No, but those are not the only companies top talent is going to. I can see at least three streams of "top talent migration" after a layoff in my tech company th

No, but those are not the only companies top talent is going to. I can see at least three streams of "top talent migration" after a layoff in my tech company that happened a few years back - other big tech (Fortune 500 and similar companies), start-ups (including own), outside of big tech (gaming, space, medical, civil infrastructure, etc). A lot of companies are hiring aggressively and don't plan on layoffs. From my anecdotal experience, the FAANG layoffs are a bit of a joke in some CEO circles. A lot of tech does not agree with what FAANG is doing.