The truth is that a majority of tech companies don't need 50%+ of their employees.
Google could lay off vast swathes tomorrow and be immensely more profitable without any loss in revenue.
The 2010s will be remembered as the golden era for tech employment. The second we start getting industry wide layoffs, the insanely high wage inflation we've seen will kick into reverse much faster than you probably believe possible.
Further, tech employees will be the first to suffer in a high inflation environment due to rising discount rate. Yet tech is such a small portion of the labor force that layoffs here basically mean zilch when it comes to the unemployment rate/inflation, and thus there's a long way for it to fall before the Fed adjusts policy
Google could lay off vast swathes tomorrow and be immensely more profitable without any loss in revenue.
The 2010s will be remembered as the golden era for tech employment. The second we start getting industry wide layoffs, the insanely high wage inflation we've seen will kick into reverse much faster than you probably believe possible.
Further, tech employees will be the first to suffer in a high inflation environment due to rising discount rate. Yet tech is such a small portion of the labor force that layoffs here basically mean zilch when it comes to the unemployment rate/inflation, and thus there's a long way for it to fall before the Fed adjusts policy