12/12/19, 2018 GDP by Metro Release... (live, places, population, Atlanta)
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Yeah me too. I don’t think it’s normal that a country as large as ours has 8 years of straight growth. It’ll correct itself. Now whether the correction is a 10% correction or a 40% correction is a big question. Sometimes you need a recession to reset the market.
But if you aren’t an academic and worried about how to survive as a working person, welp!
I mean when a metro like San Jose increases it's GDP per capita by 50k in 5 years(That's more than entire countries like the UK, France, Japan), clearly, there's a bubble somewhere in there. The Tech industry is overvalued right now. The correction will hit Tech the hardest. It'll be interesting to see what the GDP numbers look like in a few years.
You restated my argument in almost the exact same way I gave it. I’m glad murk understood it better coming from you I guess, but it feels deliberate.
From my perspective, you guys were talking past each other. His focus was mainly on the cities/MSAs of Richmond and Raleigh whereas you were taking the entire Triangle into consideration.
Quote:
At any rate, I already provided the city and county GDP’s for Richmond/Henrico/Chesterfield and Wake/Durham. You can mix and match as you wish though.
This is true. I think perhaps Wake and Richmond/Henrico would be a good comparison.
And we were obviously talking past each other. I was explaining why the MSA info for Raleigh isn’t comparable to other areas, murk wasn’t having it for obvious reasons.
Just for ships and giggles, the entire Greater Richmond Area (cities of Richmond, Petersburg, Colonial Heights, and Hopewell; counties of Amelia, Caroline, Clark City, Chesterfield, Dinwiddie, Goochland, Hanover, Henrico, King William, New Kent, Powhatan, Prince George, and Sussex) covers over 4,500 square miles and has a collective GDP of $75 billion.
The business leaving California arent corporate giants for the most part, they are small businesses. To be honest, if you did own a small business (that wasnt a tech start up, in the tech industry, or in the entertainment industry), why would you stay in California or set up shop there in the first place? The tax burden is much higher, the cost of operation is much higher even without the taxes, and the cost for talent is much higher but the quality of talent isnt much different. On the later, if its something like tech talent, I get that theres no place like the Bay Area but you dont have to be there to get good talent.
Absolutely true, talent is everywhere, but what sets the Bay Area apart aside is funding capabilities. Silicon Valley has it's own, in-house Wall Street, in Palo Alto and Menlo Park, run by extremely hands on, extremely tech savy investors who infused cash into everyone from Apple to Microsoft to Google to Amazon, when they were still dreams in the minds of their now iconic founders.
China is the only place in the world Ive seen that is able to compete because:
1. The Chinese govt and its endless credit card funds projects and streamlines red tape-what red tape?
2. They block our companies from dominating there like they do everywhere else.
3. They actively spy on Silicon Valley companies and start ups. This area is full of spies from China but really from all over the world---it's actually somewhat hilarious.
I mean when a metro like San Jose increases it's GDP per capita by 50k in 5 years(That's more than entire countries like the UK, France, Japan), clearly, there's a bubble somewhere in there. The Tech industry is overvalued right now. The correction will hit Tech the hardest. It'll be interesting to see what the GDP numbers look like in a few years.
San Jose is doing what San Jose does every decade, shakes the world, regroups, and then shakes the world again.
I mean when a metro like San Jose increases it's GDP per capita by 50k in 5 years(That's more than entire countries like the UK, France, Japan), clearly, there's a bubble somewhere in there. The Tech industry is overvalued right now. The correction will hit Tech the hardest. It'll be interesting to see what the GDP numbers look like in a few years.
It depends on what part of the tech industry you're in. Innovation Tech much like what is found in the SF / SJ Bay area hits like a freight train in terms of economic weight.
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