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After ChatGPT disruption, Stack Overflow lays off 28 percent of staff
(arstechnica.com)
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this post was submitted on 17 Oct 2023
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Tech has been in aggressive growth mode since 2008 because the Fed was handing out free money (interest rate lower than inflation). That allowed investors to dump money into tech businesses in hope of rapid business expansion, which in turn makes the business more valuable.
The free money dried up. Now these tech businesses are going to find out if they're sustainable.