I seem to remember a story that there was a lot of “defensive hiring” — you would hire a lot of technical people to keep them from starting or joining a disrupt

I seem to remember a story that there was a lot of “defensive hiring” — you would hire a lot of technical people to keep them from starting or joining a disruptive startup. This would be a corollary of your higher interest rates pushing down employment by not allowing funding to flow to startups, but the end of such defensive hiring would serve to amplify the drop in hiring beyond just startup personnel.