4 ms·
It's rather memetic in a way, everyone thinks everyone else knows best when it happens. Then the mimeses becomes a self fulfilling prophecy and private liquidit
by ac2u 4y ago
It's rather memetic in a way, everyone thinks everyone else knows best when it happens. Then the mimeses becomes a self fulfilling prophecy and private liquidity starts to tighten up even further than the tightening because of interest rates.
I'm guessing the decision makers here are sometimes aware of the irrationality of the snowball effect, but bet on it being irrational not to copy it before the market reality hits them and they have to make even deeper cuts in future.
- ghaff 4y agoBetting you're not the smartest guy in the room is not routinely wrong--especially if the action of all other other "smartest guys in the room" affects the outcome.
- jhatemyjob 4y agoYep. It's the Rene Girard Peter Thiel mimetic desire. The first outside investor in Facebook. Stanford professor. Critic of the critics of Western Culture. Jesus Christ is the one true role model. These layoffs are the apocalypse. The laid off employees are now Gods. Zero to One by Blake Masters. National Conservatism. One cut on this I always have is, these things are always over-determined.