Block letting go of 40% of their workforce is a warning to us all.  You don't have to work in tech to see where this goes:

- each employee at block earns an average (from various aggregators) of 125k-300k.  They just cut about 600M of income.
- they have mortgages, investments, BTC, etc.
- they can no longer afford their lifestyles.
- if they don't bounce back quickly, and Lord knows it ain't easy, they will have to divest some of those investments.
- that income equaled 120M in tax revenue that will be at the corporate rate now.
- they won't be shopping or spending.

Now... Picture this happening to hundreds of more companies and you will see the cascading affects from dropping local tax revenues, shops not selling, houses coming on market, investments being sold, and the spiral down will spread.  It will spread beyond those companies and their employees to everyone globally like a GFC pt2.  Clankers don't need anything but energy.  The wealth divide will widen and the calls for UBI will grow.  The split path of the elites and the subsidized will be surrounded by shiny toys.

Me?  I'm stacking and going to convert my whole backyard into a vegetable garden (with patent free heirloom seeds).  My kids?  They're going into essential services.  My job? Only a matter of time but, fuck it, I'm old.