[DeathArrow]

>The exceptions are companies with large service-based businesses that may or not qualify as tech companies based on your definition.

Like Amazon and Netflix? And if companies are spending less for online ads, that can hit Google and Facebook, too.

[sulam]

I work at one of those two ad-supported businesses, and would be very surprised if there are large scale layoffs.

And yes, as one of the responders noted, I meant the services companies. An IBM might do a large layoff, but I generally wouldn't put that in the same category as Amazon or Netflix. I've worked through three economic cycles now (at least I think we're seeing the end of the third) and while they haven't been great for everyone in the industry, we've been better off than most others. For instance, just to pick on one profession, I know way more lawyers who've become software engineers than vice versa.

[kgermino]

I think they were referring to companies like Accenture, IBM, or PwC. The "Professional Services" industry employs a ton of software developers and is fairly pro-cyclical.

[WisNorCan]

And all companies that focus on selling to other startups. Like Brex. They were the first to pop during the dot com bust.