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by vineyardmike
1216 days ago
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The success is two fold: 1. layoffs make people desperate and reset the expectations. Eg I made 300k at Google but when unemployed I’ll take a job for 100k at a random company. Then Google can hire back at 200k and be the top salary again. 2. Layoffs make the employees scared of being laid off. They don’t expect raises, just employment. They work harder for less just to keep a job. Look at Amazon announcing most people won’t get a raise or even a stock refresh with the stock crash. This works at scale even as some individuals and companies don’t comply. Bonus: layoffs (somewhat) reset the cost basis of the company and save a ton in a long term downturns. It gives cover to kill that blockchain department that everyone realizes they don’t need. |
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There goes Web 3 (and 2.5). I guess we'll be stuck with sucky Web 2 for a while still, while all the aunties are onboarding.