yeah, it would be so nice if our industry hadn't over-hired for the last five years on the promise of everlasting ZIRP and trickle-down funding from adtech giants. alas, here we are.
Why would that be nice? Having over-hired and still doing just fine means that for the period that companies were over-provisioned they were disbursing profits to labour (workers) rather than capital (shareholders).
> Having over-hired and still doing just fine means that for the period that companies were over-provisioned they were disbursing profits to labour (workers) rather than capital (shareholders).
Shareholders caught wind of that and are taking corrective action.