3 ms·
No, that was more of a straight up closure of startups and tech companies. Like people would go into the office on Monday and all be fired without any idea it
by qbasic_forever 4y ago
No, that was more of a straight up closure of startups and tech companies. Like people would go into the office on Monday and all be fired without any idea it was going to happen. The money ran out and the good times immediately stopped. Within weeks the companies would be liquidating assets and going through bankruptcy. This is more of big companies slowly reducing costs because of the uncertainty of profits ahead.
- bdcravens 4y ago>> people would go into the office on Monday and all be fired Guess that's a good reason to put off bringing people back in the office. Just one day your work accounts are disabled, and the direct deposit stops coming.
- ghaff 4y agoWell, and then when all those startups closed, a lot of companies those startups reliably wrote checks to went through (at least) difficult times as well. There was a pretty hard knock-on effect (mostly within the tech industry). Partly because of public cloud, open source, and the sources of revenue of the large firms, there are other exposures (especially ad spend in the case of a number of the big firms) but financial relationships within tech seem a lot ore loosely coupled today.