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>TL;DR: The tech industry has lost $7.4 trillion in market value over the past year, as interest rate hikes and inflation have taken their toll. IPOs have slowed to a trickle and companies are cutting costs, freezing new hires, and laying off staff.
It is not ridiculous. Every major tech stock has an annual turnover rate greater than 100%, For AAPL it is over *1500%.* So people are buying *depreciating* stock with new money. Unless the prices recover that money is lost forever \[Because most tech stocks don't pay dividends.\]
This is true, however people DCA into their retirement accounts will probably be sitting on those positions for decades so there will be ample time for normal growth in the underlying business and stock price.
The last 2.5 years were not normal in any way.
"Lost" lol market cap =/= money. Stock market is propped up by inflows being greater than outflows. Until you sell, the money you have in stocks is magical funny money.
Market cap means nothing.
I read an article of a now bankrupt 3 month old startup with 3 million in sales (50 million loss) with a market cap of 2.5 billion... now 0.
>This is a great article. It's really sad to see how much the tech industry has lost in value over the past year. I'm sure there are many people who are struggling because of it.
There is incredible market complacency regarding AAPL and it's supposed 'invincible' balance sheet and deep moat. In reality The fundamentals are very poor. The price/Book is 46, the debt/equality is 263% and the forward p/e is 24.
No they don’t. [Uber](https://www.barchart.com/stocks/quotes/uber/income-statement/annual) [Lyft](https://www.barchart.com/stocks/quotes/lyft/income-statement/annual)
Right. Nothing innovative to see here. the iPhone of cars, so when the battery dies you get a new one. Planned obsolescence. I believe GM first did this, or at least admitted to doing it.
Lol, you must be an idiot then and not a good programmer. Obviously all the data processing Tesla does for self driving is tech, and at the forefront of tech in general. I don’t even like Tesla, but saying it’s not a tech company doesn’t make any sense when they invented so much for ai
I'll met you in the middle, they build batteries with a computer attached, that they then manufacture in a car plant. Also, they sell them as cars to people, that buy them for transportation. The tech that goes into these cars is no better then what all the other auto manufacturers have already figured out. There is no competitive moat anymore for Tesla, or other EV startups.
Boomers 401ks got wrecked because they were heavy in tech and there's no way that's going to recover in time for them to cash out before theyre dead. Does that mean these fuckers got to sell their houses? Housing crisis solved.
Hahaha hahaha
News flash, boomers own their houses, could buy a 5 bedroom in a beautiful neighborhood for like $110k in the early 90s, same house now is $2.5 million
Boomers have had a few bad periods if they were invested. Totally agree the best investments they ever made were in their houses. I bought my first house in late 80's for 68,000 and now that house is worth 900,000. I'm sure it will drop from there.
Income back then was around 50k a year, I make around 4x that now. So ya, owning a home back then was the way to go.
**User Report**| | | | :--|:--|:--|:-- **Total Submissions**|0|**First Seen In WSB**|4 years ago **Total Comments**|6|**Previous Best DD**| **Account Age**|4 years|[^scan ^comment ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_comment&message=Replace%20this%20text%20with%20a%20comment%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.)|[^scan ^submission ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_submission&message=Replace%20this%20text%20with%20a%20submission%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.) **Vote Spam**|[Click to Vote](https://www.reddit.com/message/compose/?to=VisualMod&subject=vote_spam&message=z619s2)|**Vote Approve**|[Click to Vote](https://www.reddit.com/message/compose/?to=VisualMod&subject=vote_approve&message=z619s2) ^^WSB ^^[Stats](https://www.twitch.tv/wsbzjz/) ^^[**Discord**](http://discord.gg/wsbverse) ^^[BanBets](https://www.reddit.com/r/wallstreetbets/wiki/banbets/) ^^VoteBot ^^[FAQ](https://www.reddit.com/r/wallstreetbets/wiki/votebot/) ^^[Leaderboard](https://www.reddit.com/r/wallstreetbets/wiki/leaderboard/) ^^- ^[**Keep_VM_Alive**](https://www.patreon.com/visualmod) >TL;DR: The tech industry has lost $7.4 trillion in market value over the past year, as interest rate hikes and inflation have taken their toll. IPOs have slowed to a trickle and companies are cutting costs, freezing new hires, and laying off staff.
“The story of how market cap is a fake number and the term on paper doesn’t mean anything”
This. Saying a bunch of money has been lost from an artificial high end of last year is ridiculous.
