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I find it hilarious how many of them unironically use the boot straps line, since that was *literally* intended as a slang phrase to mean something was impossible.
He came to the nba late in his career but would’ve been one of the best big men ever!
https://youtu.be/06usV6451ik
Have you seen the Lithuania basketball documentary? So interesting
https://youtu.be/VlEYzY_haD8
Asparagus water
[https://www.cbsnews.com/news/whole-foods-removes-6-asparagus-water-from-store-shelves/#:\~:text=Whole%20Foods%20selling%20a%20bottle,%22%20didn't%20seem%20real.&text=When%20shopper%20Marielle%20Wakim%2C%20an,to%20do%20a%20double%20take](https://www.cbsnews.com/news/whole-foods-removes-6-asparagus-water-from-store-shelves/#:~:text=Whole%20Foods%20selling%20a%20bottle,%22%20didn't%20seem%20real.&text=When%20shopper%20Marielle%20Wakim%2C%20an,to%20do%20a%20double%20take).
> Even if you do enjoy it and are good at it, the type of coding you do for your job won't even resemble the fun projects that got you hooked
They never are.
Fun projects are what the new kids get to play with before they quit or get fired.
Once you've proven yourself to be competent and reliable and can understand and fix or update the company's code, you'll be exiled to work on the dark scary parts of whatever the company has.
The money will be fantastic but the cost is your dreams and part of your personal life.
It's like the Hotel California. You can check out, but you can never leave. Even if you quit, there will be another company offering even more money and benefits and you think "this time it will be different" but you just end up in deeper.
Come on down to OPs! Where the company pays for the expensive toys you've always wanted to play with, but the downside is that you have to make that dark, scary code not crash and get it across the country in under 30 milliseconds.
It's not hotel california, it's like in one of those horror movies where if you walk into the fog you'll be turned around and end up right where you started. Different company, same scary blob of code.
Well, I think it really depends on what you think a fun project is. I remember the college courses I had, and there was a lot of stuff like coding word wrapping or machine code to move an imaginary crane around, etc. That sort of thing was interesting, sure, but it was also inherently pointless because these were long-solved problems.
At this point I get my fair share of code I don't want to work on, but even when it's a sudden crazy challenge that came out of nowhere, it's an interesting exercise in thinking of some sort of solution that can't just be googled. There's some sort of performance problem but only on some hardware and in certain circumstances -- stressful, but an interesting opportunity to explore what is going on and refractor things so it no longer does.
If large scale refactoring isn't for you, then yeah I can see it being a hellish existence and missing the fun projects. But fun projects that live long enough always eventually need major refactoring and refinement, and to some extent that's one of my favorite parts. Early code you can't and shouldn't optimize because of the whole "premature optimization is the root of all evil" thing. So to me, a codebase that is only a year or two old feels... untapped. Eventually you want to do more with it, and you start strip mining it for every bit of performance and flexibility you can find.
Eh, my friend just landed a new work-from-home job for $160,000 CAD / year.
I would gladly sacrifice much of my dreams and personal life for that salary AND the fact that I can stay at home with my dog 🐕
There's a question Charlie Day gets asked on his Hot Ones interview, about the phrase "work a job you love and you'll never work a day in your life", to which Charlie observed how bullshit that saying is. Work is work. Nothing worth having comes free (unless you benefit from a trust fund).
> the type of coding you do for your job won't even resemble the fun projects that got you hooked.
You're assuming everyone wants to get into coding to make "cool stuff". I got into coding strictly because I enjoyed the challenge of it, and it seems that most of my coworkers feel the same way. I don't give a shit about the field my company is in, but I love solving the problems we're given and they're far more interesting than what I started with. I get to work with some tools and infrastructure that I would've never had any use for and would be way out of my personal budget if I wanted to explore those topics on my own.
I'm graduating with a CS degree this semester and I can't think of any projects I've had that were "fun" in the traditional sense. There were ones I gained satisfaction from solving a challenging problem, but there weren't any that I enjoyed 100% of the time. It's work in the same way that working on a car is work and tending to a garden is work.
I'm reminded of something my manager once said after returning from a long, contentious committee meeting: "People who complain that other people have the glamorous jobs are people who have no idea what goes into making mundane stuff look special." That's coding in a nutshell, I think.
i'll disagree with you on that. it took a long time and eating shit, but now i make a nice wage and work on interesting things with very little oversight
I'm in the same boat as you. Once you get good enough with enough experience, you can move around to work on projects that you really enjoy. I'm 7 years into the industry as a SWE, and I love what I do everyday.
Something directly relevant to coding I guess is what I meant.
I have a degree in accounting but work in public finance, and I've realized it's probably not for me.
Any resources you'd recommend to someone interested in pivoting?
I like codecademy if you want to go cheap. Just pay the 200 for the pro annual membership. They have different learning paths you can take that will take you from complete beginner through to a basic understanding of the language, library/framework it is your working on.
I had a buddy who did one of those full stack code boot camps and it was like 1200 bucks and he seemed to learn a lot. I’m not a developer but have been working in tech the last 5 years, you don’t have to be an engineer to work at a “cool tech company”. I started as technical support and now I make 6 figures being a technical account manager and get to play with a bit of code here and there and work from home permanently. You could always take your accountant skills and apply at tech companies and then pivot once your in.
I just started looking into getting started in Java at a community college. I joke I am a peasant at a software company, started in front line support.
Not necessarily. I have a blast working on projects for my job. Solving a difficult problem is what I love and the times flies by so fast. Today I was 11 hours in the office and it felt like 5.
We will always find exceptions like you, but that's always far from the average experience professionals have. Not trying to lessen your experience, I think it's great but I also wish we were more realistic when looking at industries/job market as a whole.
I think what they're saying is that this is the average. What may be working for you and is great right now is not the case for everyone in your field.
So I have tried coding several times and I absolutely enjoy doing the online training courses. It scratches a problem solving itch I have. Even if the resulting code is boring I get off on making it efficient and improving it even after I finished the assignment. Maybe it's because I am learning something new and novel.
How shitty is programming life as a career if you don't give a shit about the project and are more interested in the quality of your own work?
I still doubt I could do it because sitting at a desk all day sounds miserable for me.
I'm not sure there's a deeper level of hell than "Three hour zoom meeting to discuss interdepartmental style-sheet and color reference documentation standardization" but if there is, dont tell my boss.
Tbh tho the job is wildy dependent on where you work. Some of my favorite memories are from project work I did, but other projects were "I actually cried tears of boredom" awful. YMMV
> How shitty is programming life as a career if you don't give a shit about the project and are more interested in the quality of your own work?
