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I agree with you for the most part. The number of people who could run Shopify at the current scale is definitely more than 80 people but probably less than 100

I agree with you for the most part. The number of people who could run Shopify at the current scale is definitely more than 80 people but probably less than 10000. They took a big bet on global growth and this would've exploded HC related to sales, marketing, compliance, recruiting, etc. They pulled hiring forward on an expectation that the market advanced 5 years during COVID and now have to cull that new growth. Lots of late stage private companies and recent IPOs are going through the same thing.

hef19898 4y ago
And in that light ten percent isn't even that much. It really sucks for those being laid off, Shopify seems to take their responsibility for their people serious so (if they follow through with what they promised). And yes, pulling your timetable and hiring forward was bet, but a less risky one than it turned out to be in hindsight. More general, we had the 2008 financial crisis after one not too big investment bank went under. Covid did, despite all the real world damage from lost lives to the economy, not doing anything like it. I always wondered why, aparently more free money, on top of all the free money we had since 2008, helped. I just hope that the postponement of hitting a wall doesn't mean we ginna hit it much faster. We'll see...