I think they expect to not have to face another Google or Facebook to compete with by hiring everyone at 3-4x. Then employees just rotate among the big techs.

I think they expect to not have to face another Google or Facebook to compete with by hiring everyone at 3-4x. Then employees just rotate among the big techs. The big techs then decide where they want to compete with each other... e.g Netflix and amazon video/prime... so if stocks decline I’d expect a rise in bonus or base pay or more stock.