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What if most companies have no long term vision and just follow the trend, like when they all hired hundred/thousands of employees during covid for seemingly no
by lm28469 4y ago
What if most companies have no long term vision and just follow the trend, like when they all hired hundred/thousands of employees during covid for seemingly no reasons
- lukan 4y ago"during covid for seemingly no reasons" During covid the demand for online services went way up, media consumption, remote work and study. They had to try to increase their share of it and now they scale back.
- stefan_ 4y agoYou say that like they knew that. No, they were thinking it was going to be a recession. It's all just cargo culting nonsense.
- netheril96 4y agoDuring the same time the Fed repeatedly suggested that the interest hike would come soon, yet none of these companies prepared for that at all.
- creakingstairs 4y agoI do agree with you that those companies should have prepared for the hike but I also remember Powell saying “inflation is transitory” :p
- nkozyra 4y agoWell, inflation is demonstrably transitory. But the impact to these companies is, in general, less about inflation and more about free money.
- BurningFrog 4y agoIf you can find a quote for that, I'd be surprised. As I remember it, the Fed kept saying things were fine until faced with at a hard, cold 8.5% inflation rate.
- nkozyra 4y ago> During covid the demand for online services went way up, media consumption, remote work and study. Has this been quantified? And on the downslope too?
- nkozyra 4y agoI think this is likely, but more because it becomes a competitive gold rush once one agent makes moves like this. The idea that the pandemic would create some new world never really made any sense for a global rampup anyway.
- Aunche 4y agoCompanies are made of individuals whose interest isn't necessarily aligned with that of its shareholders. For example, Google and Microsoft are run by executives who only own a tiny percentage of their respective company's stock, so they have little to lose by gambling their company's money on over hiring. If these new hires are useful, they get even bigger bonuses, but if they don't they won't be punished too harshly because basically every other executive made the same "mistake". On the other hand, Zuckerberg would rather create the metaverse rather than cash out on Facebook, so he decided to throw unlimited money at it until he received severe pressure from shareholders.