Tech companies keep falling for the forever fallacy
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Re: Tech companies keep falling for the forever fallacy
#2Re: Tech companies keep falling for the forever fallacy
#3Some additional context, hidden six paragraphs down to enable the clickbait:
>I call it the "forever fallacy." It's really quite simple. The forever fallacy is the belief that the circumstances that led to extraordinary growth will continue indefinitely, even when they obviously aren't. It's the idea that growth, no matter how irrational, will continue because the change in circumstances that caused it is permanent.
Re: Tech companies keep falling for the forever fallacy
#4Oh, they all know it's not going to last. But they cannot say it out loud. Why? Because the stock price will be punished and because someone's empire building promotion will be blocked if they don't agree.
Until they keep rewarding bullshit management practices, nothing will change. If the incentive system asks managers to build empires to get promoted, that is exactly what they will do. No manager is asked to be thought leaders. No manager is rewarded for making good calls.
Management in tech is quite literally babysitting engineers.
Re: Tech companies keep falling for the forever fallacy
#5I don't know, seems like a weak article. It just names the obvious examples of companies ("tech"!) that over-hired and all that. Others still celebrated the increased demand but also planned ahead, and not everyone has laid off. Guess they don't talk about those.
Re: Tech companies keep falling for the forever fallacy
#6Some additional context, hidden six paragraphs down to enable the clickbait: >I call it the "forever fallacy." It's really quite simple. The forever fallacy is the belief that the circumstances that led to extraordinary growth will continue indefinitely, even when they obviously aren't. It's the idea that growth, no matter how irrational, will continue because the change in circumstances that caused it is permanent.
call it the pandemic + massive money printing example. a lot of companies have their reckoning coming
Re: Tech companies keep falling for the forever fallacy
#7How do you achieve infinite growth on a planet with a finite population and resources? It should be obvious to most, yet the supposed "smartest guys in the room" are the first to stumble through it.
Re: Tech companies keep falling for the forever fallacy
#8They did exactly what any company would do in their position as publicly traded companies. This finger-wagging from a free market magazine is dripping in hypocrisies.
If the author didn’t like how companies over-hired and built unsustainable labor forces, then they should criticize the market that creates these incentives. Of course, the day that Inc magazine becomes socialist is the day that Hell freezes over.
Don’t hate the player, hate the game.
Re: Tech companies keep falling for the forever fallacy
#9How do you achieve infinite growth on a planet with a finite population and resources? It should be obvious to most, yet the supposed "smartest guys in the room" are the first to stumble through it.
Nobody ever got rich by questioning the wisdom of "line go up".
Re: Tech companies keep falling for the forever fallacy
#10How do you achieve infinite growth on a planet with a finite population and resources? It should be obvious to most, yet the supposed "smartest guys in the room" are the first to stumble through it.
Nobody ever got rich by questioning the wisdom of "line go up".
The Big Short guys would vehemently disagree with this.