Instead of hiring the best, they put in these gen z narcissists who care more about social media clout than delivering the best product on the market.

https://www.dailywire.com/news/video...-cut-headcount

Huh the execs had the numbers ******** was gonna fail before the switch and have been offloading stock as fast as possible.

Meta was just to stretch the downfall with a promise of a new life and finding bag holders while they cash out.

Obv was never going to work, just a Hail Mary while otw out. You forget the only ******** was good at is collecting and analyzing data.

Google and Microsoft got destroyed today, as well.

Metaverse was such a hilariously stupid pivot.

You could fire 75% of the staffs at most of these companies and literally losing of value.

good riddens. maybe if these tech companies all close their doors then we can go back to living our life like normal people and have phones for nothing more than calling people sometimes

This is what will happen. As much as it sucks to see people losing jobs, these people provide literally nothing of value to anybody. And over the past handful of years, it's resulted is a lot of people in their 20s being overpaid to do nothing by these tech companies instead of actually learning skills and networking with people outside of tech. None of these 20 year old girls who exist just to look cute will be working in these jobs 12 months from now.

lol @ day planner looking like a retard wrote it

why does OP care about big tech succeeding with spyware apps

i hope carmack isn't holding too much stock

wood hate for him to get soaked srs

There is a lot of dead weight in a lot of companies right now, the years of low interest rates and then pandemic made it too easy

When eod posts about colleagues working frantically rather than staring blankly at screens and wandering around the office aimlessly for 40hrs per week, that’s the buy signal

The dotcom bubble that popped in the early 2000s was created by VC investors, it's the exact same thing happening right now.

I have worked in the financial sector for a long time, but I am seriously considering leaving it to go back to construction labor, am not a great fit for corporate America.

One very successful investment fund is called Crescat Capital, they make serious gains by shorting markets when things go wrong. This is their latest market report.

https://www.crescat.net/seeking-valu...ng-bull-traps/

The tech bubble is collapsing, interest rates have risen to the point of a total yield curve inversion, an inversion that hasn't been seen since the early 1980s. In other words, interests rates on short term treasury bonds are higher than interest rates on longer term treasury bonds. It's typically the other way around, as longer term bonds/loans are perceived to carry higher risk. This means that investor confidence in the US economy is very low, and these inversions have nearly always preceded recession. When the US has a recession, it's a global economic crisis.

Think about how these tech VC companies work. Some guy makes an app or a website hoping to get rich, pitches their idea/product at some meeting/incubator/conference in San Francisco. Rich ppl throw tons of money at it hoping it will be the next big thing or "unicorn", knowing most of these will fail. These companies go public on the stock market and it creates a huge economic bubble. The few that do succeed are completely overvalued and incredibly wasteful with their spending. It's a perfect formula for recession/layoffs. Right now, tech companies lead the stock market, so when they start failing, the entire stock market starts failing with it.

The result of the stock market failing was the nightmare we witnessed in 2020. The yield curve inversion leading up to that event was not nearly as intense. If we follow historical precedent, this next recession will be longer, more intense, and more impactful on the global political order. Chit is going to get pretty hairy and panic buying random stuff is not going to help anyone. Down here, all that COVID BS just passed over us for the most part. It's really hard to regulate and control a restless population with a small government and a culture that doesn't treat CNN or social media as their local pastor.

hiring hot chicks as product managers motivates developer teams

As someone who always loved technology growing up, I now loathe big tech.

Metaverse has potential, especially as WFH becomes standardized. It can also be used for high capital-intensive training programs (pilots can learn new plane models from home simulators avoiding the Boeing Max fiasco where pilots weren't adequately trained, tradies can apprentice from home, etc.). That being said, they do need to address their staff.