidate and only vote for those that promises to put an end to it. That would mean voting third party, but...
> They filed H1Bs for 2025 and 2026, but not after or during the layoffs from last week
These kinds of layoffs don't just happen on a whim, certainly aren't supposed to. Oracle's business conditions really didn't change that much over the past year.
It's perfectly reasonable to retroactively question a company's choice to hire immigrant workers relatively shortly before layoffs.
The AI world is moving incredibly fast. A lot of SaaS company valuations are down. You can’t honestly say Oracle is operating in the same conditions as last year.
I panic bought a Macbook Pro M5 Max with 128 GB ram. I yolo'ed because I don't think ram prices get better in 18 months so this might be the last time we see "cheap" memory, even though the laptop cost me $5000.
This is an extinction event for the low-cost cell phone companies. How are they going to survive if they can't sell their $100 phones profitably for 2 years? I think many of the low-end companies will simply sell their allocations of RAM and close up shop.
This is my greatest concern. So many small players will be wiped out. Consolidation is assured. Always great for consumers to be under the thumb of increasingly large companies.
There are a bunch of subbrands but there are also a lot of genuine small Android phone companies, especially in China.
Some of these serve some interesting niches that might now disappear due to this DRAM supply issue, e.g. Unihertz for extra small phones or CAT for extra durable worksite phones.
Will it be such a big deal though? Currently people are swapping out their phones for another model that's exactly the same but with a different number at the end of the name every 12 months. This could just mean that the unnecessary churn dies down a bit, and companies taking advantage of it have to find a new line of business.
> Will it be such a big deal though? Currently people are swapping out their phones for another model that's exactly the same but with a different number at the end of the name every 12 months.
I don't think they do that at the low-end (nor the high-end, though that doesn't matter here - higher-end manufacturers have a small margin they can eat into). People on the low-end phones want a new phone, they just cannot afford it!
Even in the mid-end: If you buy a phone which you find to be decent, but affordable, and are not out for chasing the latest gimmick - there is no reason it would not last you 6 or 8 years easily - before applications start assuming the presence of better hardware, or a newer Android version than you have etc. Naturally you will have to protect it from physical damage, and maybe replace a battery at some point.
Because the phones stop working well? I write part of a post, open another tab to go look up some information, come back to the post and what I've written is gone, because the memory got dumped. That's the reality of using an old cheap phone.
And would you consider yourself representative of the phone-buying public in general?
My desktop PC is from 2008 but I'd never consider this to represent anything like common usage. In fact it's so unusual that I get to point it out in posts like this.
This comment makes no sense to me. I exclusively use very low-end phones from Xiaomi. I buy a new one roughly every two years. Each new phone has a better screen, camera, CPU/GPU, charging, and sometimes more RAM/storage.
But it had 4k 60fps video, optical image stabilisation, a "super retina display" etc five generations ago. The specs have kept improving, but it's not a quantum leap in performance.
The same applies at the low end, the grand parent comment even agrees.
You buy a new phone every two years, it comes with a camera, a cpu, a gpu, a host of sensors. Same as phones did two years ago, and ten years before that.
I don’t use my current smart phone in any ways that are different to the iMate PDA2K I had twenty years so.
> You buy a new phone every two years, it comes with a camera, a cpu, a gpu, a host of sensors. Same as phones did two years ago, and ten years before that.
I am confused by this comment. I said that each time I buy a new low-end mobile phone, there are large improvements in the quality of screen, camera, cpu/gpu, and other sensors. Sure, I have had a 4k camera on a low-end mobile for about 10 years now, but the quality (light/colour) of photos and videos has improved dramatically.
How often does your browser freeze up when you open a webpage? How often does your phone browser dump its memory when you switch to another tab and then switch back? Eg if you were writing a post and opened another tab to go check some fact then the post in the original tab gets deleted.
Because that's what happens if you use an old cheap phone in the modern day.
I even had a phone that would occasionally just crash when on a heavy website and the onscreen keyboard popped up. That was not at all infuriating!!! Especially when it would crash when I try to refine a Google search.
your comment makes also no sense to me, I exclusively use very low-end phones from Xiaomi since 6 years, and change it only when it's dead or when I can't run my apps (I'm afraid mine won't last 2 years more). Before this I kept my first smartphone (iphone 3GS) for 10.
Forget developing countries, iPhone is a luxury even in some European countries, when rent is 500+ Euros and your take home pay is ~1000. After all the other bills you're not left with iPhone money, which is why 100-200 Euro models of Chinese brands are doing so well.
It's easier to name the countries where iPhone ISN'T a luxury, as you can count them on very few hands.
Many countries would develop much faster if there weren't bombed nor maintain by puppet dictactors from (economically) developped nations (USA and france keep doing this intensively, while countries like Germany dont mind supporting fascist states). (PS: I'm not woke, not even Marxist).
Thanks a lot, Sam Altman / OpenAI. Their little $100bn war chest being used for obstructive / destructive purposes will wipe out multiples of that amount via economic ripple effects. All in an attempt to keep a stranglehold over AI via competitive resource starvation. Basic.
> This is an extinction event for the low-cost cell phone companies. How are they going to survive if they can't sell their $100 phones profitably for 2 years?
This is a great thing to happen, actually. Those phones are all essentially trash that ends up in a landfill within a year or so. They should not exist at all.
No they don't. I know people that use them for many years. They exist not as a gimmick but for people who seriously can't afford anything better. Those people won't have the funds to replace them on a whim either.
Businesses do this ALL THE TIME. Businesses can do this, and will walk away from debt the second when the math makes sense. If it's okay for businesses, then the exact same behavior should be okay for us humans to do. I walked away from my house at the height of the financial crisis. It was a business decision, because the mortgage was far larger than the value of my house.
Student loans are the only reason why tuition has gone up 10x in 30 years. Every financial entity from banks to schools feel like it's okay to hang students out to dry with large debts because they will have to pay for it for the rest of their lives. I hope a large portion of the debt disappears because the students simply walk away from the US.
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