I’m unclear about two things:
- This seems like it’s a big problem for small startups, but a complete non-issue for FAANG. So why are the FAANGs doing such aggressive layoffs?
- Why is this in the public discourse until just now? Until a few weeks ago, the discourse seemed to be that the sudden discontinuation of ZIRP was the primary contributor to the tech job meltdown. Suddenly the narrative is changing, but nothing is new, given that tax code change happened in 2022.