Generally, so-called "tech" companies are the only ones losing "jobs"
These companies are shrinking and may eventually disappear
If other non-"tech" companies were shrinking then there might be cause for concern
But if the so-called "tech industry" dies, then the economy (cf. financial markets) may get a boost
This so-called "industry" produces very little if anything. Maybe source code. It derives revenue from the advertising budgets of others, but it doesn't produce ads. It sells access to human targets, targets of data collection, surveillance and advertising
Aside from a small number of entities that have monopolised this "business model", e.g., by acquiring the greatest number of targets, the rest have paid their employees using "zero interest" debt that sustains their "business" in the absence of sufficient revenue and absence of profits
But even zero interest loans have due dates
As it happened, interest rates eventually returned to non-zero
That small number of entities has stockpiled enormous sums of cash and has excellent credit
They will spend the cash and they will borrow more
Generally, so-called "tech" companies are the only ones losing "jobs"
These companies are shrinking and may eventually disappear
If other non-"tech" companies were shrinking then there might be cause for concern
But if the so-called "tech industry" dies, then the economy (cf. financial markets) may get a boost
This so-called "industry" produces very little if anything. Maybe source code. It derives revenue from the advertising budgets of others, but it doesn't produce ads. It sells access to human targets, targets of data collection, surveillance and advertising
Aside from a small number of entities that have monopolised this "business model", e.g., by acquiring the greatest number of targets, the rest have paid their employees using "zero interest" debt that sustains their "business" in the absence of sufficient revenue and absence of profits
But even zero interest loans have due dates
As it happened, interest rates eventually returned to non-zero
That small number of entities has stockpiled enormous sums of cash and has excellent credit
They will spend the cash and they will borrow more
And then we move to phase two