You can’t live in Silicon Valley and be a total pessimist. The nature of the place is optimistic.
But I sense that people are failing to remember that history does teach us things. And I’m astonished at our collectively scant attention span.
More in my Sunday column.
P.S.: I hope I’m wrong…
Posted by: James on July 28, 2003 08:59 AM
The NY Times has a good article today on the affect of the budget crises in many states on the national economy:
http://www.nytimes.com/2003/07/28/business/28ECON.html?hp
One scary thing is that the States are relying on optimistic growth rates on the future to try to limit cuts now. This piper will have to be paid eventually if the economy doesn’t speed up.
Posted by: Jason Anderson on July 28, 2003 05:13 PM
As a “professional” student at UC Berkeley, I found great amusement in the class-action suit. I also found it quite interesting that the first place I heard about the suit was not from the school, or from my peers, but from Dan Gillmor’s blog.
Unfortunately the implications of the tuition hike will likely be quite severe. Some students will not return in the fall, and the price of education for our out-of-state colleagues is very unattractive.
Posted by: shinji on July 30, 2003 07:09 PM
When I have seen a bubble economy in Tokyo fifteen years ago, I was not sure what is going on. I could not believe how people behave on the great economy. I could not really believe this would continue. In 1992 the bubble bursted. Even after the burst, Japan kept ignoring simple and logical rules of economy. The economy is still in a major deflation a decade later.
I moved to Silicon Valley in 1992. The economy was not exactly in a good status yet. As you know, it went into a major growth stage. However, in 1998 the level of growth was way more than reality. I had to say “Uh-oh, here we go again” just like you. Obviously US did not really learn from the other part of the world. Unfortunately this “uh-oh” won’t be the last one. I guarantee it. I can see many of those in our world history. It is not like no one told you…
Posted by: joe on July 27, 2003 01:32 PM
to add to the gist of your column: UC and state-school tuition just went up by 30% [1]! Which has sparked a law student-led, multi-million dollar class-action lawsuit [2] against the Regents.
[1] http://www.dailycal.org/article.asp?id=12200
[2] http://www.dailycal.org/article.asp?id=12229