This seems like the juiciest bit:
> Hiring market was booming late 2021 and early 2022. The RSU and signing bonuses were rising at an alarming rate irking wall st. The pace of stock grants for hiring talent was not sustainable. Wall st fund managers were especially critical about the dilution of the stock to sustain the hiring and retention.
> Major wall st fund managers and stock holders started putting together a plan to put pressure on the wage and RSU growth. There were multiple leaks on Reddit (which is where I got the early wind of these planned industry wide layoffs) where hedge fund employees and staff were talking about dumping as high as 300-500K tech employees over year to put serious pressure on wage growth.
> If the CEOs and CFOs were not receptive to the idea they would pressure the board. A lot of major share holders have their person on the boards of their major holding companies. Our overlords had made up their mind and nothing could stop them.
> I heard much later from someone who was present at Jackson Hole Economic Symposium in Aug 2022 that these low-key discussions started taking place between CEOs, board members, large tech investors and large fund managers at Jackson hole.
I would like to see an investigation of this. It sounds plausable to me, but you never know with posts like this if they actually reflect inside info or are just some guy LARPing being an insider.
> Hiring market was booming late 2021 and early 2022. The RSU and signing bonuses were rising at an alarming rate irking wall st. The pace of stock grants for hiring talent was not sustainable. Wall st fund managers were especially critical about the dilution of the stock to sustain the hiring and retention.
> Major wall st fund managers and stock holders started putting together a plan to put pressure on the wage and RSU growth. There were multiple leaks on Reddit (which is where I got the early wind of these planned industry wide layoffs) where hedge fund employees and staff were talking about dumping as high as 300-500K tech employees over year to put serious pressure on wage growth.
> If the CEOs and CFOs were not receptive to the idea they would pressure the board. A lot of major share holders have their person on the boards of their major holding companies. Our overlords had made up their mind and nothing could stop them.
> I heard much later from someone who was present at Jackson Hole Economic Symposium in Aug 2022 that these low-key discussions started taking place between CEOs, board members, large tech investors and large fund managers at Jackson hole.
I would like to see an investigation of this. It sounds plausable to me, but you never know with posts like this if they actually reflect inside info or are just some guy LARPing being an insider.