Tech companies have laid off more than 400,000 people in the last two years. Competition for the jobs that remain is getting more and more desperate.
Finding a Tech Job Is Still a Nightmare | WIRED::Tech companies have laid off more than 400,000 people in the last two years. Competition for the jobs that remain is getting more and more desperate.
Yeah, and I have no idea where you are, but this goes far beyond the suspect cities like San Francisco. Not only are many of these workers spread out in tons of cities across the US (and world), it will also hurt wherever their funds were flowing to and the supply chains associated with them. Travel, electronics, food/dining, home furnishings, hobbies of all sorts, etc.
Another big difference is that a lot of these are “new money” people. And I’m not using that in a derogatory sense. It just means that their spending is likely to be much higher than “old money” individuals hitting the same payday.
If you’ve always had $10 million, you don’t go out and start buying shit like crazy even if you make another $2 m. But if it’s your first $2 m, you’re likely to go spend A LOT of it.
And that’s real economic growth. It’s the opposite of trickle-down economics (which just causes more hoarding of wealth and slowing of money exchanging hands).
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I know in my city the entire economy is basically kept afloat by tech workers blowing their money. I’m very concerned about the downstream too
Yeah, and I have no idea where you are, but this goes far beyond the suspect cities like San Francisco. Not only are many of these workers spread out in tons of cities across the US (and world), it will also hurt wherever their funds were flowing to and the supply chains associated with them. Travel, electronics, food/dining, home furnishings, hobbies of all sorts, etc.
Another big difference is that a lot of these are “new money” people. And I’m not using that in a derogatory sense. It just means that their spending is likely to be much higher than “old money” individuals hitting the same payday.
If you’ve always had $10 million, you don’t go out and start buying shit like crazy even if you make another $2 m. But if it’s your first $2 m, you’re likely to go spend A LOT of it.
And that’s real economic growth. It’s the opposite of trickle-down economics (which just causes more hoarding of wealth and slowing of money exchanging hands).