F
Fred Bloggs
Guest
More wasteful fraud from the tech industry. And it harmed everyone, the tech workers who thought they had a career, the investors, and ultimately the consumers of their over-priced products.
Thousands of tech staffers at Meta and Google do \"fake work\" and were brought on to fulfill the \"vanity metric\" of hiring, according to the outspoken investor and tech veteran Keith Rabois.
\"All these people were extraneous, this has been true for a long time, the vanity metric of hiring employees was this false god in some ways,\" he said..
\"There\'s nothing for these people to do â they\'re really â it\'s all fake work,\" he said. \"Now that\'s being exposed, what do these people actually do, they go to meetings.\"
Google, he continued, had intentionally over-hired engineers and tech talent to stop them from moving to other companies, a strategy he described as \"pretty coherent.\"
The comments come as soaring interest rates and inflation in recent months have led tech companies across the industry to take an ax to their workforces in a bid to manage costs and weather the economic storm. In 2022, more than 1,000 companies laid off more than 160,000 staff, according to the layoffs tracking site Layoffs.fyi. â that figure has already surpassed 100,000 for 2023 so far, according to the site.
https://www.businessinsider.com/google-meta-staff-do-fake-work-says-vc-keith-rabois-2023-3
Thousands of tech staffers at Meta and Google do \"fake work\" and were brought on to fulfill the \"vanity metric\" of hiring, according to the outspoken investor and tech veteran Keith Rabois.
\"All these people were extraneous, this has been true for a long time, the vanity metric of hiring employees was this false god in some ways,\" he said..
\"There\'s nothing for these people to do â they\'re really â it\'s all fake work,\" he said. \"Now that\'s being exposed, what do these people actually do, they go to meetings.\"
Google, he continued, had intentionally over-hired engineers and tech talent to stop them from moving to other companies, a strategy he described as \"pretty coherent.\"
The comments come as soaring interest rates and inflation in recent months have led tech companies across the industry to take an ax to their workforces in a bid to manage costs and weather the economic storm. In 2022, more than 1,000 companies laid off more than 160,000 staff, according to the layoffs tracking site Layoffs.fyi. â that figure has already surpassed 100,000 for 2023 so far, according to the site.
https://www.businessinsider.com/google-meta-staff-do-fake-work-says-vc-keith-rabois-2023-3