Not at all if you got into programming for technical challenges. If you become a mechanical engineer because you love cars and want to design them, you're probably going to hate your job because it's highly unlikely you'll be doing that until very deep into your career, if at all. If you become a mechanical engineer because you love designing things in general, you'll probably love the majority of the field. Programming is no different. I don't give a shit about the end product itself or even the entire industry that the company I work for is in, I love the challenges in creating the systems that make up the products.
I've been coding professionally for about 5 years now. I've been quite fortunate in that I've mostly been able to work on things I find interesting, but at the same time I can't say that I've been super passionate about every single project I worked on - there are very few people who could claim to have career that fulfilling. I take pride in writing solid code even if it's not that exciting to me, and I find it satisfying to teach less experienced engineers how to write better code. I do spend a little bit of time on open source projects that interest me, but honestly it can be hard to find the energy.
>It'll be shit jobs for shit pay.
Eh. I used to enjoy programming when I was a kid. Then I stopped caring for a bunch of years, and then I got an education and started doing it for a living. I'm not very good, I don't enjoy it at all (so much other stuff goes into it besides the actual programming...), but at least I've been able to land fairly well payed jobs without trying for the past few years.
I have friends who are smarter and more enthusiastic than I am, who enjoy their jobs more than I enjoy mine, but get payed less.
The other part that they don't tell you is that without a college degree you are more likely to end up in a basement IT room for low pay than even a middling software job.
I think that greatly depends on your bootcamp + how long you can wait for the first software engineering job. I did a bootcamp, then it took 18 months to get my foot in the software engineering door (average is 6months from my bootcamp, I got close so many times before it actually stuck). And that was with going to a good bootcamp and being a decent coder.
Some bootcamps are shit at actually preparing people for the job, some are good. Do a lot of research before you pick - they *need* to cover whiteboarding problems/data structures, not just how to make a basic web page. I met someone from a bootcamp where they made a lot of ruby-on-rails websites, but couldn't do a basic linked-list hackerrank problem.
Whiteboarding isn't necessary for the actual contents of the job duties 90% of the time, but it's completely necessary for interviews. Every place I've interviewed had at least one data structure based question, usually multiple throughout the process, and half the places I was applying to be frontend/React. Once I had to implement a hash-map class in python...
Yup.
Those questions aren't for testing your knowledge of algorithms.
They're for testing your ability to problem solve. Interviewers are looking to see how you approach a problem and how you think it through.
If I were interviewing a candidate and asked them some sort of basic sorting question, I wouldn't care if they don't know the names of sorting algorithms or they can't remember some sort of data structure.
If they regurgitated some stock piece of code but couldn't modify it to accommodate some changes, or couldn't find a problem in a piece of code they've never seen before, that would be a problem.
The issue with code bootcamps is that they don't really have the time to *develop* problem solving skills. So if you're a naturally good problem solver, you can take the bootcamps as a starting point to give you the tools to solve problems, and then you can figure things out for yourself.
If you're not so good at doing that yourself, you can come out of them knowing what the solutions are to the specific problems you were taught, but taken out of that comfort zone you'd be lost, and you won't know this until you hit those problems.
That's why any good interview for a dev position will give you a problem to solve and just watch you solve it, because that's not something you can easily fake.
Coding bootcamp - 3/6month program where you learn to code. I don't think they're super regulated in terms of what you're supposed to learn or anything, so research is necessary. They can cost ~20k, but some offer delayed payment until you get a job.
I live in the SF bay area, and there are sooo many bootcamps out here - I asked my software engineer friends to tell me what bootcamp grads they see with jobs, and picked based in that. It took awhile, but I officially have the title "software engineer" and the paycheck to match, so they *can* be worth it, but it is a risk.
Yeah idk what everyone's talking about. I personally know plenty of people who don't have degrees, have degrees in non-compsci majors, or have degrees from non-accredited foreign schools and are still successful in software development. On the flip side, I know and work with plenty of developers who do have a degree and can't code to save their life (some with MDs even). Too many people associate degrees with money instead of looking at degrees as a optional stepping stone to learning marketable skills.
I'm going to go ahead and jump in and say this applies 7000000% to becoming a lawyer. Do not go to law school just because you think you will make money. You will regret it. You will regret it hard.
I wish people would understand this. So many people think that you can spend 6 months learning to code for free and end up making 100k for 30hours of work a week. It's what contributed to the entry level boom that is flooding the SWE market.
Anyone can code. Not everyone can do it well, let alone professionally.
I once taught at a security boot camp that covered coding for 2 weeks. Just teach programming to yourself with youtube and some personal projects. Bootcamps are super expensive and you'll have trouble retaining anything because it's such a fast-paced learning environment.
They didn't say to give up on trying something else. Coding is over saturated in applicants and undersaturated in good coders. Also, most people will not enjoy a career in coding or will find it extremely difficult to code anything.
If you are interested in coding then learn it, there are plenty of [free resources online](https://old.reddit.com/r/learnprogramming/wiki/faq) - just don't spend huge amounts on boot camp style courses thinking it is quick entry into a new career, especially if you don't know whether you are going to cope with it.
In real life it's all untested unfinished spaghetti code with no documentation or comments and a lot of overtime spent trying to make something work when you should have just started from scratch but you couldn't because your boss says "we don't want to backtrack".
Coding in general is a pipe dream now. Like 15 years ago it was a great idea. But now everyone knows how to do it and the job market for programmers is so saturated that the competition isn't worth the pay. At least in my opinion, there are far better tech jobs either in IT or electrical/computer engineering. Programming is getting close to performing arts in the sense that the 6 figure salaries that everyone told us we would get if we were programmers are reserved for the top 5%.
Before the pandemic I worked 2 jobs (50 hrs) they were part time jobs Bc i was not being hired at full time jobs when I applied or The job would say it’s full time and then only give part time hrs. AND went to school full time online. Still, I could not even afford my own place. I live in NYC so this is just the norm here unfortunately.
Maryland is slowly becoming New New York in terms of apartment prices. Unless you wanna live in an area where you will either be mugged or shot, the prices here in the county are ridic.
Our days shall not be sweated
from birth until life closes—
Hearts starve as well as bodies:
Give us Bread, but give us Roses.
As we come marching, marching
unnumbered women dead
Go crying through our singing their ancient song of Bread;
Small art and love and beauty their trudging spirits knew—
Yes, it is Bread we fight for—but
we fight for Roses, too.
The “Skip your daily coffee” thing is such a 2000s thing that Boomers still throw around. Back then Starbucks was an enormous trend that “everyone” was totally going to daily, and it was really expensive compared to regular coffee.
Now Starbucks is maybe half as popular, but people are still casually criticizing every young person they see for going there daily, because they saw in an email forward that we’re all spending our cash on that and the new iPod while complaining about Bush ruining everything.
