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This I fully agree with, companies want to move back to very low wages and are doing all it can to force a recession. So far not going well for them. On goes

by jmclnx 4y ago

This I fully agree with, companies want to move back to very low wages and are doing all it can to force a recession. So far not going well for them. On goes my Tin Foil Hat: So, SVB failed due to a Bank Run by rich people who mainly own their business. Coincidence??? I know people in retail, right now they are job hopping because those wages have risen a lot compared to Tech. Granted, those wages are not good at all, but some are now able to put a little away instead of living on those future payday loans. Most people let go in Tech, seems there is plenty of work out there anyway. edit: typos

latency-guy2 4y ago
Of course, you'll have to answer a few questions for your conspiracy theory: Why wait until 2023? Why do it after hiring at such a rate that you effectively increased your company's headcount by 50%+ in the last 2 years? What events are currently happening that would allow for this to happen? You can pretend like you have a standing for your theory all you want, but it's all nonsense compared to the simple fact that Powell and Yellen are here to force a recession.
- pandaman 4y ago
  What if these companies did not hire some concrete number of people but had a pipeline set up to pass a certain fraction of applicants? Seeing how people get hired by Google, for example, and then get into a "team assignment" it certainly looks to be a possibility. Then, what happens when the stock price doubles over two years and a significant fraction of the compensation is pegged to the stock price? Compensation grows too. And when compensation grows they get more applicants, I'd imagine. It's not like they had been getting few before but their hiring pipeline had been set up for the old rate of applicants, if this suddenly grew, they'd naturally get more hires. Especially considering that the additional applicants come from a cohort that had been compensated well enough to resist the pre-stock doubling comp numbers. When the headcount had hit backstops, some hard headcount limits they likely have had, only then they realized how much did they hire and now react to this by doing layoffs and, probably, revising their HR policies.
flyinglizard 4y ago
Facilitating a bank run on your own bank is quite silly. Which again reinforces the proverb “never attribute to malice that which can be explained by stupidity”.

by jmclnx 4y ago

latency-guy2 4y ago

Of course, you'll have to answer a few questions for your conspiracy theory: Why wait until 2023? Why do it after hiring at such a rate that you effectively increased your company's headcount by 50%+ in the last 2 years? What events are currently happening that would allow for this to happen? You can pretend like you have a standing for your theory all you want, but it's all nonsense compared to the simple fact that Powell and Yellen are here to force a recession.

pandaman 4y ago
What if these companies did not hire some concrete number of people but had a pipeline set up to pass a certain fraction of applicants? Seeing how people get hired by Google, for example, and then get into a "team assignment" it certainly looks to be a possibility. Then, what happens when the stock price doubles over two years and a significant fraction of the compensation is pegged to the stock price? Compensation grows too. And when compensation grows they get more applicants, I'd imagine. It's not like they had been getting few before but their hiring pipeline had been set up for the old rate of applicants, if this suddenly grew, they'd naturally get more hires. Especially considering that the additional applicants come from a cohort that had been compensated well enough to resist the pre-stock doubling comp numbers. When the headcount had hit backstops, some hard headcount limits they likely have had, only then they realized how much did they hire and now react to this by doing layoffs and, probably, revising their HR policies.

flyinglizard 4y ago

Facilitating a bank run on your own bank is quite silly. Which again reinforces the proverb “never attribute to malice that which can be explained by stupidity”.