Plain English with Derek Thompson

Why Big Tech's Jobs Bubble Burst. Plus, SBF's Scandal Deepens.

Jan 24, 2023

William Cohan, an award-winning journalist from Puck, dives into the paradox of tech layoffs amid low unemployment rates. He discusses how overhiring during the pandemic led to the loss of over 130,000 jobs in major companies. Cohan also unpacks the FTX scandal, shedding light on the mismanagement of funds and the ethical dilemmas investors now face. He explores Sam Bankman-Fried's financial maneuvers and the complex legal battles ahead, raising provocative questions about accountability in finance.

49:41

Episode guests

William Cohan

Highlights

AI Chapters

Episode notes

The Pros and Cons of Layoffs in the Tech Industry

01:24

Intro

2min

The Paradox of Layoffs and Low Unemployment in Tech

5min

Tech Industry Dynamics: Interest Rates and Layoffs

5min

The FTX Fallout: Scandal and Mismanagement

26min

Exploring Financial Strategies and Legal Challenges in the Bankman-Fried Case

3min

Unraveling the Legal Turmoil and Family Implications

4min

Derek breaks down the biggest economic mystery of the moment: Why are the most successful tech companies collectively laying off more than 130,000 people if the overall unemployment rate is still historically low? Then award-winning Puck journalist William Cohan rejoins the podcast to talk about the biggest unanswered questions swirling around disgraced billionaire Sam Bankman-Fried, his FTX bankruptcy proceedings, and his forthcoming criminal case.

Host: Derek Thompson

Guest: William Cohan

Producer: Devon Manze

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