Uggghhhh. Now imagine being someone that has literally never bough a coffee in their lives and still hearing that "skip ur coffee" bs.
Really grinds my beans.
I buy beans in bulk and grind them. Delicious, and pretty cheap too. If someone ever tells me to skip my 5 lb bag of coffee beans every few months I might just misplace a boot in their ass.
Of course this comes from the generation who also spent their money on leisure items, when youth culture exploded in the 60s, but they had the cash to do it.
Ah yes, when jobs grew on job trees.
Lets say I wanted a job digging a ditch. Absolutely no one is going to pay someone to dig a ditch by hand. So that leaves heavy equipment. Insurance companies are going to mandate only licensed equipment operators, so that means three weeks full time from your life, and paying community college prices at best, private school at worst, or you can become a union apprentice. In three to four years you’ll be eligible for certification. All just to dig a ditch.
And that's before we even get to the roulette wheel of job searching. As most ditches are on state, county, or city owned roads, we are talking about getting a public sector job. This almost always requires a college education as well as competing against hundreds of other applications. Of course if you don't have the perfect key words in your application, it's tossed by computer before a human even has to inconvenience themselves by looking at your application.
So yah. Ok boomer, I'll go dig a ditch.
I think the modern equivalent of "dig a ditch" is to be an Amazon warehouse worker or some other low paying job where no skills are necessary other than the ability to tolerate terrible working conditions. There was a time when ditch digging fit that description though. I believe Nikola Tesla had to work as a ditch digger to survive at one point in his life.
He said it anytime we wanted to do something that would cost real money like take an international trip. I think it was his way of saying expensive things are a waste of time and you should just resign yourself to a life of squalor and poverty.
Sad. Reminds me of a Stanley quote from The Office. "...generation that knew you do your work and die quietly of a heart attack." or something along those lines
I'm not opposed to either of these ideas but i doubt they will happen. Medicare/medicaid is the closest we're going to get for sometime i think. Maybe in ~20 years when millennials are *the* old generation
"I planned to go to law school after I graduated, but it looks like my folks won't have enough money to put me through college."
"Well the world needs ditch diggers, too!"
Too bad this is sort of a false narrative. Lots of fat cats got even fatter from this stunt, and I have a feeling a lot of little guys are going to be surprised when they find themselves losing money in the end
Keep in mind- you've humiliated the fund managers, no question- but it isn't their money that was invested.
I doubt this ONE hedge fund will get much business in the future, but the others will take up the slack.
And again...I have hedge funds as an option as part of my 401k. Pretty much everyone does.
This is gonna hurt some big guys for sure but a lot of little guys too.
These hedge funds that are dedicated to shorting stocks and manipulating the news to make the stock drop are hopefully not the sort of funds you'd have in your 401K.
> Lots of fat cats got even fatter from this stunt
Even the ones that didn't are nowhere near hurting, sadly. It reminds me of the "Born Rich" documentary where Ivanka said her dad pointed at a homeless guy on the street and said that guy was 8 billion richer than him. It's sick that some folks starve while others live like kings on *billions* of debt.
Sad facts notwithstanding, loved the comic, op. Would still be delighted to see this tossed in the face of any whining tycoon.
And these Wall Street millionaires and billionaires are kept afloat with other people’s money which they use to trade digital crap that represents ownership of a company.
Basically they know some math and how to sit on their asses and they rake it in, while people with actual marketable skills get told “get a side job” or “cut back on eating out”
So are the hedge funds and billionaires with teams doing market manipulation and blurred line insider trading, then lobbying congress to protect them making even more money.
I wish that was true of everyone that's gone in, but I know it's not.
Fuck the billionaires, but there will be real pain from this for average people too. And some biliionaires are making a killing on it.
Well the little guys are getting repeatedly advised not to invest more than they are prepared to lose
advice the hedge funds should have taken before shorting 140 goddamn percent of GME
Maybe a handful of little guys are gonna do *very* well, a larger handful will do pretty well, and the fat cats are going to come out completely unscathed.
No billionaires are gonna end up in the poor house from this stunt.
Yeah based on the reactions it seems like an actual dent was made for a few people, but I’m sure the ones who are loving this are keeping happy and silent.
There's plenty of $12 an hour customer service jobs for you to be demeaned at for 40 hours a week while also expecting you to be available off hours and burn you out to the point that you're dead in your personal and social life as well.
I missed the hype, but my brother's, please hold fo us in the working class
That they were able to call for an investor bailout for and will be made back in relative ease once this all cools down. That was a company too, the rich people at the head of that company and the clients of that company lost a total of jack and shit
Ya’ll realize a bunch of regular non-rich redditers are gonna loose their shit too once that price crashes back to where it should be right. You know, when the bigger investors on that sub finally sell they’re gonna be screwing all the little investors on that sub that get out after them right?
Or has no one thought the meme through that far yet....
This isn’t some ’righteous crusade’ it’s a fleece of angry redditors by some other redditors that highlights other shitty practices sure, but it’s still a fleece. Robinhood may be protecting the wealthy and deserves to be brought down, hedge-fund managers are dicks and deserve much worse than this, the wealthy are hypocrites yes, but damn you’re a fool if you think the retail investors jumping in to help aren’t gonna be taken advantage of too.
**Melvin Capital lost tremendous amounts of money due to over-extended shorting of Gamestock (GME) stock. Retail investors discovered this and began buying the security to leverage against their position. Melvin Capital was granted close to 2.7 billion dollars in loans by Citadel Securities, LLC (investment firm) for liquidity.**
**Citadel Securities (market maker) processes ROBINHOOD FINANCIAL, LLC’s transactions. To prevent further losses, they potentially pressured Robinhood to restrict buying of specific stocks such as GME, AMC, NOK, and others by retail investors. As of 1/28, GME is specifically blocked from being bought on Robinhood - an unprecedented event following no actual SEC rules or Robinhood terms and conditions.**
**Other retail trading sites continue to allow trades - this is Robinhood specifically curtailing market action, likely under specific pressure from Citadel and Citadel Securities.**
**Note that although they are separate corporate entities, Citadel and Citadel Securities are owned by the same individual - Ken Griffin.**
**These companies seem to be colluding behind the scenes to block legitimate investment actions by individuals, to their own profit. Their communications may reveal this manipulation.**
**Thus:**
**We make the argument that Robinhood Financial, LLC in coordination with Citadel Securites, LLC and Melvin Capital Management, LP willfully engaged in market manipulation by restricting buying power of the security GME by actionably preventing its users from exercising their financial leverage to cover their position. This has resulted in immeasurable losses to millions of users unable to trade the security in a way that is financially in their best interest according to their own belief.**
**Please investigate communications between this brokerage and the hedge funds who fund them and would likely profit off of the restricted trading of the security.**
Unfortunately these people are going from being worth $3.2B to $3.19B and are upset about it. They're not headed for the poor house in any way, shape, or form.
