[throwaway23236]

I cannot read the whole article because of the paywall, but I do find it ironic that "tech" consists of Meta, Twitter, Salesforce, Stripe, and some other companies while there are hundreds of smaller tech companies that seem to be doing ok.

Some of the above companies have become huge monoliths and this is the market adjusting itself. The companies growth has slowed and smaller, leaner, more agile companies are out maneuvering them.

It sucks to see people losing their jobs and getting laid off, but the recession and closing market space has triggered off more wartime CEO actions instead of peacetime CEO. Instead of expanding, these leaders realized their expansion is or has come to an end and instead they are cutting all the excess they can to stay afloat.

And while I do not like Elon Musk or Mark Zuckerberg, I think they are reading the market correctly on what is coming and what they can do to put their businesses in the right place for the future.

[squaredot]

I agree. The other day someone commenting the layoffs of meta, noted that the company has still more employees than at the end of last year. These changes are bad for the people involved, but even if the numbers are big, their relative amount (percentage) seems to me more like a temporary swing.