ZIRP
https://www.businessinsider.com/zirp-end-of-cushy-big-tech-job-perks-mass-layoffs-2024-2
Big Tech workers come to grips with 'ZIRP,' as job anxiety grips a once cushy industry

A history of tech companies throwing money around has started to look like an anomaly of the past. Moonshot projects are a relic of the ZIRP era. So are free catered food, day care, and laundry service at work. Hopping from one mid-six-figure salary job in Big Tech to the next? ZIRP.

 

ZIRP
https://www.businessinsider.com/zirp-end-of-cushy-big-tech-job-perks-mass-layoffs-2024-2
Big Tech workers come to grips with 'ZIRP,' as job anxiety grips a once cushy industry

A history of tech companies throwing money around has started to look like an anomaly of the past. Moonshot projects are a relic of the ZIRP era. So are free catered food, day care, and laundry service at work. Hopping from one mid-six-figure salary job in Big Tech to the next? ZIRP.

A company can certainly offer lots of perks, but it has to be figured as a part of total cost of employee compensation and if it is too far out of line, then the company isn't going to stay competitive in the long run.

I worked for a small company (that is still around, though they got bought a few years ago) that had some really nice perks. The company paid 100% of family health, dental, and vision insurance, contributed the max amount to each employee's HSA, and usually contributed the max to each employees SEP each year (25% of gross pay). The company also paid 100% tuition reimbursement for any courses that were reasonably applicable to work, even if only somewhat speculatively. This is because the president believed in maximizing pre-tax benefits. But, in exchange, the hourly rate was notably on the low end and the paid-time-off was very miserly -- it started out at 10 days a year and was everything (VHS - vacation, holiday, and sick), and it never went above 20 days. The company also kept the fridge stocked with whatever soda or other drinks people wanted, and had a couple of outings each year, but the value of these perks were pretty negligible (except a one-time two-week trip to the Virgin Islands for all employees and families, including lodging, airfare, sailboat rental, meals at the villa, and several excursions). But if you made an apples-to-apples comparison of total compensation package between us and our competitors, we were in the middle, which made it a very sustainable package that most of use very much loved (which is not to say that we didn't lose prospective employees that didn't like it, particularly the nominal hourly rate). What we also had was that everyone (including the president) was paid hourly and if you worked 100 hours in a week to get a project out the door, you got paid for all 100 hours. There was also an expectation that you would average somewhere around 200 hours a month, which was considerably less than the 50 to 60 hours a week common among salaried peers other places. ,But this was really just the number that your expected annual pay was based on, and not too much was said as long as you averaged at least 30 hr/wk over a given quarter to justify your benefits. Work schedules were very flexible -- I often came in about 3 pm and worked until midnight or 3 am. I also did a lot of teaching at the local university during the day and was very active in volunteer organizations that took time away from work. I also went ten years without claiming a single hour of VHS time, even though I took lots of days off (I just didn't get paid for them). The big thing was that your projects needed to all be making adequate progress.

 

https://www.polygon.com/gaming/24074767/video-game-industry-layoffs-explainer
What’s going on with all these video game industry layoffs?

“It’s hard to believe now, but the cultural conversation at the time was really driven by this belief that these gains would hold, and that we were experiencing a fundamental and inalterable shift in cultural behavior,” Nooney said. “The media attention that was poured onto this spike in hours streamed or money made really did contribute to a kind of collective delusion that all of this was going to continue forever.”

Delusional is absolutely right.

 

Delusional is absolutely right.

OMG, that was great, absolutely great.


Ron

 

OMG, that was great, absolutely great.


Ron

“Engagement rates and revenue might be above where they were in the last quarter of 2019, but that really just means they’re back to incremental growth,”

I don't know anything about games or the gamer business because I don't play them, it all seems extremely boring to me.

What's crazy is, we are seeing the same thing in semiconductor markets. We see companies being shocked that sales are decreasing to pre-chip shortage levels once the double and triple booked sales are finally pushed out the door a year later.
Things are now close to normal production and sales levels but bean counters are acting like the previous abnormal peaks were the 'new' normal. I'm glad to be transitioning out from that roller-coaster.

 

https://www.polygon.com/gaming/24074767/video-game-industry-layoffs-explainer
What’s going on with all these video game industry layoffs?


