The overall economy has record low unemployment. Tech layoffs are nowhere near 1M. Any direct intervention is likely to produce bad side effects that could be a

The overall economy has record low unemployment. Tech layoffs are nowhere near 1M. Any direct intervention is likely to produce bad side effects that could be actually worse for everyone. Also, layoffs can be good for the overall economy than avoiding it, after the labor allocation is suboptimal. https://eig.org/dynamism/ https://eig.org/dynamism/ https://www.bls.gov/spotlight/2022/the-decline-in-employment-dynamism-over-the-last-three-decades/home.htm https://www.bls.gov/spotlight/2022/the-decline-in-employment... I fully expect these layoffs will provide necessary labor for the next generation of startups and smaller firms that will drive the future growth, just like dotcom crash did and the financial crisis did.