Hiring Friezes Happen at Big Tech

"We have been on this like, decades long bull run. Like, if you do any sort f investing, you've seen up and to the right, green, incredible performance," he says. "And because it's been such a long time of really good times, that all basically changed." The emphasis shifts from investment and innovation and growth to risk mitigation or cost savings in an economy where things can go wrong for no reason.