Delusional is absolutely right.

It's a phenomenon that we see over and over and over about so many things. Every time gas prices go up sharply, there are countless stories that project how the national average will be $10/gal by such and such date, most never even bothering to qualify with even a "if this rate of increase continues". Interesting how, when gas prices fall just as fast, they never tell us when gas is going to be free.

A huge part of it is just human nature and sensationalistic journalism to sell stories and boost ratings. But there are plenty of folks that actually believe this hyped crap every time it comes out and no shortage of people that use it to prey upon folks that believe it.

 

A huge part of it is just human nature and sensationalistic journalism to sell stories and boost ratings. But there are plenty of folks that actually believe this hyped crap every time it comes out and no shortage of people that use it to prey upon folks that believe it.

Kinda like AGW.

 

Kinda like AGW.

Not here, Please.

 

Kinda like AGW.

MOD NOTE: Please, stop trying to steer threads toward politically-charged topics.

 

I don't know anything about games or the gamer business because I don't play them, it all seems extremely boring to me.

About the same here. Something I have noticed is my 9 year old grandson has lost much of the interest he had in games and his interest has improved in STEM. I was thrilled to see that change. Looking at the big picture I see many kids in his age group not frequenting "Game Stop" as often as they once did. Grandson's parents also restricted his gaming.

Ron

 

About the same here. Something I have noticed is my 9 year old grandson has lost much of the interest he had in games and his interest has improved in STEM. I was thrilled to see that change. Looking at the big picture I see many kids in his age group not frequenting "Game Stop" as often as they once did. Grandson's parents also restricted his gaming.

Ron

Good news.

The boomers just watched TV, drank more, and slept.

 

https://fortune.com/2024/02/14/bank-of-america-amazon-hiring-promises-graduate-roles/
Bank of America and Lockheed Martin say you don’t need a degree to land a job there—but that’s not what their hiring data suggests
But the new report from BGI implies it’s even more difficult for the more than 60% of individuals who don’t have a degree. Although unburdened by student debt—on average $54,921 per private student, according to the Education Data Initiative—young talent without degrees entering the workforce are fighting a tide which seems to be increasingly against their favor.

 

https://abcnews.go.com/US/yale-rein...uirement-expands-list-test/story?id=107446872

Yale University has announced a new "test-flexible" standardized testing policy set to go into effect for the 2024-25 admissions cycle, following fellow Ivy League school Dartmouth College in adjusting its COVID-era policies.

The university will require standardized test scores for all applicants but is expanding the list of tests that fulfill the requirement to include Advanced Placement (AP) and International Baccalaureate (IB) exams as well as the ACT and SAT tests.

Didn't they say these these tests were hurting students? Now they say it's helping students.

He added, "A test can, however, highlight an applicant's areas of academic strength, reinforce high school grades, fill in gaps in a transcript stemming from extenuating circumstances, and—most importantly—identify students whose performance stands out in their school context."

 

https://abcnews.go.com/US/yale-rein...uirement-expands-list-test/story?id=107446872


Didn't they say these these tests were hurting students? Now they say it's helping students.

They're desperately trying to find ways to implement DEI without the legal risk of actually implementing DEI.

 

DEI has its place, at the singles bar at 2AM.

 

DEI has its place, at the singles bar at 2AM.
View attachment 315889

My daughter has been told the following, regarding her essays for college applications:

"Don't write about your accomplishments. Write about [perceived] adversity you've overcome and how it has affected you."

This is complete rubbish, designed -- IMHO -- to give certain applicants an edge over Asians.

 

My daughter has been told the following, regarding her essays for college applications:

"Don't write about your accomplishments. Write about [perceived] adversity you've overcome and how it has affected you."

This is complete rubbish, designed -- IMHO -- to give certain applicants an edge over Asians.

What happens if you're Asian (or at least part) and have actual adversity you've overcome?

I've told my kids to not fall into that trap, let your deeds and efforts speak for themselves.

 

What happens if you're Asian (or at least part) and have actual adversity you've overcome?

That's where intersectionality comes in. The most aggrieved victim wins.

 

That's where intersectionality comes in. The most aggrieved victim wins.

but my discrimination was worse.

 

...but my discrimination was worse.

Then you and your kids should make your case.

Who needs merit?