Tech Industry job layoffs looking scary
- Thread starter dtownreppin214
- Start date
IIVI
Superstar
This. I'd go as far to say A.I is far from the main thing.
This is the main thing right here:
When interest rates are low companies have a lot more money to spend so they can swing for the fences and try to strike gold. Hire a ton of engineers and see if they can innovate something.
When interest rates go high, it's time to play it safe and only keep the important and highly promising projects and payoffs for businesses.
They were hiring engineers with 3 months of coding experience with no degree and paying them $100k/year. That's what happens when times get good.
I have a feeling when a lot of real estate leases are up and more and more companies go remote you'll see a lot more hiring being done.
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IIVI
Superstar
Additionally we're in a Bear Market right now.
Big dogs are winning (like NVIDIA) but a lot of well-known mid-level companies are down like 80% from their all-time highs. A lot of companies are now below their pre-COVID points.
Like look at Paypal, Affirm, etc. stock price history.
Affirm was $160 now it's $30.
Paypal was $300 now it's $60.
Like you see all these other businesses getting hit hard? This ain't a good market overall unless you're a top dog or are a critical company to a top dog.
If those big dogs crash shyt will be an outright disaster.
Big dogs are winning (like NVIDIA) but a lot of well-known mid-level companies are down like 80% from their all-time highs. A lot of companies are now below their pre-COVID points.
Like look at Paypal, Affirm, etc. stock price history.
Affirm was $160 now it's $30.
Paypal was $300 now it's $60.
Like you see all these other businesses getting hit hard? This ain't a good market overall unless you're a top dog or are a critical company to a top dog.
If those big dogs crash shyt will be an outright disaster.
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NYC Rebel
...on the otherside of the pond
one thing I can honestly say I get out of this AI craze is the awareness of the methods used by these so-called geniuses. They’re really having to feed an insane amount of data to their system for it to be of use. Hiring cheap labor to do a lot of manual work. Take heed. The clues are there.
IIVI
Superstar
shyt about to get spooky for Financial Tech?
IIVI
Superstar
Dang, that's right on top of this news. Apparently an enormous data breach went down yesterday conducted by Russian Hackers.
$DAVE stock was already doing bad.
$DAVE stock was already doing bad.
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xXMASHERXx
Superstar
I expect to see a lot of companies, big companies, get hit with cyber attacks this year. I'm hoping our essential services don't fall victim to these attacks but I'm not optimistic.
Data breaches or hacks happen quite frequently because too many companies are using open source.
Open source by definition implies everyone knows how the code works and has access to it. So of course they know how to bypass security measures through loopholes.
Can anyone in this thread refute this theory?
IIVI
Superstar
That is a big part of it.
It's one reason why Linus Torvalds was so much of an a$$hole when it came to building Linux and either did it by himself or wanted a select few to work on it. Dude didn't want people to screw it up with weaknesses because they didn't know what they were doing. It's not completely safe, but has a lot fewer vulnerabilities to exploit.
There are countermeasures to this stuff (open source does additionally mean more people can take a look at the issues), but the attacker always has the advantage.
Yeah and imo the Cybersecurity industry will probably see a Golden Age because of it.
If I were in that field and all these attacks start ringing off, I'd start testing the market.
If there's a tangible thing in most of software, a solid consistent, it's security. It doesn't have a shiny ceiling, but it's the main true floor raiser.
You can have the coolest app and tech in the world, but if your security is shyt, then it won't matter.
Dave's banking with this breach has basically given up their biggest asset - their trust. Now their stock is nosediving because of it.
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Nah, companies just refuse to take cybersecurity seriously until it's too late. It's a combination of ignorance, laziness and stupidity all wrapped into one.
It's like Boeing management thinking they could cut corners and not have planes fall out of the sky. That's what's happening in every company when it comes to cybersecurity.
IIVI
Superstar
Yup, you cut corners on security and your shiny new app and business can potentially be made into a piece of shyt that's good for nothing but consuming elecricity.
Attackers attack and are really good at it. You want the best to counter: Cyber Security experts who know their shyt, teams who will constantly monitor and know the latest exploits.
Another reason to stop treating your software teams like shyt who build the app because chances are they see a lot of exploits on the way to making it what it is.
Don't know why C-Suites building software products or products with software components don't know these basic decencies.