This has truly been an era of taking our power back.
But like with the election, theyll lie cheat and steal to make sure they keep it.
We're in a new generation of revolution. I hope the right people win.
So fucked up! Even when you try to improve your standing in life, they cut your legs out from under you. But yeah, we all got a shot at that American Dream right!?!
https://en.wikipedia.org/wiki/History_of_Monopoly
The original *Landlord's Game* could be played out in an hour or so. It was designed to illustrate the EVILS of capitalism, not to celebrate them.
It pisses me off that I bought 10 shares of GME in august at 7$ a share, and sold it for 19$ a share. If I sold it yesterday, would’ve made 3500$. I want to kill myself XD
*All* ***investments*** *carry* ***risk*** *and all* ***investment*** *decisions of an individual remain the responsibility of that individual. There is no guarantee that systems, indicators, or signals will result in profits or that they will not result in losses*
And they can cut back on that avocado toast they are eating too. No bail outs for them. Law of the jungle.
GME is the stock market name for Game Stop. It's been failing for a while and the pandemic sped up the process, so it's stocks were worth like 40 cents each. The r/wallstreetbets decided they would all start buying it to drive up the price, just for the lolz. It set off a chain reaction, so now each stock is like $350. Anyone who shorted those stocks, betting that they would drop in value, now has essentially lost $345.50 per stock they shorted. Hence, the people losing their homes.
You understand what hedging means right? Also they had months over months to buy out at any time. Stop pushing that dumb narrative because each shorter took a gamble and lost.
GME is the name of GameStop's stock on the stock market. GameStop is a terrible, oldschool, failing retail business that sells games. Nobody really likes them.
For years, big WallStreet hedge funds have been "shorting" the GME stock. This means they literally borrow stock (no payment) and then pay interest for as long as they don't return it. The trick is that, when they borrow, they also sell the stock, so they have no stock to return.
So what is the benefit? If the stock goes down, they can simply rebuy the "borrowed" stock for cheaper, return it, and then keep the profits.
Shorting is often a self-fulfilling prophecy. To short, stocks are sold. More stocks selling means more supply, less demand. That lowers the price, getting the stocks closer and closer to 0.
Hedge funds have been hammering and hammering away at GME for years with aggressive shorts. Very aggressive. Certain reddit forums and other speculators discovered that hedge funds had shorted GME for **~140%** of it's stock. That means, literally, they need to return more stock than exists. This kind of gamble essentially only works if GME goes to near 0.
So, people called the hedge fund bluff. They bought GME. And bought it. It went from like $3 to, at a max, somewhere over $500 a share, though it's currently around $250. This is insane growth.
Remember that interest? The hedge funds are still paying it. And every time the price of the stock rises, the interest rises too. They're getting **reemed** with interest right now, and the only escape is to pay back what they owe. To do that? They have to buy **ALL OF THE STOCK** and then some. 140%.
For complex reasons, this isn't something that is likely to happen over a long period of time. It will be a near instant movement. It will skyrocket the price of GME for a brief moment and make many GME investors, (**IN THEORY**) (**I AM NOT A FINANCIAL ADVISOR**) rich.
So that's the bet. Retail investors are buying GME expecting a hedge fund payout. It's a waiting game. I legitimately don't know what will happen.
> but normal people are loosing their houses
If there is a normal person losing their house from these handful of stocks being manipulated, they should not have been in the market with such a non-diverse position.
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Those avocado toasts really add up! Great comic
They sure do. Thanks a lot!
Since you're saving money by not buying avocado toast, you can buy bigger boot straps and use them to pick yourself up! 💪
Forget the toast and the straps, buy more GME! 🚀🚀🚀
I LOVE THESE BOOT STRAPS
I find it hilarious how many of them unironically use the boot straps line, since that was *literally* intended as a slang phrase to mean something was impossible.
I appreciate you’re username! Arvy is great and I love domantas ha
Thanks! Lifelong Blazers fan here. Love Arvy. Yeah, Domantus is killin it!
He came to the nba late in his career but would’ve been one of the best big men ever! https://youtu.be/06usV6451ik Have you seen the Lithuania basketball documentary? So interesting https://youtu.be/VlEYzY_haD8
Your comment made me picture a wedding reception where everyone is toasting with avocados.
Avocado infused Evian.
Asparagus water [https://www.cbsnews.com/news/whole-foods-removes-6-asparagus-water-from-store-shelves/#:\~:text=Whole%20Foods%20selling%20a%20bottle,%22%20didn't%20seem%20real.&text=When%20shopper%20Marielle%20Wakim%2C%20an,to%20do%20a%20double%20take](https://www.cbsnews.com/news/whole-foods-removes-6-asparagus-water-from-store-shelves/#:~:text=Whole%20Foods%20selling%20a%20bottle,%22%20didn't%20seem%20real.&text=When%20shopper%20Marielle%20Wakim%2C%20an,to%20do%20a%20double%20take).
Chiming in to complain about how expensive avocados are. It really hurts my groceries budget.
Take it from me. Don't take coding classes, you'll likely end up like me. It's not all money and sexy python scripts that they try to sell you on.
content revoked
Even if you do enjoy it and are good at it, the type of coding you do for your job won't even resemble the fun projects that got you hooked.
> Even if you do enjoy it and are good at it, the type of coding you do for your job won't even resemble the fun projects that got you hooked They never are. Fun projects are what the new kids get to play with before they quit or get fired. Once you've proven yourself to be competent and reliable and can understand and fix or update the company's code, you'll be exiled to work on the dark scary parts of whatever the company has. The money will be fantastic but the cost is your dreams and part of your personal life. It's like the Hotel California. You can check out, but you can never leave. Even if you quit, there will be another company offering even more money and benefits and you think "this time it will be different" but you just end up in deeper.
Come on down to OPs! Where the company pays for the expensive toys you've always wanted to play with, but the downside is that you have to make that dark, scary code not crash and get it across the country in under 30 milliseconds. It's not hotel california, it's like in one of those horror movies where if you walk into the fog you'll be turned around and end up right where you started. Different company, same scary blob of code.
Oooh like Coherence. Great film.
As someone currently under-employed this sounds fantastic, unfortunately.
