[rossdavidh]

1) more excessive hiring during 2020-2021-early 2022 in tech than in most sectors 2) some sectors such as domestic manufacturing are ramping up capacity, thus need more people than they expected to, whereas tech companies that thought pandemic-induced changes would stick need fewer people than they expected to 3) lots of excess liquidity went to investors who liked to invest in tech, hoping to get the next FB/Apple/etc., thus it is more of a change for them when that stops happening 4) let's face it more bogus business ideas in the last 10 years were tech than anything else; when interest rates go up is when they face a reality check