[Nextgrid]

> If a company start optimizing on diversity metrics instead of on ability, then they’ll be crushed by market forces from companies who optimize on ability.

This is only true if the company has a real product that customers pay for. If the company is based on "growth and engagement" then there is no real product and their survival merely depends on investor goodwill for which PR and virtue-signalling is important (this is the main reason companies boast about D&I so much).

[spacephysics]

I agree, however the companies that have a real product will survive longer on average. A real product has a better chance of enduring hardships (bear market/recession) than investor-funded growth companies. We haven’t seen how today’s tech investments will change during a real economic downturn. Last one we had was arguably over 10 years ago.

But with the top X% having far more capital, we may continue to see investments, even in bad economic times. But I think that’s unlikely.

[Nextgrid]

This is only true assuming your product costs nothing to run and doesn't rely on network effects, otherwise the other side will keep offering its product at a loss until you go out of business. They might themselves go out of business later, but at this point your company is already long gone so that doesn't matter.