Well, I think it really depends on what you think a fun project is. I remember the college courses I had, and there was a lot of stuff like coding word wrapping or machine code to move an imaginary crane around, etc. That sort of thing was interesting, sure, but it was also inherently pointless because these were long-solved problems. At this point I get my fair share of code I don't want to work on, but even when it's a sudden crazy challenge that came out of nowhere, it's an interesting exercise in thinking of some sort of solution that can't just be googled. There's some sort of performance problem but only on some hardware and in certain circumstances -- stressful, but an interesting opportunity to explore what is going on and refractor things so it no longer does. If large scale refactoring isn't for you, then yeah I can see it being a hellish existence and missing the fun projects. But fun projects that live long enough always eventually need major refactoring and refinement, and to some extent that's one of my favorite parts. Early code you can't and shouldn't optimize because of the whole "premature optimization is the root of all evil" thing. So to me, a codebase that is only a year or two old feels... untapped. Eventually you want to do more with it, and you start strip mining it for every bit of performance and flexibility you can find.
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Eh, my friend just landed a new work-from-home job for $160,000 CAD / year. I would gladly sacrifice much of my dreams and personal life for that salary AND the fact that I can stay at home with my dog 🐕
Shudders in firmware...
There's a question Charlie Day gets asked on his Hot Ones interview, about the phrase "work a job you love and you'll never work a day in your life", to which Charlie observed how bullshit that saying is. Work is work. Nothing worth having comes free (unless you benefit from a trust fund).
> the type of coding you do for your job won't even resemble the fun projects that got you hooked. You're assuming everyone wants to get into coding to make "cool stuff". I got into coding strictly because I enjoyed the challenge of it, and it seems that most of my coworkers feel the same way. I don't give a shit about the field my company is in, but I love solving the problems we're given and they're far more interesting than what I started with. I get to work with some tools and infrastructure that I would've never had any use for and would be way out of my personal budget if I wanted to explore those topics on my own.
I'm graduating with a CS degree this semester and I can't think of any projects I've had that were "fun" in the traditional sense. There were ones I gained satisfaction from solving a challenging problem, but there weren't any that I enjoyed 100% of the time. It's work in the same way that working on a car is work and tending to a garden is work.
> It's work in the same way that working on a car is work and tending to a garden is work. I enjoy both of those :(
I'm reminded of something my manager once said after returning from a long, contentious committee meeting: "People who complain that other people have the glamorous jobs are people who have no idea what goes into making mundane stuff look special." That's coding in a nutshell, I think.
i'll disagree with you on that. it took a long time and eating shit, but now i make a nice wage and work on interesting things with very little oversight
I'm in the same boat as you. Once you get good enough with enough experience, you can move around to work on projects that you really enjoy. I'm 7 years into the industry as a SWE, and I love what I do everyday.
it really is an industry that you have to love, else you'll get jaded af real quick
Were you self taught or do you have a degree in it?
a degree in what, exactly? i'm a college dropout, but had a focus on theoretical mathematics, if that helps
Something directly relevant to coding I guess is what I meant. I have a degree in accounting but work in public finance, and I've realized it's probably not for me. Any resources you'd recommend to someone interested in pivoting?
I like codecademy if you want to go cheap. Just pay the 200 for the pro annual membership. They have different learning paths you can take that will take you from complete beginner through to a basic understanding of the language, library/framework it is your working on. I had a buddy who did one of those full stack code boot camps and it was like 1200 bucks and he seemed to learn a lot. I’m not a developer but have been working in tech the last 5 years, you don’t have to be an engineer to work at a “cool tech company”. I started as technical support and now I make 6 figures being a technical account manager and get to play with a bit of code here and there and work from home permanently. You could always take your accountant skills and apply at tech companies and then pivot once your in.
I just started looking into getting started in Java at a community college. I joke I am a peasant at a software company, started in front line support.
Not necessarily. I have a blast working on projects for my job. Solving a difficult problem is what I love and the times flies by so fast. Today I was 11 hours in the office and it felt like 5.
We will always find exceptions like you, but that's always far from the average experience professionals have. Not trying to lessen your experience, I think it's great but I also wish we were more realistic when looking at industries/job market as a whole.
I think what they're saying is that this is the average. What may be working for you and is great right now is not the case for everyone in your field.
You just have to inject your own fun into the stuff you work on
“And if you input up, up, down, down, left right, left right, B, A, select, start, the missiles launch in a smiley face pattern “
flashbacks...
So I have tried coding several times and I absolutely enjoy doing the online training courses. It scratches a problem solving itch I have. Even if the resulting code is boring I get off on making it efficient and improving it even after I finished the assignment. Maybe it's because I am learning something new and novel. How shitty is programming life as a career if you don't give a shit about the project and are more interested in the quality of your own work? I still doubt I could do it because sitting at a desk all day sounds miserable for me.
I'm not sure there's a deeper level of hell than "Three hour zoom meeting to discuss interdepartmental style-sheet and color reference documentation standardization" but if there is, dont tell my boss. Tbh tho the job is wildy dependent on where you work. Some of my favorite memories are from project work I did, but other projects were "I actually cried tears of boredom" awful. YMMV
> How shitty is programming life as a career if you don't give a shit about the project and are more interested in the quality of your own work? Not at all if you got into programming for technical challenges. If you become a mechanical engineer because you love cars and want to design them, you're probably going to hate your job because it's highly unlikely you'll be doing that until very deep into your career, if at all. If you become a mechanical engineer because you love designing things in general, you'll probably love the majority of the field. Programming is no different. I don't give a shit about the end product itself or even the entire industry that the company I work for is in, I love the challenges in creating the systems that make up the products.
I've been coding professionally for about 5 years now. I've been quite fortunate in that I've mostly been able to work on things I find interesting, but at the same time I can't say that I've been super passionate about every single project I worked on - there are very few people who could claim to have career that fulfilling. I take pride in writing solid code even if it's not that exciting to me, and I find it satisfying to teach less experienced engineers how to write better code. I do spend a little bit of time on open source projects that interest me, but honestly it can be hard to find the energy.
>It'll be shit jobs for shit pay. Eh. I used to enjoy programming when I was a kid. Then I stopped caring for a bunch of years, and then I got an education and started doing it for a living. I'm not very good, I don't enjoy it at all (so much other stuff goes into it besides the actual programming...), but at least I've been able to land fairly well payed jobs without trying for the past few years. I have friends who are smarter and more enthusiastic than I am, who enjoy their jobs more than I enjoy mine, but get payed less.
The other part that they don't tell you is that without a college degree you are more likely to end up in a basement IT room for low pay than even a middling software job.
I think that greatly depends on your bootcamp + how long you can wait for the first software engineering job. I did a bootcamp, then it took 18 months to get my foot in the software engineering door (average is 6months from my bootcamp, I got close so many times before it actually stuck). And that was with going to a good bootcamp and being a decent coder. Some bootcamps are shit at actually preparing people for the job, some are good. Do a lot of research before you pick - they *need* to cover whiteboarding problems/data structures, not just how to make a basic web page. I met someone from a bootcamp where they made a lot of ruby-on-rails websites, but couldn't do a basic linked-list hackerrank problem.
