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Lions, Tigers, Bears. But No Recession, No Rate Cuts
In November, we've seen mass layoffs, declining profit expectations and credit events. Lions, tigers
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It seems that a lot of Venture Capital money was going into Crypto the past few years- and some very large VC firms are getting hurt. However, their (mostly) mega wealthy investors can painlessly take the hit. Hopefully, pension funds did not put too much money into this.
VC is critical to funding new business ideas and this may temporarily slow down, but, in time – greed will return.
The firing of software engineers from the crypto world will be happily absorbed by Walmart and other similar companies. (I recently read that Walmart has job postings for over 1,700 software engineers.) Less exciting and probably less pay.
or more pay at Walmart, if they were earning crypto (or crypto derivatives, or worse) as part of their compensation