F*%& a Recession

“ Don’t tear-up for the U.S. economy just because it has back-to-back bad quarters. Consider this: the U.S. gross domestic product (GDP) undermeasures the services component of the U.S. economy (the most relevant component to the tech industry) and hasn’t been updated by the GAO in 40 years. Quiz: how great a contraction is required, over two consecutive quarters, to call it a recession?: 0.8%; 5%; 12%; or 22%? Right you are if you guessed 0.8%! I think I lost 0.8% in productivity when my dog Baxter demands two walks.”

-Larry Chiang, Found | Read