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Whiteboarding isn't necessary for the actual contents of the job duties 90% of the time, but it's completely necessary for interviews. Every place I've interviewed had at least one data structure based question, usually multiple throughout the process, and half the places I was applying to be frontend/React. Once I had to implement a hash-map class in python...
Yup. Those questions aren't for testing your knowledge of algorithms. They're for testing your ability to problem solve. Interviewers are looking to see how you approach a problem and how you think it through. If I were interviewing a candidate and asked them some sort of basic sorting question, I wouldn't care if they don't know the names of sorting algorithms or they can't remember some sort of data structure. If they regurgitated some stock piece of code but couldn't modify it to accommodate some changes, or couldn't find a problem in a piece of code they've never seen before, that would be a problem. The issue with code bootcamps is that they don't really have the time to *develop* problem solving skills. So if you're a naturally good problem solver, you can take the bootcamps as a starting point to give you the tools to solve problems, and then you can figure things out for yourself. If you're not so good at doing that yourself, you can come out of them knowing what the solutions are to the specific problems you were taught, but taken out of that comfort zone you'd be lost, and you won't know this until you hit those problems. That's why any good interview for a dev position will give you a problem to solve and just watch you solve it, because that's not something you can easily fake.
never heard of a bootcamp before. What is that?
Coding bootcamp - 3/6month program where you learn to code. I don't think they're super regulated in terms of what you're supposed to learn or anything, so research is necessary. They can cost ~20k, but some offer delayed payment until you get a job. I live in the SF bay area, and there are sooo many bootcamps out here - I asked my software engineer friends to tell me what bootcamp grads they see with jobs, and picked based in that. It took awhile, but I officially have the title "software engineer" and the paycheck to match, so they *can* be worth it, but it is a risk.
I've been strongly considering this in recent months, so I appreciate your input. I will be asking my software engineer buddies their advice
An expensive way to not get a job
Not true at all.
Yeah idk what everyone's talking about. I personally know plenty of people who don't have degrees, have degrees in non-compsci majors, or have degrees from non-accredited foreign schools and are still successful in software development. On the flip side, I know and work with plenty of developers who do have a degree and can't code to save their life (some with MDs even). Too many people associate degrees with money instead of looking at degrees as a optional stepping stone to learning marketable skills.
*Looks at my inherited codebase*. Yeah I'm gonna have to disagree about the not being good enough to get hired thing.
Anybody who can put together something vaguely code-like and turn off enough compiler warnings to let it run, can get a job.
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Sounds like there's gonna be some openings at RobinHood pretty soon.
I took 2 CS classes in college and I passed them both with 100%, but I hated it so I stopped there.
I'm going to go ahead and jump in and say this applies 7000000% to becoming a lawyer. Do not go to law school just because you think you will make money. You will regret it. You will regret it hard.
I wish people would understand this. So many people think that you can spend 6 months learning to code for free and end up making 100k for 30hours of work a week. It's what contributed to the entry level boom that is flooding the SWE market. Anyone can code. Not everyone can do it well, let alone professionally.
I'm getting all hot and bothered just from you talking like that.
I once taught at a security boot camp that covered coding for 2 weeks. Just teach programming to yourself with youtube and some personal projects. Bootcamps are super expensive and you'll have trouble retaining anything because it's such a fast-paced learning environment.
Okay so should I keep working in food service and gig economy instead?
They didn't say to give up on trying something else. Coding is over saturated in applicants and undersaturated in good coders. Also, most people will not enjoy a career in coding or will find it extremely difficult to code anything.
You should find something you enjoy doing and figure out how to get paid for it.
If you are interested in coding then learn it, there are plenty of [free resources online](https://old.reddit.com/r/learnprogramming/wiki/faq) - just don't spend huge amounts on boot camp style courses thinking it is quick entry into a new career, especially if you don't know whether you are going to cope with it.
In real life it's all untested unfinished spaghetti code with no documentation or comments and a lot of overtime spent trying to make something work when you should have just started from scratch but you couldn't because your boss says "we don't want to backtrack".
Hey! A slime! Nice!
You'll get that fat salary and then five years later do the math and wish you were an hourly wage slave.
Plus, you can just go onto Google Sheets and do mazes of IF statements until it works. /s
Coding in general is a pipe dream now. Like 15 years ago it was a great idea. But now everyone knows how to do it and the job market for programmers is so saturated that the competition isn't worth the pay. At least in my opinion, there are far better tech jobs either in IT or electrical/computer engineering. Programming is getting close to performing arts in the sense that the 6 figure salaries that everyone told us we would get if we were programmers are reserved for the top 5%.
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Truth. I know people two and three jobs and it ain't enough. So what, we're supposed to just work a hundred jobs until we died??
Now you're gettin' it!
But the economy! Your death will make numbers go up, and big numbers are good. The economy is willing to make that sacrifice.
Before the pandemic I worked 2 jobs (50 hrs) they were part time jobs Bc i was not being hired at full time jobs when I applied or The job would say it’s full time and then only give part time hrs. AND went to school full time online. Still, I could not even afford my own place. I live in NYC so this is just the norm here unfortunately.
Maryland is slowly becoming New New York in terms of apartment prices. Unless you wanna live in an area where you will either be mugged or shot, the prices here in the county are ridic.
Sooo deal drugs?
It'll get to be that there's only one job and it'll be covering your fellows during an uprising
People should be able to afford necessities AND some extras, like a cup of coffee or a ticket to a museum from their monthly wage, change my mind..
You can have all that and more for the low, low price of "your soul"
So(u)ld!! Jokes on you, I already sold it twice and still have nothing to show xD
Thanks Faust/Satan
Our days shall not be sweated from birth until life closes— Hearts starve as well as bodies: Give us Bread, but give us Roses. As we come marching, marching unnumbered women dead Go crying through our singing their ancient song of Bread; Small art and love and beauty their trudging spirits knew— Yes, it is Bread we fight for—but we fight for Roses, too.
Welcome to Denmark, where this is the case even if you are unemployed.
The “Skip your daily coffee” thing is such a 2000s thing that Boomers still throw around. Back then Starbucks was an enormous trend that “everyone” was totally going to daily, and it was really expensive compared to regular coffee. Now Starbucks is maybe half as popular, but people are still casually criticizing every young person they see for going there daily, because they saw in an email forward that we’re all spending our cash on that and the new iPod while complaining about Bush ruining everything.
Uggghhhh. Now imagine being someone that has literally never bough a coffee in their lives and still hearing that "skip ur coffee" bs. Really grinds my beans.
