[henryfjordan]

Sundar Pichai went on a big media tour saying it was time for tech layoffs. Investors on wall street think he knows what he's talking about so they went around to all the board meetings and VCs saying "Google is cutting costs, we need to be doing the same at our companies". You won't be able to raise money or look good on wall street if you don't look "fiscally responsible" right now and that means "making the hard choice to let people go". Nevermind that it's actually easier to let people go than to fight with the board who's been listing to Pichai quotes on MSNBC for the last few months.