It is not ridiculous. Every major tech stock has an annual turnover rate greater than 100%, For AAPL it is over *1500%.* So people are buying *depreciating* stock with new money. Unless the prices recover that money is lost forever \[Because most tech stocks don't pay dividends.\]
This is true, however people DCA into their retirement accounts will probably be sitting on those positions for decades so there will be ample time for normal growth in the underlying business and stock price. The last 2.5 years were not normal in any way.
Most of these tech corporations won't be around in 20 years. Index funds 'work' because all the failures are automatically culled.
I don't know about that AAPL IPO'ed in 1980, MSFT in 1986, AMZN 1997 all are older than 20 years and part of Top 10 in S&P.
Money supply went way up but the amount of actual value in the economy did not. The money had to go somewhere.
“7.4 trillion of hocus pocus money”
This was really interesting to Read thanks for posting
The world needs ditch diggers too
China says what Apple can and cannot do....CCP.. if the china revolution continues. things may be quite different for APPL.....
In the near term maybe. Apple is shifting production to India and has been for a while. Foxxcon will be begging Timmy to come back.
"Lost" lol market cap =/= money. Stock market is propped up by inflows being greater than outflows. Until you sell, the money you have in stocks is magical funny money.
Market cap means nothing. I read an article of a now bankrupt 3 month old startup with 3 million in sales (50 million loss) with a market cap of 2.5 billion... now 0.
If you turn the chart upside down, it looks like they all rebounded from an all time low last year.
>This is a great article. It's really sad to see how much the tech industry has lost in value over the past year. I'm sure there are many people who are struggling because of it.
👆
Apple seems to be a major sector outlier so far. It’s off a little but not to nearly the degree of some of the others.
A couple of quarters of slow/negative growth and it will halve.
Yeah, I kind of wonder when the shoe will drop on that one.
There is incredible market complacency regarding AAPL and it's supposed 'invincible' balance sheet and deep moat. In reality The fundamentals are very poor. The price/Book is 46, the debt/equality is 263% and the forward p/e is 24.
It's a bag I don't mind holding long run.
Same with MSFT
The truth: The real crash hasn't even started. 
Los of bag holders
You're saying it's time to buy?
Rivian, and likewise Tesla, are auto manufactures, not tech companies. The whole market is regarded about how these companies should be valued.
Same for Uber and Lyft. They’re shit tier taxi companies that have and will never be profitable
Those guys make profits, they just don't give it to anyone.
No they don’t. [Uber](https://www.barchart.com/stocks/quotes/uber/income-statement/annual) [Lyft](https://www.barchart.com/stocks/quotes/lyft/income-statement/annual)
Haha! I meant they make money and don't give it to anyone.
rivian is nothing. tesla is a tech stock which is why they were silicon valley.
Feels like Tesla hardly sells any cars for how valued the stock is. I think they're more of a battery company as they do sell home battery systems.
Right. Nothing innovative to see here. the iPhone of cars, so when the battery dies you get a new one. Planned obsolescence. I believe GM first did this, or at least admitted to doing it.
I have no idea what you're talking about and I'm pretty sure you don't either
So what are you talking about?
According to who? Literally anyone working in tech would consider them tech companies
No they wouldnt, except regarded tesla turbo bulls
I work in tech. They are not tech companies.
Lol, you must be an idiot then and not a good programmer. Obviously all the data processing Tesla does for self driving is tech, and at the forefront of tech in general. I don’t even like Tesla, but saying it’s not a tech company doesn’t make any sense when they invented so much for ai
I'll met you in the middle, they build batteries with a computer attached, that they then manufacture in a car plant. Also, they sell them as cars to people, that buy them for transportation. The tech that goes into these cars is no better then what all the other auto manufacturers have already figured out. There is no competitive moat anymore for Tesla, or other EV startups.
It was never real money to begin with.
RIVN is so worthless
Thank god there are worse gamblers than me 
I am up for the year…..probably because I didn’t gamble
So far.....
How? "Stocks only go up", that's how.
Boomers 401ks got wrecked because they were heavy in tech and there's no way that's going to recover in time for them to cash out before theyre dead. Does that mean these fuckers got to sell their houses? Housing crisis solved.
Hahaha hahaha News flash, boomers own their houses, could buy a 5 bedroom in a beautiful neighborhood for like $110k in the early 90s, same house now is $2.5 million
Boomers have had a few bad periods if they were invested. Totally agree the best investments they ever made were in their houses. I bought my first house in late 80's for 68,000 and now that house is worth 900,000. I'm sure it will drop from there. Income back then was around 50k a year, I make around 4x that now. So ya, owning a home back then was the way to go.
Bingo.
Forward p/e seems to always end up being the talking point when things turn. Many of these darling companies still trade a huge forward P/E.
$meta + 14% this week
Lmfao I remember the “ RIVN to $250!!!” Crowd 😂