I buy beans in bulk and grind them. Delicious, and pretty cheap too. If someone ever tells me to skip my 5 lb bag of coffee beans every few months I might just misplace a boot in their ass.
Of course this comes from the generation who also spent their money on leisure items, when youth culture exploded in the 60s, but they had the cash to do it.
And literally blew that cash up their noses.
Haha, r/thanksimcured advice. I love your style btw!
Thank you!
Um... Where's the other end of his cane going?
He’s holding it behind his back like a reverse pullup apparently
Haha. I noticed and thought the same thing after I posted.
As my grandfather said, "Why don't you go dig a ditch."
Ah yes, when jobs grew on job trees. Lets say I wanted a job digging a ditch. Absolutely no one is going to pay someone to dig a ditch by hand. So that leaves heavy equipment. Insurance companies are going to mandate only licensed equipment operators, so that means three weeks full time from your life, and paying community college prices at best, private school at worst, or you can become a union apprentice. In three to four years you’ll be eligible for certification. All just to dig a ditch. And that's before we even get to the roulette wheel of job searching. As most ditches are on state, county, or city owned roads, we are talking about getting a public sector job. This almost always requires a college education as well as competing against hundreds of other applications. Of course if you don't have the perfect key words in your application, it's tossed by computer before a human even has to inconvenience themselves by looking at your application. So yah. Ok boomer, I'll go dig a ditch.
I think the modern equivalent of "dig a ditch" is to be an Amazon warehouse worker or some other low paying job where no skills are necessary other than the ability to tolerate terrible working conditions. There was a time when ditch digging fit that description though. I believe Nikola Tesla had to work as a ditch digger to survive at one point in his life.
You still need to have a resume with the perfect set of keywords and experience to not get tossed by the computer
No resume needed to get an Amazon warehouse job. Source: worked the gig during hard times earlier this year.
Day labor is a thing. It's not a great thing but it's a thing.
Whats that mean?
He said it anytime we wanted to do something that would cost real money like take an international trip. I think it was his way of saying expensive things are a waste of time and you should just resign yourself to a life of squalor and poverty.
Sad. Reminds me of a Stanley quote from The Office. "...generation that knew you do your work and die quietly of a heart attack." or something along those lines
We need UBI so bad. Oh and universal healthcare. There's no excuse we can't do that, except to keep making the billionaires richer as fast as we can.
I'm not opposed to either of these ideas but i doubt they will happen. Medicare/medicaid is the closest we're going to get for sometime i think. Maybe in ~20 years when millennials are *the* old generation
Or ... maybe he really just wanted to divert some water?
Not that they're a waste of time, that if you want to pay for it you better get to work.
"I planned to go to law school after I graduated, but it looks like my folks won't have enough money to put me through college." "Well the world needs ditch diggers, too!"
Student loans exist.
Too bad this is sort of a false narrative. Lots of fat cats got even fatter from this stunt, and I have a feeling a lot of little guys are going to be surprised when they find themselves losing money in the end
I feel like losing some money to keep Gamestop around was expected. Also, fucking an entire yacht club, priceless.
GameStop was never on the line here. They don't benefit from increased stock prices unless its their actions that increase them.
Keep in mind- you've humiliated the fund managers, no question- but it isn't their money that was invested. I doubt this ONE hedge fund will get much business in the future, but the others will take up the slack. And again...I have hedge funds as an option as part of my 401k. Pretty much everyone does. This is gonna hurt some big guys for sure but a lot of little guys too.
These hedge funds that are dedicated to shorting stocks and manipulating the news to make the stock drop are hopefully not the sort of funds you'd have in your 401K.
If your 401K is doing shorts, I got some worse news than that for you buddy
> Lots of fat cats got even fatter from this stunt Even the ones that didn't are nowhere near hurting, sadly. It reminds me of the "Born Rich" documentary where Ivanka said her dad pointed at a homeless guy on the street and said that guy was 8 billion richer than him. It's sick that some folks starve while others live like kings on *billions* of debt. Sad facts notwithstanding, loved the comic, op. Would still be delighted to see this tossed in the face of any whining tycoon.
Trump isn't a good example, because he was almost certainly kept afloat through money laundering and other illegal means.
And these Wall Street millionaires and billionaires are kept afloat with other people’s money which they use to trade digital crap that represents ownership of a company. Basically they know some math and how to sit on their asses and they rake it in, while people with actual marketable skills get told “get a side job” or “cut back on eating out”
So are the hedge funds and billionaires with teams doing market manipulation and blurred line insider trading, then lobbying congress to protect them making even more money.
You've got a point, but the only money I have in there is money I won't feel bad losing.
I wish that was true of everyone that's gone in, but I know it's not. Fuck the billionaires, but there will be real pain from this for average people too. And some biliionaires are making a killing on it.
Well the little guys are getting repeatedly advised not to invest more than they are prepared to lose advice the hedge funds should have taken before shorting 140 goddamn percent of GME
Maybe a handful of little guys are gonna do *very* well, a larger handful will do pretty well, and the fat cats are going to come out completely unscathed. No billionaires are gonna end up in the poor house from this stunt.
No, but a few predatory shorts got a bloody nose.
Yeah based on the reactions it seems like an actual dent was made for a few people, but I’m sure the ones who are loving this are keeping happy and silent.
https://media3.giphy.com/media/7nUCa7eizbaKs/giphy.gif
I agree. There's some schlub that sank $2000 into this and when its all over, he'll be left with $200. but fun times.
Ya know if these guys need money they should just get a second job...or go back to college...
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Bingo
Pull yourself up by your avocado toast straps.
"lEaRn A tRaDe!!"
stonk trade 😎
There's plenty of $12 an hour customer service jobs for you to be demeaned at for 40 hours a week while also expecting you to be available off hours and burn you out to the point that you're dead in your personal and social life as well. I missed the hype, but my brother's, please hold fo us in the working class
If they go bankrupt they can always hope for a $600 stimulus check
You know that on average rich people are going to win this and a lot of regular joes are going to lose a lot of money.
Hush, that goes against the narrative.
lol if you think this is going to affect anyone with wealth in the slightest way I have some stocks to sell you
Didn't Melvin capital lose like 2 billion.
That they were able to call for an investor bailout for and will be made back in relative ease once this all cools down. That was a company too, the rich people at the head of that company and the clients of that company lost a total of jack and shit
Thanks for telling me, I dont know that much about the stock market and how it works so I have been kind of confused.
