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- The tech companies having issues during covid-19 are all heavily invested in travel/transportation(Uber/Lyft/Airbnb etc). - They also are in industries that

- The tech companies having issues during covid-19 are all heavily invested in travel/transportation(Uber/Lyft/Airbnb etc). - They also are in industries that entirely use gig workers with personal contact in 90% of their services(airbnb the least of these). - I don't see other tech companies getting hit this hard(the sky is not falling!). - I really, really hope these laid off engineers find other jobs quickly and land on their feet.

buboard 6y ago
They deal with real, physical stuff. The virtual world has no externalities (except maybe a solar storm).
0xDEEPFAC 6y ago
Maybe we should consider a higher level? For example, with our interconnected highly computerized trading systems and with every megacorp these days heavily invested in financials (think stock buy-backs) who knows? Definitely not the FED Reserve.
peter_mcrae 6y ago
The tech companies you identified are getting hit 1st. I expect to eventually see fallout in Fintech, Realestate, Advertising, anyone selling B2B SaaS (particularly to marketing/HR/ sales departments, SMB), etc. It will take time to feel the 2nd and 3rd order impacts. Hopefully, we bounce back quickly, but it's hard to not be a little concerned.
- golergka 6y ago
  Unless their investors believe in a V-shaped recovery afterwards, and are willing to spend money now to gain market space from competitors who would die in the meantime.
- stu2b50 6y ago
  Realestate has already been hit hard. Opendoor had like a 40% layoff + furlough.
- Groxx 6y ago
  Advertising seems to be hit - there are quite a few articles around e.g. YouTube paying substantially less to creators.
- rodgerd 6y ago
  > It will take time to feel the 2nd and 3rd order impacts. Ask people at Sun how relying on the .com economy worked out for the company, as one example.
fullshark 6y ago
I mostly agree at this point but wonder if covid's economic impact is just getting started and there's gonna be massive unforeseen 2nd and 3rd order effects. Hospitality/transportation and startups that were already in trouble (e.g. WeWork) might just be the tip of the iceberg. Conversely, it's helped some tech companies (Amazon and Zoom) so who knows how this all shakes out.
- RedBeetDeadpool 6y ago
  My thoughts are that amidst the fear, the thing is, this economy was slowed solely due to the lockdown. If there was a bubble, it hasn't popped yet. There really is no reason for the economy being in the position its in except for the virus. I doubt there will be 3rd order effects that are too devastating. The lockdown will end soon enough and the economy will thaw and start moving again, maybe even to the roaring pace it was at before all this happened ... and after all that is when we will likely see the actual once-a-decade market-correction/recession/depression.
luckydata 6y ago
I am (for a few more weeks) a PM at a fairly popular applicant tracker company. I was just laid off. While recruiting is the first to get affected, you're underestimating how much of a bellwether HR tech truly is. If we're suffering this much, it's pretty clear what's about to happen. I've seen our internal data, things will be bad for a while.

buboard 6y ago

They deal with real, physical stuff. The virtual world has no externalities (except maybe a solar storm).

0xDEEPFAC 6y ago

Maybe we should consider a higher level? For example, with our interconnected highly computerized trading systems and with every megacorp these days heavily invested in financials (think stock buy-backs) who knows? Definitely not the FED Reserve.

peter_mcrae 6y ago

The tech companies you identified are getting hit 1st. I expect to eventually see fallout in Fintech, Realestate, Advertising, anyone selling B2B SaaS (particularly to marketing/HR/ sales departments, SMB), etc. It will take time to feel the 2nd and 3rd order impacts. Hopefully, we bounce back quickly, but it's hard to not be a little concerned.

golergka 6y ago
Unless their investors believe in a V-shaped recovery afterwards, and are willing to spend money now to gain market space from competitors who would die in the meantime.
stu2b50 6y ago
Realestate has already been hit hard. Opendoor had like a 40% layoff + furlough.
Groxx 6y ago
Advertising seems to be hit - there are quite a few articles around e.g. YouTube paying substantially less to creators.
rodgerd 6y ago
> It will take time to feel the 2nd and 3rd order impacts. Ask people at Sun how relying on the .com economy worked out for the company, as one example.

fullshark 6y ago

I mostly agree at this point but wonder if covid's economic impact is just getting started and there's gonna be massive unforeseen 2nd and 3rd order effects. Hospitality/transportation and startups that were already in trouble (e.g. WeWork) might just be the tip of the iceberg. Conversely, it's helped some tech companies (Amazon and Zoom) so who knows how this all shakes out.

RedBeetDeadpool 6y ago
My thoughts are that amidst the fear, the thing is, this economy was slowed solely due to the lockdown. If there was a bubble, it hasn't popped yet. There really is no reason for the economy being in the position its in except for the virus. I doubt there will be 3rd order effects that are too devastating. The lockdown will end soon enough and the economy will thaw and start moving again, maybe even to the roaring pace it was at before all this happened ... and after all that is when we will likely see the actual once-a-decade market-correction/recession/depression.

luckydata 6y ago

I am (for a few more weeks) a PM at a fairly popular applicant tracker company. I was just laid off. While recruiting is the first to get affected, you're underestimating how much of a bellwether HR tech truly is. If we're suffering this much, it's pretty clear what's about to happen. I've seen our internal data, things will be bad for a while.