Not short sighted if _that_ is the goal. Maybe it's just to cut off people they have overhired during the pandemic. Maybe they just need fresh faces without costly layoffs

I have a hard time believing this a 5th year correction of a past hiring bubble.

Are they though?

Do you see any legitimate opposition to the big tech companies forming from recently laid off employees?

If there's no alternative for people to work for then if the job market improves people are just going to go back to the same companies.

So, are these people who feel spurned by the big tech companies getting together and starting competitors to bring them down?

Lol you can't outcompete microsoft or google.