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People seem to forget that the dot com boom happened under very similar interest rates as today, and the tech companies that are announcing layoffs for the firs
by laidoffamazon 3y ago
People seem to forget that the dot com boom happened under very similar interest rates as today, and the tech companies that are announcing layoffs for the first time ever like Google are the least sensitive to interest rate shifts because they have their own massive treasuries.
What we are really seeing is massive extrapolations from 2020 and 2021 being completely off and companies having to manage more realistic growth expectations.
- pyb 3y agoAgree with the first part. Mark Zuckerberg is not laying people off because "higher interest rates => no one wants to invest in Meta any more". He's laying people off because he has found the excuses he needed. Rightly or wrongly, he simply wants to follow Elon in building a much leaner organisation.
- 15457345234 3y ago> massive extrapolations from 2020 and 2021 being completely off They really did think that nobody would be going outside ever again...