That's nonsense. Maybe for a small number of companies in SV or for successful startups (which are rare).
But the vast majority of software developers get no or very little equity.
If my interpretation of the overarching sentiment here on HN is accurate, it is that the big tech companies make tons of profit and hence the layoffs are unnecessary. It is within that context that I said that.
do you realize that for most software engineers at the hi-tech companies, the majority of their compensation is in the form of equity?
and at startups, reduced headcount cost gives more runway for the company and hence employment.