thebosstrevor1:
Like literally, most of the global layoff all over the world including Nigeria have been in the tech industry, from twitter, coinbase, amazon, jumai to Quidax.

Seems like tech businesses aren't recession proof.

First and foremost the businesses in tech are over valued because of speculation and ipo purposes, they employ a lot of people and then when recession comes, they are always the first to layoff lot of workers.

Till today, i still dont understand why tech companies will have 5k to 50k workers.

Back in the days, you only need 5 to 10 employees to run a very successful tech business. And most of these businesses were profitable.

thebosstrevor1:
Like literally, most of the global layoff all over the world including Nigeria have been in the tech industry, from twitter, coinbase, amazon, jumai to Quidax.

Seems like tech businesses aren't recession proof.

First and foremost the businesses in tech are over valued because of speculation and ipo purposes, they employ a lot of people and then when recession comes, they are always the first to layoff lot of workers.

Till today, i still dont understand why tech companies will have 5k to 50k workers.

Back in the days, you only need 5 to 10 employees to run a very successful tech business. And most of these businesses were profitable.

thebosstrevor1:
Like literally, most of the global layoff all over the world including Nigeria have been in the tech industry, from twitter, coinbase, amazon, jumai to Quidax.

Seems like tech businesses aren't recession proof.

First and foremost the businesses in tech are over valued because of speculation and ipo purposes, they employ a lot of people and then when recession comes, they are always the first to layoff lot of workers.

Till today, i still dont understand why tech companies will have 5k to 50k workers.

Back in the days, you only need 5 to 10 employees to run a very successful tech business. And most of these businesses were profitable.

damble:
What are the skills people should learn again ooo since tech is doing lay off

damble:
What are the skills people should learn again ooo since tech is doing lay off

thebosstrevor1:


in my opinion, I think the present VC model is flawed and also ruthless, the aim is to make money as fast as possible, don't they care if people will get sacked. They give large amounts of money to startups without a tested business model, they force you to mass recruit to grow fast, then make sure you raise again to mass recruit.

The VC model is like gambling, throwing a lot of money everywhere, hoping that one company will do an IPO to cover up the losses of other failed investments.. literally what that does is make the industry a place for mass layoffs and instability.

thebosstrevor1:
Like literally, most of the global layoff all over the world including Nigeria have been in the tech industry, from twitter, coinbase, amazon, jumai to Quidax.

Seems like tech businesses aren't recession proof.

First and foremost the businesses in tech are over valued because of speculation and ipo purposes, they employ a lot of people and then when recession comes, they are always the first to layoff lot of workers.

Till today, i still dont understand why tech companies will have 5k to 50k workers.

Back in the days, you only need 5 to 10 employees to run a very successful tech business. And most of these businesses were profitable.

thebosstrevor1:


My assumptions are not wrong.

The most profitable tech companies aren't run by thousands of employees.

The idea of thousands of employees working for a tech company started with Venture capitalism because of the idea of hyper growth for IPO...literally this type of operation often leads to mass layout when there is economic crisis.

tensazangetsu20:

This is true. I was reading up on a company called carvana. That business model made zero sense but they had like 3000 employees. They laid a lot of people off recently and they are still laying off.

Honestly, people should research companies before joining and ask hard questions. If the business model makes no sense, don't bother. If it's a remote role, don't quit your formal role. That's how someone I follow on Twitter left google to join Coinbase despite being on H1B and Coinbase just laid off and he has 60 days to find a new job or go back to his country but google has never laid off anyone. It's not always about money.

tensazangetsu20:

This is true. I was reading up on a company called carvana. That business model made zero sense but they had like 3000 employees. They laid a lot of people off recently and they are still laying off.

Honestly, people should research companies before joining and ask hard questions. If the business model makes no sense, don't bother. If it's a remote role, don't quit your formal role. That's how someone I follow on Twitter left google to join Coinbase despite being on H1B and Coinbase just laid off and he has 60 days to find a new job or go back to his country but google has never laid off anyone. It's not always about money.

Robertgreene1:
Interesting...
I remember what John Mcafee(the father of anti-virus systems) said about crypto.
Dude was scamming people with crypto...starting up and hyping different crypto coins while falsely predicting that the value of Bitcoin will soon hit a million dollars
When the value of Bitcoin started going south..
They interviewed the dude and he was like..."Haa never mind all those my false predictions about the value of Bitcoin hitting a mili..I did all that to scam people...I already knew the crypto bubble would burst sooner than later cus the whole concept was based on "Ancient technology"... LoL... whatever the dude meant by "Ancient technology"...

tensazangetsu20:


Craiglist is an example. I dont think they have up to 20 people but thats a wrong comparison to a company like Google or Microsoft wheres then literally thousands of products with more being built each day.

thebosstrevor1:


go check crunchbase, there are many profitable tech companies run by 10-20 people.

I just wanna say something, OpenAI is run by 20 people and they have raised 1 billion, soon Open Ai will have 5k employees to fast-track growth and do an IPO

thebosstrevor1:


My assumptions are not wrong.

The most profitable tech companies aren't run by thousands of employees.

The idea of thousands of employees working for a tech company started with Venture capitalism because of the idea of hyper growth for IPO...literally this type of operation often leads to mass layout when there is economic crisis.

zed7:
Every profession has its peak, when you get to the peak, it starts to decline. The tried and trusted profession will still be medical. There's no substitute for it.

zed7:
Every profession has its peak, when you get to the peak, it starts to decline. The tried and trusted profession will still be medical. There's no substitute for it.

saajus:
AI can take most tech jobs. I advise everybody in tech to learn programming, Machine learning, and statistics/data science so that, they can automate their processes by themselves. In fact, Governments in advanced nations intentionally slow down AI pace because it would render many people jobless.

The health industry is still a bit AI-proof cos no one has been able to replace that human touch in caring. The human touch alone is healing and therapeutic.

thebosstrevor1:
Like literally, most of the global layoff all over the world including Nigeria have been in the tech industry, from twitter, coinbase, amazon, jumai to Quidax.

Seems like tech businesses aren't recession proof.

First and foremost the businesses in tech are over valued because of speculation and ipo purposes, they employ a lot of people and then when recession comes, they are always the first to layoff lot of workers.

Till today, i still dont understand why tech companies will have 5k to 50k workers.

[b]Back in the days, you only need 5 to 10 [/b]employees to run a very successful tech business. And most of these businesses were profitable.

Advancedman:


Anything built on capitalism lie are all scam and destined to collapse.

tensazangetsu20:


Craiglist is an example. I dont think they have up to 20 people but thats a wrong comparison to a company like Google or Microsoft wheres then literally thousands of products with more being built each day.

MemoriesAndMe:
@OP, Your opinion may be wrong. That a company is labeled a tech firm doesn't mean everyone working there is a tech person - there are several business units in every major firm.

A company can lay off as many people in different units within it without even touching the tech unit. Why? Skilled tech folks are difficult to find and new hires need to go through trainings that could take a long time.

tensazangetsu20:

This is true. I was reading up on a company called carvana. That business model made zero sense but they had like 3000 employees. They laid a lot of people off recently and they are still laying off.

Honestly, people should research companies before joining and ask hard questions. If the business model makes no sense, don't bother. If it's a remote role, don't quit your formal role. That's how someone I follow on Twitter left google to join Coinbase despite being on H1B and Coinbase just laid off and he has 60 days to find a new job or go back to his country but google has never laid off anyone. It's not always about money.