No More Snake Oil for Snowflakes!

Yesterday's market collapse into bear market territory is so far been looked at in terms of likelihood of interest rate rises over the next couple of days. That is, however, a very minor part of what's really going on here. The market collapse, inflation, interest rate rises, and all of the stuff that is been in the news of the last 24 hours is, in a way, merely the tip of the iceberg. The real impact of this is going to be on labor markets. Labor, employees, and so forth are about to shift dramatically from hard to get to oversupply. Entitled millennial's who take for granted their ability to get paid lots of money to not do very much while being coddled by startup money machines will, within weeks, realize that the real problem is going to be getting and keeping jobs. This also means that the vast array of snake oil for snowflakes companies in the startup queue based on the assumption of serious labor shortages are, for the most part, doomed to failure.