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Jason Calacanis went on the Odd Lots podcast to say that the market is undergoing a shift from growth into cash flow and that this will result in pay cuts across the board in tech. Here is an excerpt: "**Calacanis**: stock-based compensation for these companies has been a large portion of their losses.... **Joe**:You think that's coming? Cash salaries are coming down? **Calacanis**: Hundred percent. I think the way it works is... they lay off a bunch of people. Then they reset the salaries and hire people back at lower salaries...That's the way for like a Facebook or an Apple to reset it without saying to the people who currently work for them, ‘Hey, by the way, we're cutting your salary 20%.’ Apple just says, ‘you have to come back to the office. Oh, you don't come back to the office. Okay. I guess you don't want to work here anymore. You were overpaid. Now we're going to put those salaries at a different number.....And so we got to this with, you know, Uber, and if they couldn't make it[money] in 2020, I think a lot of these companies got too big. Facebook, Google, Uber, Airbnb all could operate with 20%, 30%, 40% less people. And in a market where the public markets want to see cash flow, it's just time to shift gears and do that. What do you think?
I only take my advice from fortune cookies
My last fortune cookie had a damn Dude Wipes ad in it... No fortune.
J Cal is next level annoying
we could use some deflation ha
who?
Who is Jason Calacanis?
Famous hotdog eater
An imbecile who should absolutely not be listened to
Calacanis hasn’t been right for decades
Yeah, right. At Amazon, many people are still being paid the old pre-2020 salaries. New people always get paid more. At most these companies can hope that competition is meh, and not raise the salaries. BTW, WTF is that Jason guy? Are we supposed to know him?
Who? Daily FUD article in era of 3% unemployment lol
Source: “trust me bro”
Stop it with the fear mongering bullshit. Blind has become worse than FB.
The title might be a bit on the nose but do you think that if the market “does” shift (not certain it will) away from growth that companies TC will go significantly down
Will it come down some? May be. Come down significantly? Doubt it. Keep in mind that these companies are still very profitable. I’m talking about FAANG. It’s just that growth is slowing down. So, you see news about hiring pause or freeze. Which makes sense. But they’re not losing money by any means.
yep sir