Well, hopefully there's a silver lining to all this: Talented and underappreciated engineers (or those just caught in the crossfire of shitty policies) will go on and start new, more exciting companies.
Its an inevitability. As large companies focus on profitability of existing business lines, small companies entertaining risk will discover new markets. High growth in new markets (with fewer competing startups, easier hiring, and institutional blind spots) will make investment attractive -even in a high rate environment. Of course each dollar of fundraising will be hard earned - requiring those startups to have a much higher bar for adding real value and sustainable business model. This cycles repeats itself across history.
6 years ago, with cheap money and everyone eager to start new firms makes success more of a lottery than a systematized effort. I'd rather be a startup founder raised on lean capital with less of a crowded marketplace.
Then they will realize that the media has been fully monopolized and can't find get any users and that it's not so easy outside of the cushy confines of Big Tech.
I still haven't gotten over the fact that most of these corporate employees think that the majority of the population literally became crazy over the past few years.
They must think we all got long COVID with brain damage and that the vaccines protected them from this.
Have a family and esp these employees in high CoL cities? Very tough.
Speaking from experience. Been there done that.
"We'll have all this new innovation via new startups now!" is such a feel good sentiment to layoffs but in reality is nowhere close to a solution for the affected employees
