Purges begin at Intel
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After the poor third quarter data seen by the major tech companies and in view of a gloomy future, Intel is going to lay off about twenty thousand employees.
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It was only a matter of time and this crisis, like all the previous ones, is caused by a concentration of resources in the wrong places that have made the economy very inefficient. It is not normal for a country like the US, which has had full employment for a year, to be in a technical recession. How is it possible that a country of hardworking people like this, where everyone who can work is working, doesn't have the decency to grow the GDP? It has been in a technical recession since the summer and in a socio-economic recession starting next year, if not sooner.
It seems that one of the Intel groups that will feel the impact is in marketing. And the reality is that they have done a terrible job. It is not normal that the A770 is being presented today and no one is noticing. We are talking about a milestone in the industry that consists of the sudden appearance of a third actor in a sector that has had a bipolarity for more than a decade. And no one is talking about it? What are these people doing? It is lamentable.
Then you hear things like that there are Google engineers who earn between 400,000 and 700,000 dollars a year who do nothing. They do nothing because they don't want to and their supervisors know it but the thick-skinned ones don't care because they know they won't be fired. The bureaucracy to fire them is so messed up that their bosses would rather have them in a corner without bothering anyone than to do the paperwork. And Google doesn't care about this whole situation because they are swimming in cash and prefer not to draw too much attention in case the federal government puts them in their place for some ethically questionable business tactics.
It is evident that such a brutally inefficient system cannot go very far and I am sure that the bleeding will end up leading to massive layoffs in other tech companies. According to some, very tough times are coming, a continuation of the disaster of 2008 for not having done our homework. A decade with interest rates at 0% has maintained an incredibly inefficient zombie economy. And it seems that the American tech sector will get the worst of it this time.
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@palotes said in Purges begin at Intel:
It was only a matter of time, and this crisis, like all previous ones, is due to a concentration of resources in the wrong places that has made the economy very inefficient. It is not normal for a country like the US, which has had full employment for a year, to be in a technical recession. How is it possible that a country of hardworking people like this, where everyone who can work is working, doesn't have the decency to grow the GDP? It has been in a technical recession since the summer and in a socio-economic recession starting next year, if not sooner.
It seems that one of the groups at Intel that will feel the impact is in marketing. And the reality is that they have done a terrible job. It is not normal that the A770 is being presented today and no one is noticing. We are talking about a milestone in the industry that consists of the sudden appearance of a third actor in a sector that has had a bipolarity for more than a decade. And no one is talking about it? What are these people doing? It is lamentable.
Then you hear things like that there are Google engineers who earn between 400,000 and 700,000 dollars a year who do nothing. They do nothing because they don't want to and their superiors know it, but the shameless ones don't care because they know they won't be fired. The bureaucracy to fire them is so messed up that their bosses prefer to have them in a corner without bothering anyone rather than doing the paperwork. And Google doesn't care about this whole situation because they are swimming in cash and prefer not to draw too much attention in case the federal government puts them in their place for some ethically questionable business tactics.
It is evident that such a brutally inefficient system cannot go very far and I am sure that the bleeding will end up leading to massive layoffs at other tech companies. According to some, very tough times are coming, a continuation of the disaster of 2008 for not having done our homework. A decade with interest rates at 0% has maintained an incredibly inefficient zombie economy. And it seems that the US tech sector will get the worst of it this time.
In the late 90s (Yes, I'm already a few years old), Intel released a graphic that passed without much fanfare, so Intel is not new to graphics, it has financial muscle, but maybe it doesn't put all its eggs in one basket or allocate many resources to try to take a big piece of the pie. Right now it is releasing graphics late and at a non-competitive price. What can motivate someone to buy an Intel graphic? Well, you release a product late and expensive... not a good future at least with this generation. We'll see later about the drivers, but something tells me they will age worse than the competition's graphics.
Regarding the rest, more than 20% of the dollars that were in circulation in 2020 were "printed" that year. There is an episode of the Uncle Gilito cartoons that the nephews, if I remember correctly, found a machine that made money... the consequence was what we expect. High inflation, high interest rates to bring it down, recession and pain. This is the future that awaits us in the short and medium term. But central banks have known this for a long time. Nothing is casual. The middle class is becoming less and less middle class. Nothing is casual, everything is studied.
