Do not believe the "oh we were hiring for a different future business plan" ruse. The tech business plan is UNCHANGED. All tech businesses rely on "network economic returns to scale". They want to tie you in to a platform where everyone else is also tied in and networked on the same platform and thereby charge monopoly rents forever. All the societal-scale software businesses you hear of in our time: google (the most evil), facebook (also evil), etc etc are "network economics" businesses. Even Tesla wants this network tie-in "action".
Building out societal scale platform businesses takes DECADES. Till that time, "pie in the sky" visions of future market value, preferably DISCOUNTED BACK AT ZERO INTEREST RATES helps sustain the stock price of these monsters. Their business plan hasn't changed. INTEREST RATES HAVE CHANGED. The 12+ years of zero rates were manna from heaven for these societal-scale s/w companies. IT's over.
It sucks but that’s the reality of letting huge non unionized corporations exist. They overhire and fire cause it’s more efficient management wise. Good luck to those let go
Yeah that was my point - if these workforces were unionized, it would be harder to lay them off and employers would think twice before hiring people on a whim with no intention of keeping them.
It happens at in businesses. Gf used to work as a mid level manager at amusement parks and upper management just played dumb till it was firing time. Radical legal reforms making it safe to unionize is the only solution I see fixing anything
The other thing is even assuming it's fine for them to lay people off like this, surely they could treat them like human beings and give them a phonecall instead of a middle of the night email many people didn't even see.
Hey all, will try to answer any questions you might have here. Please become a paid subscriber so I can keep doing this! - Ken
great links, thanks! one million people stormed the streets of paris! US network MSM:....crickets....not a picture, not a video.
Do not believe the "oh we were hiring for a different future business plan" ruse. The tech business plan is UNCHANGED. All tech businesses rely on "network economic returns to scale". They want to tie you in to a platform where everyone else is also tied in and networked on the same platform and thereby charge monopoly rents forever. All the societal-scale software businesses you hear of in our time: google (the most evil), facebook (also evil), etc etc are "network economics" businesses. Even Tesla wants this network tie-in "action".
Building out societal scale platform businesses takes DECADES. Till that time, "pie in the sky" visions of future market value, preferably DISCOUNTED BACK AT ZERO INTEREST RATES helps sustain the stock price of these monsters. Their business plan hasn't changed. INTEREST RATES HAVE CHANGED. The 12+ years of zero rates were manna from heaven for these societal-scale s/w companies. IT's over.
It sucks but that’s the reality of letting huge non unionized corporations exist. They overhire and fire cause it’s more efficient management wise. Good luck to those let go
Yeah that was my point - if these workforces were unionized, it would be harder to lay them off and employers would think twice before hiring people on a whim with no intention of keeping them.
It happens at in businesses. Gf used to work as a mid level manager at amusement parks and upper management just played dumb till it was firing time. Radical legal reforms making it safe to unionize is the only solution I see fixing anything
The other thing is even assuming it's fine for them to lay people off like this, surely they could treat them like human beings and give them a phonecall instead of a middle of the night email many people didn't even see.
please advocate for mandatory disclosure of straight payroll in "the income statement" of every corporation public and not for profit.
Is this supposed to be a 'gotcha!' to Janet Yellen? It appears she is merely describing something in economics.