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Overhiring right before a recession/tightening of the money supply is not exactly 'bringing chaos to the community'. With the 20/20 benefit of hindsight, its a
by vkou 4y ago
Overhiring right before a recession/tightening of the money supply is not exactly 'bringing chaos to the community'. With the 20/20 benefit of hindsight, its a mistake, but its not a malicious mistake.
Also, I'll remind you that the Fed is actively trying to increase unemployment. Do you think that's going to happen without people... Losing their jobs?
- twelve40 4y agoI don't understand the concept of overhiring tbh. Especially for pretty level-headed services like Plaid or Stripe who have very concrete products and do not engage in pie-in-the-sky metaverses. Surely well-run fintechs can plan their work better without wasteful and dramatic swings?
- vkou 4y ago> Surely well-run fintechs can plan their work better without wasteful and dramatic swings? No, because it's really, really hard. During periods of economic upheaval, nobody can reliably predict where all of the inputs into their business, and the demand for outputs of their business are going to be six months from now. (If they could, they should shut down all the 'productive' parts of their business, and just run an investment fund instead.)
- salawat 4y agoNot everyone is interested in doing investment fund things.