The Tech industry implosion - the truth in 34 words

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In two parts:
Thesis (The Atlantic):

Why Everything in Tech Seems to Be Collapsing at Once
The tech industry seems to be in a recession. Although overall unemployment is still very low, just about every major tech company—including Amazon, Meta, Snap, Stripe, Coinbase, Twitter, Robinhood, and Intel—has announced double-digit percentage-point layoffs in the past few months. The stock valuations for many of these companies have fallen more than 50 percent in the past year.

Watching this surge of mass layoffs in big tech companies, plus the lurid chaos unfolding at Twitter over the past few weeks and the spectacular ongoing implosion of crypto, the big question on my mind is: Why is it all happening at once?

Synthesis (Pixy Misa):

Because you locked people into their homes while pumping trillions of dollars into the economy, and then hiked interest rates to combat the inevitable inflation, creating and then bursting a massive bubble.

You idiots.

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About this Entry

This page contains a single entry by DaveH published on November 22, 2022 2:51 PM.

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