Not sure what the downvotes are for but sure.

They do set the market cost but that doesn’t change her take. There are more things at play here than she is accounting for. There’s politics and financial markets. There’s the pandemic that lowered interest rates and for the last 10 yrs tech has had an unprecedented amount of money to play with.

Once the fed got to QT’ing, now the balance sheets have to be tighter. Also take into account that these companies have shareholders and it’s earnings season. When the economy is in a downturn AND your financials look a bit tight, companies will dump employees for a quick “we’re being fiscally responsible”. Eventually that will hurt them.

All in all, my point is she is acting as if there hasn’t been free and loose money in tech. Same as banking in the 90s-00s. Tech over leveraged and the Piper came to collect.