The End of the Tech Boom
What Next | Daily News and Analysis
Slate Podcasts
4.3 • 2.4K Ratings
🗓️ 20 November 2022
⏱️ 33 minutes
🧾️ Download transcript
Summary
After decades as America’s booming industry, tens of thousands of tech workers have been laid off in November alone. Is the venture-capital, low-interest-rate wind leaving the sails temporary or is this the end of the hunt for “the next big thing?”
Guest: Timothy B. Lee, reporter for Full Stack Economics covering labor markets, technology, and housing.
Host: Lizzie O’Leary
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Transcript
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| 1:08.1 | On the morning that Julia got laid off, she walked out of the gym and checked her email. |
| 1:13.2 | The actual day I went to my gym, I come out of the gym, it's like 830 in the morning, |
| 1:18.5 | I've just come out of Pilates class, I just checked my phone as I do and it's like |
| 1:22.0 | straight HR, your rule at Stripe. That's not a note anyone wants to get and it was a shock. |
| 1:31.5 | There were no rumor mill, there was no, there was nothing. Like I'm telling you I've been in |
| 1:37.9 | companies, you know, there usually is some sort of water quote like this was stealth, absolute stealth. |
| 1:45.5 | Julia, by the way, is not her real name, but that's what we're calling her today. She knows |
| 1:50.8 | her way around tech, she's worked at a bunch of the big name companies, including Amazon and |
| 1:55.0 | Microsoft. And she joined Stripe, the online payment processor, a little over a year ago to work on |
| 2:01.2 | company partnerships just before a big expansion. It was the highest valued privately held company. |
| 2:10.6 | I think it was at that time it was like 95 billion, you know, as a rocket ship. |
... |
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