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Why Big Tech's Jobs Bubble Burst. Plus, SBF's Scandal Deepens.
Plain English with Derek Thompson
The Third Explanation for the Pandemic
Tech companies like Alphabet and Amazon faced all sorts of challenges during the pandemic. When interest rates were low, investors were willing to plow their money into tech firms that had great stories about the future. But when interest rates started rising, stocks started falling. And that adjustment in the markets forced these companies,. Netflix, Uber, Tesla to lay off a lot of people. It's become a joke in tech that over the long run, every company becomes an advertising company.
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