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>companies printing money i.e profitable not funded by cheap vc money are not affected by the current downturn.

Google, Amazon, and Meta have all laid people off and they basically own dollar printing presses.

I imagine that all those companies are big enough to have segmented departments that can be determined to be unprofitable by themselves. Amazon made plenty of profit, but they doesn't mean they should keep employing everyone from the Alexa department that only lost money.

100x this. Most companies with large layoffs had pie in the sky valuations due to pandemic money printing. They were never profitable. VCs with wads were searching for next 20x in three months

Of course they will be affected if their customers are unprofitable and are forced to cut costs or go out of business.