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The primary concern is the people who have lost jobs, and for some, careers and dreams. Some of them are probably reading HN today. But for the economy, it cou

The primary concern is the people who have lost jobs, and for some, careers and dreams. Some of them are probably reading HN today. But for the economy, it could be a good thing: Talent moving from moribund, unambitious, lower-return businesses to dynamic, often new ones that are hiring and expanding for an optimistic future. (I say unambitous because they are, at least in this situation, cutting costs and talent rather than investing in and taking risks for a bold future.) Unemployment is low, the economy is growing. Usually layoffs, etc. happen widely when the economy is slow and unemployment high, and then the newly unemployed have a hard time finding new jobs. If it's going to happen, in some senses now may be the perfect time for the individuals and the economy.

AlexErrant 3y ago
How does this reconcile with "enshitification" as popular platforms with millions of users try to become profitable by removing features and paywalling access? My understanding was that the zero-interest era was the time of optimism and building new cool things.
wnc3141 3y ago
I personally don't think its bad if firms just find excuses to keep people on payroll, regardless of the strategic significance.
- pie420 3y ago
  that's how companies become walking zombies with entire departments that don't do anything, and eventually go under
  - seizethecheese 3y ago
    And how economies become that way. In places where they’ve made it very hard to fire, the economy inevitably slows.
- octacat 3y ago
  Not gonna happen. If other companies say "we are firing people", other companies would do the same (unless you are apple). We've seen it before with hiring. Hire not because we need, but because everyone is hiring.
ProllyInfamous 3y ago
>Unemployment is low But underemployment (or even WILL for employment) are felt massively in certain communities (e.g. entry-level gig jobs). I personally know a few people (with more than enough savings) to simply "not participate" in the current economy. Can't fault them (or myself).

AlexErrant 3y ago

How does this reconcile with "enshitification" as popular platforms with millions of users try to become profitable by removing features and paywalling access? My understanding was that the zero-interest era was the time of optimism and building new cool things.

wnc3141 3y ago

I personally don't think its bad if firms just find excuses to keep people on payroll, regardless of the strategic significance.

pie420 3y ago
that's how companies become walking zombies with entire departments that don't do anything, and eventually go under
- seizethecheese 3y ago
  And how economies become that way. In places where they’ve made it very hard to fire, the economy inevitably slows.
octacat 3y ago
Not gonna happen. If other companies say "we are firing people", other companies would do the same (unless you are apple). We've seen it before with hiring. Hire not because we need, but because everyone is hiring.

ProllyInfamous 3y ago

>Unemployment is low But underemployment (or even WILL for employment) are felt massively in certain communities (e.g. entry-level gig jobs). I personally know a few people (with more than enough savings) to simply "not participate" in the current economy. Can't fault them (or myself).