Not to mention that the entire US economy is now at the whims of ChatGPT - where the current admiration got its tariff policy from.
https://www.theverge.com/news/642620/trump-tariffs-formula-a...
I think almost all of big tech have more employees now than they did 3 years ago. There's just not as much growth or anticipation of growth, nor as much turnover.
When VC money is flush in the system, people are leaving their FAANG jobs for crazy scale up money. Now that it's happening less, big tech will have less turnover, etc.
https://www.teamblind.com/post/The-golden-age-of-high-TC-tec...
The trends aren’t good and that’s before MS just announced a 6% reduction in headcount and doesn’t take into account enterprise devs where most people work.
There are also more people entering the field.
Oh, so maybe there IS hope! I'd trust ChatGPT way more than anyone in the current administration.
I feel like this deserves a little more detail than just the year it was started. During Trump's first administration his Tax Cuts and Jobs Act (TCJA) amended Section 174 of the Internal Revenue Code (IRC), but it started this change in 2022.
Here's good article outlining some of the significant tax implications: https://blog.pragmaticengineer.com/section-174/
>Here is how the S174 change impacted some companies, based on what I found in their annual reports:
>Microsoft: $4.8B additional tax paid in 2023. The company generated a $72B profit that year, so this tax increase was manageable. It’s still a very large amount!
>Netflix: around $368M in additional tax paid – also manageable with $4.4B annual profit.
>Google: the tax change was minimal, because Google was voluntarily amortizing software development expenses for most staff, already. This was for all projects that reached “technological feasibility,” which is a milestone products pass before public release.
Trump's new tax bill is fixing what was broken in his last tax bill (Or maybe the punishment is being removed from tech companies that were perceived as against him in the first administration that have now bent the knee).
(1116 pages)
Can't this be broken into smaller, manageable bills?
All politics is about compromise, and getting enough votes to pass. Since most of congress is against most bills, the only way to get anything passed is to lump it all together, and give everyone enough so they can hold their noses and vote for it.
In the current climate it's pretty certain no democrats are voting for it, and the majorities in both houses are razor thin. So pretty much every republican needs to be accommodated with some or other pet project or whatever.
On top of that, if you actually try to read a bill, you'll see many references to previous legislation, like, "US Code 123.45 section A is hereby amended to read 'blah blah blah....'" So you have to go read a bunch of other legislation to know what each line item is really about.
On top of that, once it passes and is sent out to the various bureaucracies it applies to, they will put their own interpretation on it, sometimes giving it an expansive interpretation and in other cases dragging their feet, so the actual result can be very different from what you took away from poring over thousands of pages.
You could almost come to the conclusion that the whole legislative thing is just for show, and the real power has been diffused elsewhere.