My theory is that they have been "inbreeding" too much by only hiring friends and family. This creates a cesspool instead of a talent pool. Try getting into one of these companies without an in... It's not easy.

[–] archomrade@midwest.social 17 points 1 year ago

I think it's a little more straightforward: we're at the tail end of a tech bubble. All these companies have been riding a COVID-19 wave and are reaching the end of it. They've been laying off staff as well as burning their customer good-will for extra revenue.