A conspiracy theory about tech layoffs

I have a crazy theory about tech layoffs.

Last weekend I was reflecting about life, current tech status and future. I put on my tin foil hat and a crazy idea came to my head.

Everybody who has invested, even a tiny bit, in the stock market, BTC, etc. knows about whales. Whales have big quantities of a certain asset in a certain market. They have so much quantity that they can literally drive the market up and down when they move, they are a force.

So, I came to a conclusion, what if, in the same way whales force the market so they can buy cheap and sell high, tech companies act in unison to drive the software job market? They introduce scarcity and pressure so people accept less than before because people get scared of being unemployed.

Software is expensive but software engineering salaries are as high as well. Within any organization this is a huge cost. I still remember, from my civil aerospace experience, that software costs were already exceeding the hardware costs. Crazy, right? But true.

What do you think about this theory? Do you think I'm crazy? Or do you think I should follow the white rabbit with my tin foil hat? 🐇