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Strategies & Market Trends : Raptor's Den II -- Ignore unavailable to you. Want to Upgrade?

To: Win-Lose-Draw who wrote (354)	4/20/2003 8:58:32 PM
From: stomper	Read Replies (1) \| Respond to of 3432

None of my group is high tech at all. I wonder if your group is/was more sensitive to the reality of the bubble and the market generally because of options grants and such. Interesting, thanks. -dave

To: Win-Lose-Draw who wrote (354)	4/20/2003 9:44:31 PM
From: XBrit	Respond to of 3432

<<many [high-tech professionals] are unemployed, most are struggling, none are playing the market. many were also H1-Bed out of the country, if you know what i mean. (making no claims it is representative of the world at large.)>> That is exactly representative of Silicon Valley. We (my SO and I) know many, many highly qualified tech professionals who have been unemployed for >1 yr. We know even more who were essentially wiped out when the Nasdaq went bust. They have their jobs, cars, a heavily mortgaged house, and little/no other savings left. The people who were actually living the bubble were the ones most caught up in it and least sceptical, right until it was too late. I have a friend who makes jewelry, and sells it from stalls at art fairs. She was making a meager but OK living up until last year. The last 12 months, her total sales are zero. Nothing at all. It's that bad here. Silicon Valley has probably lost 30-35% of all tech jobs since mid-2000. The unemployment numbers do not reflect this, not even close. Huge numbers have been deported, or left the area, or just stopped looking. The real truth is seen by looking at office space vacancy rates. True vacancy rates (including space which is leased but nevertheless empty) are around 35-40%, compared to under 5% 30 months ago.