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As the startup boom deflates, a reckoning is coming for Silicon Valley

February 25, 2020

By Erin Griffith, New York Times : sfgate – excerpt

SAN FRANCISCO — Over the past decade, technology startups grew so quickly that they couldn’t hire people fast enough.

Now the layoffs have started coming in droves. Last month, robot pizza startup Zume and car-sharing company Getaround slashed more than 500 jobs. Then DNA testing company 23andMe, logistics startup Flexport, Firefox maker Mozilla and question-and-answer website Quora did their own cuts.

“It feels like a reckoning is here,” said Josh Wolfe, a venture capitalist at Lux Capital in New York…

Too much too fast. Many people were displaced and businesses shuttered in the tech rush for gold. Now we get to see what is left of our non-tech world that we can rely on to sustain us.

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