If 100k people are let go that’s 100k licenses lost across ~25 different vendors. Layoffs are happening because growth is flatlining or reversing. Tech is very

If 100k people are let go that’s 100k licenses lost across ~25 different vendors. Layoffs are happening because growth is flatlining or reversing. Tech is very insular as startups are created to solve problems in other tech companies, so if the flywheel of tech companies buying from each other stops, the entire thing can reverse quickly. Also seed rounds were oversubscribed with no diligence, product, and money raised on little more than names and vague ideas. Series A was possible pre-revenue. Series B on 100 to 250x revenue. The whole thing was unsustainable. Finally a huge number of tech employees were “barnacles” or those somehow making 6 figure salaries while providing little or negative value. Now that the music has stopped those people are being cut. I’m talking about agile / scrum people, DEI, ethicists, bloated HR, and all manner of not-revenue generating employees. Push has come to shove and they are jettisoned first.