I agree to an extent - Musk was only able to say the emperor had no clothes because he owns the company. No public company wants to be the first (or the last)

I agree to an extent - Musk was only able to say the emperor had no clothes because he owns the company. No public company wants to be the first (or the last) to make a move, so even at public companies that don’t NEED layoffs - especially indiscriminate ones that decimate a talent pipeline - will initiate downsizing. It’s all to appease the street - they expect blood, mgmt gives them blood, share prices goes up, mgmt hits bonus targets. Long term impacts don’t matter because they won’t be there to endure the pain - pass that off to another poor sucker and hope you have a chair when the music stops. Pubco 101.