This is a bubble imploding, this is serious.

The value of money has shifted for good after a decade of excess, there is rampant inflation and there is a recession incoming.

These companies have seen the writing on the wall and are making the first of many layoffs to address this. This started last year and will last another year at least, possibly a few years.

Apparently most eases of this sore are still in denial about it but the reasons are real and presssing.

The other thing this paradigm shift in rates impacts of course is profitless startups which are now worth zero if they can’t turn a profit within a year. Those that can’t will go bust and lay off all employees, thus making the recession deeper.