Re:Yellen says government will help SVB depositors but rules...
by phamilton on Sunday March 12, 2023 @11:49AM
(#35121532)
> So the risk to workers' livelihoods is being way overblown
If this were 2015 I would agree. But it's 2023 and thousands of software engineers are already struggling to find work after layoffs. Companies shutting down en masse because of SVB will soften what is already an employer's market for talent.
This may hurt specific founders and VCs a lot, but total damages (in the form of a softer market for engineers) may hurt the average employee more, even if they aren't directly affected.
If this were 2015 I would agree. But it's 2023 and thousands of software engineers are already struggling to find work after layoffs. Companies shutting down en masse because of SVB will soften what is already an employer's market for talent.
This may hurt specific founders and VCs a lot, but total damages (in the form of a softer market for engineers) may hurt the average employee more, even if they aren't directly affected.