>You’re ignoring the part where FAANG massively overhired in the years preceding.

Yes, because overhiring is a lie generated to justify layoffs. I'd hope by year 3 that we'd see through this. If they "overhired", why is hiring still up globally while down in the US?

>You’re also forgetting about this little thing popularly called AI that happened in the intervening years.

What about it? Hiring numbers are still up. Its clearly not replacing workers as of now.