Re:Stripe Layoff 14% of Workforce
by ryandrake on Thursday November 03, 2022 @10:43AM
(#33451760)
I always wonder if the chicken or egg comes first. Maybe I'm living in a bubble, but I didn't see any broad slowdown until companies started laying off, saying there's this broad slowdown that's totally coming soon. Now, with people being laid off and tightening their spending, leading to an actual slowdown, the prophecy is fulfilled!
The last recession had a pretty clear cause you could point your finger at: The collapse of subprime mortgages. This one (presumably we're about to experience one) and the first dot-com crash didn't seem to be caused by anything besides a critical mass of businessmen agreeing "Well look at that, we're headed into an economic slowdown!"
Re:Stripe Layoff 14% of Workforce
by mc32 on Thursday November 03, 2022 @11:48AM
(#33452859)
Inflation goes up, cost of borrowing money goes up (cars, mortgages) -> less money to spend on non-essentials and the essentials get pared down to the minimum.
The last recession had a pretty clear cause you could point your finger at: The collapse of subprime mortgages. This one (presumably we're about to experience one) and the first dot-com crash didn't seem to be caused by anything besides a critical mass of businessmen agreeing "Well look at that, we're headed into an economic slowdown!"