Capitalism.
Industry figures indicate employment in IT is still above pre-covid levels. Companies over-hired and are normalising. We’re not seeing this labour activity in most other sectors. There’s no reason to panic.
That’s one way to look at it, if you’re looking to downplay the human impact. The way I look at is these companies had a short sighted hiring spree and now thousands of people are without income and can’t just get a new job as the industry is laying off everywhere. That seems like a reasonable source of panic for the people with no income and not a lot of prospects.
Workers are numbers
I had a shower thought this morning:
At a certain point in capitalism, a wealthy person can get enough money to live comfortably the rest of your life. If you decide to continue to grow your wealth from there, you’re essentially not just making money for yourself, but so others can’t have it.
I have a feeling that number is well below a billion, but I’m no economist.
It’s to keep score.
It’s super gross.
Also power.
It’s not that we’re not making profit, it’s that we’re not making ENOUGH profit.
