Okay, but why would these companies secretly know something that the rest of us doesn‘t? Maybe they are preparing, but it doesn’t tell us more about whether that‘s justified or not.
- Everyone overhired during the pandemic.
- Interest rates are impacting the business at all levels.
- Wall St demands sacrifice to the volcano gods. Microsoft and Amazon did layoffs, so must google.
why?
The Federal government prevented a depression by shooting a firehose of money at everything. NYC public schools alone bought almost a million iPads.
Tech companies have seen compensation skyrocket with no end in sight. Everybody laying off a bunch of people at the same time to flood the market means they all need to compete far less for people. Suddenly "hey I've got another offer, can you beat it?" becomes less feasible.
This is an industry-wide emergent strategy to limit compensation.
Notice how these companies are still hiring after the layoffs.
End of the day, when growth slows, it’s hard to justify some of these salaries, becuase you can’t raise prices forever. I lost an employee who is getting paid $450k by AWS to do customer engineer type work. It’s just not worth that to me, and we hired a replacement recent graduate who went to a school that FANG companies will bin him for. The replacement makes $125k, is great, and will probably be with us for 3-4 years.
He's going to do whatever it takes to stop regular people from getting higher wages.
Spending free fedcoin will require recipient to signup for FedCoin also. Then, the real fun begins.
To be sure, Google will have some interesting and proprietary data, but the signal to noise ratio will still be tiny.