Techies at Meta and Google do “fake work”, alleges tech veteran
“There’s nothing for these people to do — they’re really — it’s all fake work,” he said. “Now that’s being exposed, what do these people actually do, they go to https://safetysignandlabel.com.au/ (naked url) meetings.”
He also said that Google intentionally overhired the techies to stop them from moving to other companies. He describes this strategy as “pretty coherent.”
Marc Andreessen, the general partner at Andreessen Horowitz, who has criticized a managerial “laptop class” as well as overstaffed firms, shares Rabois’ viewpoint.
A key to preserving and generating free cash flow is to reduce headcount, according to Rabois, and shift the industry away from a growth-at-all-costs model toward a profitability-oriented model.
In an effort to manage costs and weather the economic storm, tech companies have cut back their workforces because of rising interest rates and inflation.
A layoff tracking site reported that more than 1,000 companies laid off more than 160,000 people in 2022, and that figure has already exceeded 100,000 for 2023.
After a decade of expansion that propelled some of the top firms to market capitalizations above $1 trillion — and retained personnel from smaller businesses and industries — the job, losses signal the first significant decline for the IT sector.
On the other hand, Rabois praised Twitter CEO Elon Musk, who has fired roughly half of the social-media company’s workforce after taking charge in October.
“People are watching Elon and Twitter and he’s clearly setting an example — maybe it’s an extreme example,” Rabois said, adding later that he wouldn’t bet against the Tesla mogul.