Make no mistake, the tsunami of #tech #layoffs is not about the recession. It’s about striking back at “uppity” labor, after they enjoyed a shift in the balance of power from #remotework and DEI #activism .

These companies are reporting record profits. Inflation is just cover. It’s because they can, because there’s social cover for it, because there’s money left on the table and having “some” money isn’t enough.

It’s nothing short of class warfare.

@Haste it seems to me that this is the Web 2.0 bubble bursting just like the Web 1.0 ("dotcom") bubble burst. Hyperscale and social media were exciting dreams but now they've been achieved and we're into a dismal period of consolidation and cost reduction rather than innovation (maybe AI excepted).