• Tech layoffs are happening in a horrible way, with no communication, locked badges, and broken email access.
• There are multiple reasons for the layoffs, including tech bloat, ad sales, higher interest rates, AI, and planned obsolescence.
• The layoffs are sending a message to the market that the end of profligacy is here.
• The economy is a force within itself, and it’s questionable if the Fed rate hikes have even worked their way through yet.
• We need to evolve from focusing on bits to refocusing on atoms.
• We need to exercise empathy and compassion to understand the pain of others and help them.
• Big Tech layoffs can feel removed from reality, but we must strive to have perspective and care for those affected.
• Empathy and compassion are key to understanding and helping those in need.
• Mary Oliver and Barbara Alice Mann offer advice on how to teach children to appreciate the world and be devoted to it.
• U.S. fiscal stimulus has caused excess inflation, and Lael Brainard is a top contender for the National Economic Council.
Published January 26, 2023
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