Why the Postpandemic Tech Bust Sent Billionaires to Trump
In the spring of 2020, as a new and highly contagious virus spread throughout the country, the US came to a standstill. The economy shut down, cities emptied, and white-collar workers were sent home en masse. Platforms like Zoom, Slack, and Microsoft Teams surged in usage as WFH became ubiquitous. From remote schooling and virtual weddings to app-based grocery delivery and livestreamed concerts, the pandemic accelerated and cemented society’s increasing reliance on digital platforms. Already one of the most powerful forces in the American economy, the tech sector suddenly became the infrastructure underpinning every aspect of life.
Tech giants went on an unprecedented hiring spree, scrambling to meet new demand and cement their dominance. Where tech workers already had tremendous labor market power in the preceding decade, the postpandemic boom for technology tilted the balance even more sharply in favor of workers. Demand for technical skills exploded, and...
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