431–440 of 622 posts
Earlier quoted context omitted.
Or, equivalently, "people like that are paid a lot and are engrossed in their careers." When someone makes $500k+, what does "unpaid overtime" even mean?
Money doesn’t magically make burnout go away. In fact, it will make it worse, because you’ll keep telling yourself to hold on for the money while your mental health exponentially deteriorates.
> The current macroeconomic environment is tough No, it isn't, and it's embarrassing at this point to continue insisting this. The macroeconomic environment is good, particularly in the United States. Business investment is growing at 3% a quarter (annualized), which is better than the average over the past decade. Employment is growing rapidly. Inflation has been tame over the past six months. And wages are growing…
> The current macroeconomic environment is tough No, it isn't, and it's embarrassing at this point to continue insisting this. The macroeconomic environment is good, particularly in the United States. Business investment is growing at 3% a quarter (annualized), which is better than the average over the past decade. Employment is growing rapidly. Inflation has been tame over the past six months. And wages are growing…
So all these tech companies who've laid people off are wrong and it's company specific issues? Don't think so.
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Well, I am glad top see so many people deluded and thinking we are not in a recession. The only reason it doe snot look like a recession yet is because inflation is still higher then the Fed Rate. This is why the Industrials are not layoff as many people yet. > You will not see tech companies balloon to the same number of employees ever again I remember people sating this in 1999. > both of those reasons are amplifie…
What do you feel about the figures brought up in the above posts? https://news.ycombinator.com/item?id=34725407 https://news.ycombinator.com/item?id=34727185 https://news.ycombinator.com/item?id=34726977
Economic indicators may look solid, but why? I assert it is because the Fed rate is STILL below the inflation rate. This is why the housing market has not totally seized up yet. The next inflation numbers will be high and then you will see people scrambling again.
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Lowest unemployment rate in 50 years: https://fred.stlouisfed.org/series/UNRATE
More people than ever worked two jobs last year: https://fred.stlouisfed.org/series/LNU02026631
If you're suggesting people worked two jobs out of desperation, we need to see the evidence.
> The current macroeconomic environment is tough No, it isn't, and it's embarrassing at this point to continue insisting this. The macroeconomic environment is good, particularly in the United States. Business investment is growing at 3% a quarter (annualized), which is better than the average over the past decade. Employment is growing rapidly. Inflation has been tame over the past six months. And wages are growing…
Disney is laying off 7k workers... >>> “While this is necessary to address the challenges we’re >>> facing today, I do not make this decision lightly,” said >>> CEO Bob Iger, " From the same article >>> ...the company released better than expected financial >>> results for the fourth quarter of 2022. Disney revenue in >>> the quarter rose 8% to $23.5 billion, edging past >>> estimates of $23.4 billion Truly they are…
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The fun thing is that their R&D cost is dwarfed by expenses on Sales&Marketing and General&Administrative. So, if I understand their financial statements for 2022FY correctly, a 7% cut on R&D could lower their total expenses by 2% at best https://ir.gitlab.com/news-releases/news-release-details/git... Even cutting their R&D 100% would not make GitLab profitable, if other expenses are kept the same, so economics is cl…
How do we know they're laying-off people that belong to "R&D" category? Maybe they're cutting people from Sales&Marketing or General&Administrative. There's not too much detail in that press release. Thanks for sharing the link to the report!
Also, I looked at the wrong year. Currently they are in Q4 2023FY, the statements for the last quarter are here https://ir.gitlab.com/news-releases/news-release-details/git...
> The current macroeconomic environment is tough No, it isn't, and it's embarrassing at this point to continue insisting this. The macroeconomic environment is good, particularly in the United States. Business investment is growing at 3% a quarter (annualized), which is better than the average over the past decade. Employment is growing rapidly. Inflation has been tame over the past six months. And wages are growing…
Disney is laying off 7k workers... >>> “While this is necessary to address the challenges we’re >>> facing today, I do not make this decision lightly,” said >>> CEO Bob Iger, " From the same article >>> ...the company released better than expected financial >>> results for the fourth quarter of 2022. Disney revenue in >>> the quarter rose 8% to $23.5 billion, edging past >>> estimates of $23.4 billion Truly they are…
> The current macroeconomic environment is tough No, it isn't, and it's embarrassing at this point to continue insisting this. The macroeconomic environment is good, particularly in the United States. Business investment is growing at 3% a quarter (annualized), which is better than the average over the past decade. Employment is growing rapidly. Inflation has been tame over the past six months. And wages are growing…
> but not rapidly in a wage-inflation spiral.
inflation doesn't feel Tame for my extended family.
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This is the correct answer. The Fed rate is the main driver for these layoffs. The fed is trying to cause a slowdown in the economy (including layoffs) in order to temper inflation.
This isn't an explanation. The job market has been red hot over the past year, and the total of tech layoffs comprise a small fraction of overall job growth in the US. HN users think there is a recession because they are only focused on their particular industry, and refuse to look at what the actual economy is doing.