| Generally, so-called "tech" companies are the only ones losing "jobs" These companies are shrinking and may eventually disappear If other non-"tech" companies were shrinking then there might be cause for concern But if the so-called "tech industry" dies, then the economy (cf. financial markets) may get a boost This so-called "industry" produces very little if anything. Maybe source code. It derives revenue from the advertising budgets of others, but it doesn't produce ads. It sells access to human targets, targets of data collection, surveillance and advertising Aside from a small number of entities that have monopolised this "business model", e.g., by acquiring the greatest number of targets, the rest have paid their employees using "zero interest" debt that sustains their "business" in the absence of sufficient revenue and absence of profits But even zero interest loans have due dates As it happened, interest rates eventually returned to non-zero That small number of entities has stockpiled enormous sums of cash and has excellent credit They will spend the cash and they will borrow more And then we move to phase two |