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It's not a secret, investors told tech companies to reduce headcount and pay. https://www.businessinsider.com/alphabet-investor-calls-on-company-to-cut-headcoun

• gruez 3y ago
  Isn't that what I said in the original comment? >shareholders/board demand immediate profits rather than future growth -> executives oblige
  • steele 3y ago
    Good thing there is absolutely no overlap between those shareholders, board members and executive leadership!
    • gruez 3y ago
      If you apply that logic, it'd be impossible for any publicly traded company to react to macroeconomic factors, because they all have overlaps in shareholders through institutional investors and/or ETFs.
      • steele 3y ago
        Slippery slope fallacy. Only thing Silicon Valley has in common with the rest of the publicly traded market is that the people at the apex are invested in other sectors that they aren't as close to and may not be able to collectively influence, and those cats got in at sweetheart deals. The Bay Area behemoths are effectively incorporated gen Z to millennials, few not even drinking age. If you think the macroeconomic factors are the driving force of compressing this highly speculated arena, I've got boat load of expensive spinning disk hard drives to sell you at exorbitant prices caused by the tsunami in Thailand.