OPINION: Aussie start-ups have been misguided in aping Silicon Valley by over-hiring and overpaying staff with VC money, only to fire people at will when sentiment changes.
Do we want to build more Metigy’s or more Atlassians and Canvas?
These guys are treating the labour market as recklessly as they are treating their own businesses – with too many fueling these binges with hyped-up valuations and aspirations built on hot air. Corrosive competition is churn and burn. It churns through people and burns up any sense of security, culture and shared values we may have.
So, here’s the bigger point. It won’t just be the IT industry that gets damaged if exploitative and short-term thinking becomes the norm, it will be all of us.
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