> Shopify, hired like mad during the pandemic boom knowing full-well that they would end up laying off a bunch of those new hires once things got "normal" again.
You should read Tobi's post about what happened. That's not how it was.
https://news.shopify.com/changes-to-shopifys-team#
> Before the pandemic, ecommerce growth had been steady and predictable. Was this surge to be a temporary effect or a new normal? And so, given what we saw, we placed another bet: We bet that the channel mix - the share of dollars that travel through ecommerce rather than physical retail - would permanently leap ahead by 5 or even 10 years.
> It’s now clear that bet didn’t pay off.
> Ultimately, placing this bet was my call to make and I got this wrong.
Shopify grew like mad, but it wasn't from vanity. If the bet had paid off, it would have meant a permanent step up in company value.
Bias: I'm one of the last developers hired before the stock crashed.
You should read Tobi's post about what happened. That's not how it was.
https://news.shopify.com/changes-to-shopifys-team#
> Before the pandemic, ecommerce growth had been steady and predictable. Was this surge to be a temporary effect or a new normal? And so, given what we saw, we placed another bet: We bet that the channel mix - the share of dollars that travel through ecommerce rather than physical retail - would permanently leap ahead by 5 or even 10 years.
> It’s now clear that bet didn’t pay off.
> Ultimately, placing this bet was my call to make and I got this wrong.
Shopify grew like mad, but it wasn't from vanity. If the bet had paid off, it would have meant a permanent step up in company value.
Bias: I'm one of the last developers hired before the stock crashed.