Big Tech Layoffs
The Madness of Capitalism
GDP growth was stronger than expected. Unemployment remains historically low. Supply chain issues continue to work themselves out. China is entering a period of strong projected growth. The Fed has even signaled that it will slow the pace of interest rate increases. And yet, the tech sector is laying people off like you read about? What’s behind the doom and gloom in Silicon Valley and some areas on Wall Street? We look into the recent spate of mass layoffs and try to square the tech industry narrative with real economic facts on the ground. But we begin with an update from Max on what’s in the works and behind our recent slowdown in episodes.
Episode Timestamp + Link | Clip Link
- 00:04:35 | TODAY: US economy shows signs of growth amid fears of recession
- 00:04:45 | Al Jazeera English: Is a global recession looming in 2023?
- 00:05:05 | CNBC International: What’s going to happen to Big Tech’s laid off workers?
- 00:14:18 | Bloomberg Television: Summers: 6% Unemployment Most Likely Needed for 2% Inflation
- BNN Bloomberg: San Francisco Mayor Warns of Budget Deficit as Remote Work Hits Revenue
- The New York Times: Laid Off in Your Living Room: The Chaos of Remote Job Cuts
- Bloomberg: Big Tech Layoffs Are Hitting Diversity and Inclusion Jobs Hard
- Forbes: For Laid-Off Tech Workers On H-1B Visas, There Aren’t Enough Jobs To Go Around
- The New York Times: For Tech Companies, Years of Easy Money Yield to Hard Times
- NPR: 5 takeaways from the massive layoffs hitting Big Tech right now
- The New York Times: How Tech Won the Pandemic and Now May Never Lose
- Yale University: The Silicon Valley Syndrome
- Fast Company: These types of tech workers are most likely to get laid off
- Mark Zuckerberg on Facebook
- The New York Times: ‘A Perfect Positive Storm’: Bonkers Dollars for Big Tech
- Forbes: Spotify, Alphabet And Meta Lead Tech Stock Surge After Massive Layoff Announcements
- Fast Company: Wall Street layoffs continue across the board. Here’s the latest.
- Forbes: Goldman Sachs And Morgan Stanley Both Miss Earnings Estimates As Mixed Banking Results Continue