60 Minutes segment of rising rent

[Wild self]

You realize most millennials arent working in the Tech field.

He a bootstrapper that believes that if you not Tony Starks making 6 figures, you deserve poverty. That type of mentality deserves a 1990 Mike Tyson style punch in the skull.

 

[Robbie3000]

i didn't believe it until my director told me about it. he was a helpdesk manager at yahoo during their peak and was getting 50k bonuses and stocks. our salesforce administrator left for google recently and got 20k to sign with them. my director is interviewing with google and they told him as a project manager he'll get 70k a year in stocks. it's wild out there.

Google Engineer Shares How They Made Over $1 Million In Total Annual Compensation: The Advice Applies To Everyone

The big money is in stock and options. Directors of engineers at Google, sometimes called “principal” engineers at the “L8” job level, can earn base salaries of $300,000 or more, but the verified Google professional reports a total compensation package of $1.5 million—split between a base salary of approximately $400,000, a bonus and stock-based compensation. The annual cash bonus is 30% or $120,000, which means directors of engineering can receive about $1 million in restricted stock units each year.

For most people, the annual compensation is enormous. It seems within the tech sector that over $1 million is just okay and on “the low end of externally hired directors at FANG,” the acronym for leading tech companies Facebook, Amazon, Netflix and Google. The director said leaders at Amazon tend to earn less compared to the other top technology companies.

That's a tiny fraction of the workers. it is so tiny and insignificant, I don't know why you would cite this in a macro economic discussion.

 

[mastermind]

I ask myself this all the time. I'd think not much more, but who knows? In some ways I think people are just appeased enough with iPhones and Netflix and social media, and so overworked and stressed and out of shape that they don't have the interest or the means to do much about it.

On the other hand it does seem something has to break. The system is absolutely not sustainable.

Americans are docile and believe in the currency of being American versus having material goods (its the same as white supremacy with whites too).

It would take a severe economic downturn for that to happen, and with our guns and bombs, that won't happen in our lifetime.

 

[greenvale]

I ask myself this all the time. I'd think not much more, but who knows? In some ways I think people are just appeased enough with iPhones and Netflix and social media, and so overworked and stressed and out of shape that they don't have the interest or the means to do much about it.

On the other hand it does seem something has to break. The system is absolutely not sustainable.

We are a nation of distractions.. the time for real change was in the beginning of the pandemic when you had no choice but to realize how shytty it can be here. What did most Americans do? Complain and cry about no sports/entertainment/etc.

In 10 years car companies gonna be charging a monthly fee to use your A/C and people gonna accept it

 

[Gritsngravy]

Well this story gives further validity to the world economic forum when they said you will own nothing and be happy

 

[Brian O'Conner]

I heard a quote this year that said America is a 3rd world country that's rocking Gucci.

That's true in a sense but to me true 3rd world is not having access to stuff like clean water and electricity. We're still not there yet.

Also the average worldwide pay is something like $2 per hour. So even if you are making minimum wage here you are still doing better than most of the world. But with inflation going up affecting stuff like food gas and rent...and pay being stagnet we are getting there

Breh still got some time imo but make some moves while you can cause usa might be looking like those megacities in judge dread 20 years from now

 

[TheDarceKnight]

That's true in a sense but to me true 3rd world is not having access to stuff like clean water and electricity. We're still not there yet.

Also the average worldwide pay is something like $2 per hour. So even if you are making minimum wage here you are still doing better than most of the world. But with inflation going up affecting stuff like food gas and rent...and pay being stagnet we are getting there

Breh still got some time imo but make some moves while you can cause usa might be looking like those megacities in judge dread 20 years from now

No doubt.

I actually made a move to get out of a big city recently. I've spent most of my life in cities. I'm not totally off the grid, but as I get older the more I'm wanting to get away from as many people. Running a small business and doing some online remote work on the side. I don't want to be too far from hospitals and grocery stores, but besides that I'm getting more and more interested in being around more nature and animals, etc.

 

[mastermind]

That's true in a sense but to me true 3rd world is not having access to stuff like clean water and electricity. We're still not there yet.

It depends on where you live. There are pockets of this country that do not have access to clean water and high-speed internet, and there are poor people who go without electricity because its expensive.

 

[TheDarceKnight]

couples with high paying jobs or people who get bonuses and/or stocks can save a lot. for example an engineer at a publicly traded tech company will probably get 50-70k in bonus and still get their RSU which can be another 50k. combined with their salary and their partner's salary they can save up a lot and save it fast.

Setting aside @mastermind 's great point that not everyone is in big tech, I'd like to add onto that and say that not everyone should have to work in a high paying industry in order to have a shot at living a good life.

I hate this idea that everyone that doesn't have the personal inclination (or frankly the privilege) to go into engineering/coding/tech fields should be doomed to not be able to own homes or have nice things.

Oh, you couldn't afford to go to college. Too bad, I guess you have to work two full time jobs forever and still be broke. Oh, you could afford to go to college but chose to pursue a liberal arts degree? Terrible decision, and you should have to pay for that mistake forever."

I'm not saying you specifically are saying those things, but I do see these arguments a lot. Not everyone is meant to be an engineer. People that aren't wired for high powered jobs still deserve a chance at a decent life. And frankly I feel the same about the poorest people too. There are going to be poor people in any way we set up society. I don't think it's too much to ask that they not live in squalor.

 

[TheDarceKnight]

It depends on where you live. There are pockets of this country that do not have access to clean water and high-speed internet, and there are poor people who go without electricity because its expensive.

Good point. It might be too famous an example, but the water in Flint was fukked up for over half a decade.

 

[Strapped]

Any misguided law they make will eventually hurt the individual seller or buyers .

 

[mastermind]

Good point. It might be too famous an example, but the water in Flint was fukked up for over half a decade.

Not just Flint
A Black town’s water is more poisoned than Flint’s. In a white town nearby, it’s clean

'Damage has been done': Newark water crisis echoes Flint.


And there are rural places too that have poor water systems.

 

[Wild self]

It depends on where you live. There are pockets of this country that do not have access to clean water and high-speed internet, and there are poor people who go without electricity because its expensive.

Some people really want the world to burn, for instant profit

 

[Wild self]

Setting aside @mastermind 's great point that not everyone is in big tech, I'd like to add onto that and say that not everyone should have to work in a high paying industry in order to have a shot at living a good life.

I hate this idea that everyone that doesn't have the personal inclination (or frankly the privilege) to go into engineering/coding/tech fields should be doomed to not be able to own homes or have nice things.

Oh, you couldn't afford to go to college. Too bad, I guess you have to work two full time jobs forever and still be broke. Oh, you could afford to go to college but chose to pursue a liberal arts degree? Terrible decision, and you should have to pay for that mistake forever."

I'm not saying you specifically are saying those things, but I do see these arguments a lot. Not everyone is meant to be an engineer. People that aren't wired for high powered jobs still deserve a chance at a decent life. And frankly I feel the same about the poorest people too. There are going to be poor people in any way we set up society. I don't think it's too much to ask that they not live in squalor.

Tell that to them c00ns in TLR. I swear that I would swing a sledgehammer at them greedy fukks.

Not even out of anger, but out of decency.

 

[ahomeplateslugger]

You realize most millennials arent working in the Tech field.

my comment was explaining to the poster i quoted about why homes are going for 1+ million in the bay area not sure why you even quoted me with that since i never mentioned millennials in my original post.