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I have heard through the grapevine that a lot of companies in SF/SV were hoarding employees they did not need to prevent competitors from getting them. Elon Era

I have heard through the grapevine that a lot of companies in SF/SV were hoarding employees they did not need to prevent competitors from getting them. Elon Era Twitter seems like a confirmation of that (or at least a data point). A lot of people thought Twitter would collapse immediately due to all the cuts. Granted, as you wrote, it isn't as good as it was, so he probably cut too much.

SilverBirch 4y ago
Again, it's been a theory for a long time that top companies like Google were hoarding talent, but there just isn't any evidence for it. Not least, because if that were the plan Google is doing a shockingly poor job of it. People are getting confused by the timing, but two things happened. 1: Elon Musk got angry that the Babylon Bee got kicked off twitter and became so online that he burnt $45Bn pursuing an unhinged vendetta. Separately to that interest rates suddenly went from a historic low to shooting up - the result being these high growth companies saw their forward returns crushed and their stock values cut in half, so the equation of "invest for growth" vs. "Return cash" tipped massively. It's easy to conflate these two things, but they really have nothing to do with each other, it just so happened that Musk managed to time it incredibly badly. Big Tech is responding to macro trends, Elon Musk is personally accusing his own employees of being pedophiles, there's a slight difference.