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this post was submitted on 19 Feb 2024
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Cherry picking zoom makes for a terrible example. They were a uniquely positioned startup. Most of these companies were just jumping on the hiring bandwagon because that's what investors expected them to do, and now they're also laying people off because that's what investors want. It has fuck all to do with any kind of economic reality.
These execs are the ones who should be getting fired but our economy isn't run by rational actors, it's run by investors who only give a fuck about the next quarter's profits.