321–330 of 540 posts
Is it known whether this sort of hiring freeze affects all levels? I have a friend who's in-progress for a staff role at Meta and I had heard in the past that staff was often "immune to hiring freezes."
"Active interview loops will continue," but also "we will not make any offers until the freeze is lifted." So, go figure. Edit: IC7+ is explicitly not frozen. > The only roles that will remain open are SWE IC7+, Data Center roles, and 2023 Intern, Pathway and AI STE class hiring
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They also have a cash mountain and I'd like to own a company that makes 94% of last years iphone sales. Over 200bn the last time I saw a figure (90bn in cash, the rest invested). https://www.investors.com/etfs-and-funds/sectors/sp500-compa...
DOesn't matter how much cash they have. Ownership will demand cuts if earnings fall.
> “I had hoped the economy would have more clearly stabilized by now, but from what we're seeing it doesn't yet seem like it has, so we want to plan somewhat conservatively,” Zuckerberg said. A Meta spokesperson declined to comment. The economy is stabilizing. It's being weaned off of ultra-loose money for the first time in years. The stock market is starting to behave more rationally, demanding that a company whose…
A little dated [2018], but still rings true: The average tenure for engineers at many major tech companies is ~3 years. Thus, you'd expect new hires at a rate of 30% annually just to maintain staffing levels. To determine headcount growth you, should look at year-over-year changes in total employee count, not just the number of new hires. TLDR: Meta's new-hire rate is not atypical. https://www.businessinsider.com/ave…
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> The economy is stabilizing. The economy is in the early phases of the biggest Fed tightening since at least the 1980s. If you know where that will end up, congrats. For the rest of us, it's very much uncharted waters.
> The economy is in the early phases of the biggest Fed tightening since at least the 1980s. But the 2010s through 2020s period is a myth, a figment of cheap money. This money was made cheap to help us get out of the 2007/2008 recession, but the cheap money clearly went on too long. Its warped all of our thinking. We should have been raising rates and paying down the Fed's balance sheet a long, long time ago. To be f…
So there's pretty much nowhere else to go, and if we want to have the option to lowering rates to combat future crises... well it looks like we'll have to pay for the option.
Human complacency never ceases to fuck things up. Those who seriously plan ahead are a minority, and don't control the ballot box.
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Not even compete with Android, just build a better Android phone, and sell it near cost (or at cost). Would have given them troves of data I'm sure. The muscle is around contract negotiation with the carriers and co-opting those partnerships, but they had the money to burn on this.
Who in their right mind would buy a Facebook phone, considering the neverending security issues, data leaks and total disregard for user privacy?
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> The economy is in the early phases of the biggest Fed tightening since at least the 1980s. But the 2010s through 2020s period is a myth, a figment of cheap money. This money was made cheap to help us get out of the 2007/2008 recession, but the cheap money clearly went on too long. Its warped all of our thinking. We should have been raising rates and paying down the Fed's balance sheet a long, long time ago. To be f…
Plus we pretty much lowered rates to 0. Europe's experimentation with negative interest rates yielded... well it's debatable whether it yielded anything of substance (pun intended). So there's pretty much nowhere else to go, and if we want to have the option to lowering rates to combat future crises... well it looks like we'll have to pay for the option. Human complacency never ceases to fuck things up. Those who ser…
Sadly true.
And sometimes this reduces the benefits of planning ahead.
If the fed money printer will bail is out every time then it makes financial sense to splurge.
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China doesn't have another generation. They'll be going into a very stark population collapse that's worse than what Japan is experiencing now, where adult diapers outsell baby diapers. I expect that China's economy and influence will take the shape of an upside-down U, with the peak in the next decade. If they're going to move on Taiwan, they cannot wait forever. They came close to catching up the US, but I don't th…
Is there any other country that ever showed anything other then upside-down U in terms of economy strength and influence. To best of my knowledge every country, empire or society rises and eventually falls. Probably the best known example is Roman empire but every other society I can think of exhibits same pattern.
Don't be so sure that everything follows the patterns of the past.
But, we best not remain complacent.
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> The economy is stabilizing. The economy is in the early phases of the biggest Fed tightening since at least the 1980s. If you know where that will end up, congrats. For the rest of us, it's very much uncharted waters.
That's what I'm hearing; we didn't dodge a recession it just hasn't started yet. In TX energy prices are already up a lot this year. We generate a substantial percentage of electricity from natural gas, and exports are up for obvious reasons. Winter is coming.
It's the Europeans and East Asians who are being royally screwed by gas prices at the moment, and that pressure isn't likely to cease anytime soon, particularly with the destruction of Nordstream.
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This is my fear at Google. I'm now remote for family reasons. If for some reason they decide to do layoffs the "cut the remote staff" approach might feel attractive for foolish execs.
Lots of smaller companies that have comparable compensation will continue to offer work from home. If a non-FANG position isn't a dealbreaker for you, you can do just fine if Google does end up requiring everyone to go back to the office.
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> The economy is in the early phases of the biggest Fed tightening since at least the 1980s. But the 2010s through 2020s period is a myth, a figment of cheap money. This money was made cheap to help us get out of the 2007/2008 recession, but the cheap money clearly went on too long. Its warped all of our thinking. We should have been raising rates and paying down the Fed's balance sheet a long, long time ago. To be f…
Plus we pretty much lowered rates to 0. Europe's experimentation with negative interest rates yielded... well it's debatable whether it yielded anything of substance (pun intended). So there's pretty much nowhere else to go, and if we want to have the option to lowering rates to combat future crises... well it looks like we'll have to pay for the option. Human complacency never ceases to fuck things up. Those who ser…
Its a known fact that the Fed Rate takes months, maybe years, before its effects propagate through the economy. The 2.25% raise in just a few months is the steepest increase in decades, one of the most proactive moves ever done.
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But we as a society need to also be proactive and understand what this means. It means higher mortgage rates, higher rates for car loans, more difficult student loans, more expensive debt.
There are a couple of... other state banks... who are ignoring the issue and are dropping rates right now, despite the current state of the economy. Those are the ones who seem to have a short-sighted view on the world.
USA is actually leading the charge and is more proactive than most other countries on this matter. Furthermore, our political system is talking about it, and we're right now talking about it here on news.ycombinator.com.
We're all being proactive and forward looking right now. And even back in 2020, the political system had the debates and forward looking statements about inflation risk vs COVID19 recession risks. No one ever stopped looking forward.
Was it perfect? No. But no one's perfect when looking into the future. But the political system absolutely discussed and decided upon what we should do. I don't think anybody was short-term thinking at any of these points, we were just trapped between bad choices.
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For the most part, the super-low rates from 2010 through 2019 have been confirmed to be a good idea, as it kept inflation at the 2% for the duration. We were roughly on target. But we also were in a mystical time, of warped thinking of cheap money for the duration.