5 ms·
Wave of Bay Area tech layoffs may foreshadow something worse
- resuresu 3y ago[flagged]
- Daishiman 3y agoAnd nothing of value was lost. I’ve been watching the market closely for the past two years and it’s just stunning to see the number of startups that have no obvious value add proposition. It’s mostly dishonest swindling with no path to profitability.
- xg15 3y ago"pre-profit" indeed...
- toomuchtodo 3y agohttps://youtu.be/BzAdXyPYKQo https://youtu.be/BzAdXyPYKQo (audio nsfw)
- fnordpiglet 3y agoThe primary justification seems to be a pizza delivery startup going under and a pets.com imploding due to payroll issues, as well as some random doom tweet. I’ll put $5 on 2024 being one of the most frothy markets as materially relevant AI stuff hits production, the much predicted and prepared for recession never materializes, and inflations dips out of sight.
- reducesuffering 3y agoI agree. June tech layoffs are almost a 1 year low[0]. US unemployment is still record low, even with inflation mostly abating. [0] https://www.trueup.io/layoffs https://www.trueup.io/layoffs
- nerdchum 3y agoI see H1Bs becoming more and more prominent in the big companies both as leadership and as ICs. I was on a team (at a big famous SF company) that was all Indian people on visas and the entire leadership structure up to Satya Nadella was Indian. If anything this seems ominous for Americans.
- throwaway019254 3y agoIt’s not SF company. Microsoft is headquartered in Redmond, WA (Seattle area).
- flappyeagle 3y agoGithub and Linkedin are both bay area companies
- paxys 3y agoNeither of them have ever had Indian CEOs, so what they claim couldn't have been true.
- Kon-Peki 3y agoThe OP is probably referring to Sun Microsystems.
- NoZebra120vClip 3y agoSun and LinkedIn weren't in SF, and Nadella wasn't in leadership at Sun or GitHub, so GP's coy slip is bizarre and nonsensical.
- nerdchum 3y agoBingo my bad R.R. wasnt Indian person but he was out with ski accident for like a year...
- 3y ago
- m0llusk 3y agowhat a mess