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> My hunch is that these companies are cargo-culting their strategies Yes most of these tech companies are the same. Their strategy is based off what other suc
by Dave3of5 4y ago
> My hunch is that these companies are cargo-culting their strategies
Yes most of these tech companies are the same. Their strategy is based off what other successful companies are doing. Also they want shareholders / investors to be on board. @paulg himself started this run with an email telling investors and companies to turtle up and stop hiring.
The whole thing has become a self perpetuating loop.
Companies also use this type of thing as an excuse. You'll be seeing companies blaming their poor performance on this downturn for the next few years long after it's all over.
- andsoitis 4y ago> blaming their poor performance on this downturn Do you think their poor performance is primarily due to something other than this downturn?
- taormina 4y agoOver a decade of ignoring their customers and riding on their laurels probably doesn’t help. But don’t worry, everything is COVID’s fault.
- haliskerbas 4y agoAdvertisers are usually the customers and they are listened to very well at most of these places.
- klipt 4y ago> @paulg himself started this run No the fed started it by raising rates with the explicit goal of triggering a hiring freeze to chill the economy and reduce inflation: https://finance.yahoo.com/news/why-the-fed-wants-corporate-america-to-have-a-hiring-freeze-morning-brief-100055174.html https://finance.yahoo.com/news/why-the-fed-wants-corporate-a... Everything else is just a consequence of the fed deploying its one big lever.
- deleted 4y ago[deleted]
- nojito 4y agoRates rising have been priced in for many years already. The tech bubble is popping.