Linkedin is down 38%. Tesla is down quite a bit. My guess is that some VCs were leveraged and had to liquidate positions. Free money from leverage does not look as good when equities go down... I think we are heading for a most violent year on the markets. Pharma and biothechs will most likely be the only bright spots, especially anti-anxiety drugs... :-)
Keep plugging at building great software that actually helps make this a better place. Charge for it so you can survive this downturn. It's a cycle, this will weed out the nonsense.
This is probably wrong. IMHO what looks like has happened is there are a handful of HN-relevant companies had weak earning announcements yesterday[1] after market close, and that is coupled with a weaker US jobs report [2], [3] today. The overall market is off and there are a handful of major drops for the companies mentioned but this is not some public tech market panic event (yet).
Jim Cramer, et al are saying that it's the strength of the jobs report that is hurting. Because as long as unemployment is ~5% the Federal reserve might raise rates, opposed to if unemployment worsens, the fed might not.
You're saying that VCs (i.e. funds that do not invest in public companies) figured out they're too leveraged and had to sell the (public!) share of LinkedIn exactly as LinkedIn announced horrible results/outlook?
A few things in the above explanaiton aren't completely consistent...
And cannot choose to just liquidate these shares whenever they want. There are rules, and these things require multiple months advance warning and lock in.
I don't think gas prices impact the Model S/X, the price point is just too high to be a bracket where that's a major factor. I think that for the Model 3 they're going to be production constrained to a point where we'll see gas prices come back to normal.
Also a big factor in the TCO is the lack of maintenance and overall simplicity in a electric drivetrain and that's completely independent of gas prices.
Keep plugging at building great software that actually helps make this a better place. Charge for it so you can survive this downturn. It's a cycle, this will weed out the nonsense.