Microsoft (who owns LinkedIn) reports quarterly earnings in ~1 week. For public companies, timing it around an earnings call can help control the narrative since the company will have a chance to explain to investors why the action wwill increase shareholder value.
When I read these stories, all I really hear is that these companies have lost all ability to innovate and invent. They've spent a fortune on these people, carefully choosing and then tuning them to be experts in the business and now they can't think of anything for them to do? They should be embarrassed.
That’s one way to look at it. Or, it could just be that, during the covid boom years they overhired to support growth that never materialized, and now they’re stuck with a bunch of overpaid freeloaders (sitting at the top of each salary band) who are neither experts in the business nor uniquely talented/useful/needed.
> now they’re stuck with a bunch of overpaid freeloaders
Interesting how even though in this scenario it's the company that did the wrong thing, it's somehow not possible to mention it without putting some blame on, and insulting, the employees that were hired.
You’re correct, it’s unfair of me to insult newer FAANGM employees without also insulting the lazy, overpaid, freeloading lifers who set the wrong hiring targets at said companies.
I use the term freeloader because the truth is…network effects exploit an inefficiency in human social dynamics that’s so powerful, it produces monopoly-level market capture and profits. So it’s a fair assumption to make that anyone hired at a network Monopoly money machine like LinkedIn will, inevitably, turn into a do-nothing freeloader (not necessarily through any fault of their own).
They're all bullshit factories. They grew like crazy and are still growing but depressing the tech job market is more important. Why have $1 million in profit per employee when you could have $1.05 million, lives be damned?