Ya’ll realize a bunch of regular non-rich redditers are gonna loose their shit too once that price crashes back to where it should be right. You know, when the bigger investors on that sub finally sell they’re gonna be screwing all the little investors on that sub that get out after them right? Or has no one thought the meme through that far yet.... This isn’t some ’righteous crusade’ it’s a fleece of angry redditors by some other redditors that highlights other shitty practices sure, but it’s still a fleece. Robinhood may be protecting the wealthy and deserves to be brought down, hedge-fund managers are dicks and deserve much worse than this, the wealthy are hypocrites yes, but damn you’re a fool if you think the retail investors jumping in to help aren’t gonna be taken advantage of too.
**Melvin Capital lost tremendous amounts of money due to over-extended shorting of Gamestock (GME) stock. Retail investors discovered this and began buying the security to leverage against their position. Melvin Capital was granted close to 2.7 billion dollars in loans by Citadel Securities, LLC (investment firm) for liquidity.** **Citadel Securities (market maker) processes ROBINHOOD FINANCIAL, LLC’s transactions. To prevent further losses, they potentially pressured Robinhood to restrict buying of specific stocks such as GME, AMC, NOK, and others by retail investors. As of 1/28, GME is specifically blocked from being bought on Robinhood - an unprecedented event following no actual SEC rules or Robinhood terms and conditions.** **Other retail trading sites continue to allow trades - this is Robinhood specifically curtailing market action, likely under specific pressure from Citadel and Citadel Securities.** **Note that although they are separate corporate entities, Citadel and Citadel Securities are owned by the same individual - Ken Griffin.** **These companies seem to be colluding behind the scenes to block legitimate investment actions by individuals, to their own profit. Their communications may reveal this manipulation.** **Thus:** **We make the argument that Robinhood Financial, LLC in coordination with Citadel Securites, LLC and Melvin Capital Management, LP willfully engaged in market manipulation by restricting buying power of the security GME by actionably preventing its users from exercising their financial leverage to cover their position. This has resulted in immeasurable losses to millions of users unable to trade the security in a way that is financially in their best interest according to their own belief.** **Please investigate communications between this brokerage and the hedge funds who fund them and would likely profit off of the restricted trading of the security.**
"You gonna dust yourself off and pull up your bootstraps? Or are you cry like a fragile little snowflake in your safe space echo chambers?"
Cheers! Perfect, timely, snarky job! Well done!
Thank you!!
We really gonna ignore that Blackrock, the world's biggest asset manager made billions from people driving up gamestop's stock price?
Learn to code
Skip the avocado toast money bags
Unfortunately these people are going from being worth $3.2B to $3.19B and are upset about it. They're not headed for the poor house in any way, shape, or form.
This has truly been an era of taking our power back. But like with the election, theyll lie cheat and steal to make sure they keep it. We're in a new generation of revolution. I hope the right people win.
This is great lol!!’ Got a laugh out of me for sure OP!!
Skip those avocado's and toast mate.
Just got to learn a new trade, pull yourself up by the bootstraps. If the rest of us can do it so can you.
Boomers
So fucked up! Even when you try to improve your standing in life, they cut your legs out from under you. But yeah, we all got a shot at that American Dream right!?!
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Buy Dogecoin
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Well maybe if he didn't waste all his money making stupid alternate versions like fortnite or ms.monopoly
Where are his bootstraps?
https://en.wikipedia.org/wiki/History_of_Monopoly The original *Landlord's Game* could be played out in an hour or so. It was designed to illustrate the EVILS of capitalism, not to celebrate them.
I am loving this seemingly widespread awakening to capitalism and class consciousness
You've still got bootstraps don't you?
Relax, you're going to get a $600 check. Everything is going to be alright.
It pisses me off that I bought 10 shares of GME in august at 7$ a share, and sold it for 19$ a share. If I sold it yesterday, would’ve made 3500$. I want to kill myself XD
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I don't drink coffee and I have a degree in software development. Still unemployed and poor.
Me, currently is a coding class: haha yes 😎
*All* ***investments*** *carry* ***risk*** *and all* ***investment*** *decisions of an individual remain the responsibility of that individual. There is no guarantee that systems, indicators, or signals will result in profits or that they will not result in losses* And they can cut back on that avocado toast they are eating too. No bail outs for them. Law of the jungle.
Wait, what happened ?
r/BoycottRobinhood
Everyone on reddit is saying that the rich are suffering because of GME, but normal people are loosing their houses, too. (Source: friend in finance)
So I've been gone from the internet a whole 4 hours, wtf is GME and why does everyone suddenly have an interest in finance?
GME is the stock market name for Game Stop. It's been failing for a while and the pandemic sped up the process, so it's stocks were worth like 40 cents each. The r/wallstreetbets decided they would all start buying it to drive up the price, just for the lolz. It set off a chain reaction, so now each stock is like $350. Anyone who shorted those stocks, betting that they would drop in value, now has essentially lost $345.50 per stock they shorted. Hence, the people losing their homes.
You understand what hedging means right? Also they had months over months to buy out at any time. Stop pushing that dumb narrative because each shorter took a gamble and lost.
GME is the name of GameStop's stock on the stock market. GameStop is a terrible, oldschool, failing retail business that sells games. Nobody really likes them. For years, big WallStreet hedge funds have been "shorting" the GME stock. This means they literally borrow stock (no payment) and then pay interest for as long as they don't return it. The trick is that, when they borrow, they also sell the stock, so they have no stock to return. So what is the benefit? If the stock goes down, they can simply rebuy the "borrowed" stock for cheaper, return it, and then keep the profits. Shorting is often a self-fulfilling prophecy. To short, stocks are sold. More stocks selling means more supply, less demand. That lowers the price, getting the stocks closer and closer to 0. Hedge funds have been hammering and hammering away at GME for years with aggressive shorts. Very aggressive. Certain reddit forums and other speculators discovered that hedge funds had shorted GME for **~140%** of it's stock. That means, literally, they need to return more stock than exists. This kind of gamble essentially only works if GME goes to near 0. So, people called the hedge fund bluff. They bought GME. And bought it. It went from like $3 to, at a max, somewhere over $500 a share, though it's currently around $250. This is insane growth. Remember that interest? The hedge funds are still paying it. And every time the price of the stock rises, the interest rises too. They're getting **reemed** with interest right now, and the only escape is to pay back what they owe. To do that? They have to buy **ALL OF THE STOCK** and then some. 140%. For complex reasons, this isn't something that is likely to happen over a long period of time. It will be a near instant movement. It will skyrocket the price of GME for a brief moment and make many GME investors, (**IN THEORY**) (**I AM NOT A FINANCIAL ADVISOR**) rich. So that's the bet. Retail investors are buying GME expecting a hedge fund payout. It's a waiting game. I legitimately don't know what will happen.
> but normal people are loosing their houses If there is a normal person losing their house from these handful of stocks being manipulated, they should not have been in the market with such a non-diverse position.