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Meta announces hiring freeze, warns employees of restructuring

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Re: Meta announces hiring freeze, warns employees of restructuring

#351

Post by eloff »

dirtyid wrote: post #296
eloff wrote: post #281

Earlier quoted context omitted.

China doesn't have another generation. They'll be going into a very stark population collapse that's worse than what Japan is experiencing now, where adult diapers outsell baby diapers. I expect that China's economy and influence will take the shape of an upside-down U, with the peak in the next decade. If they're going to move on Taiwan, they cannot wait forever. They came close to catching up the US, but I don't th…

China has multiple generations. Even "stark" demographic collapse at PRC scale is generating millions of new births per year (several times greater than US even with immigration), there will never be shortage of bodies to fill the military, especially increasingly small force structure of modern militaries that's shifting towards autonomous platforms. As for economy, expect PRC to continue growing, more importantly,…

Japan's economy has been stagnant for the last thirty years[1]. China can look forward to worse by all indications so far. Upskilling their labor force won't fix that. It didn't save Japan.

[1] https://www.macrotrends.net/countries/JPN/japan/gdp-growth-r...

Re: Meta announces hiring freeze, warns employees of restructuring

#352

Post by mbrochh »

kernel-dump wrote: post #287
moolcool wrote: post #56

My heart goes out to anybody losing their job, but it's always fantastic to see bad things happening to Meta.

I wonder what the effects of Meta failing would have on society? I can’t think of competing social network for people to migrate to. Would topic forums see a rise in popularity again or would sites like Reddit draw in some of those users.

Nothing. I'm pretty sure Meta could disappear from the face of the earth tomorrow and after a week of boredom, people would realise that life is actually much much better without it. (I've been off all Meta services since 3 years).

Re: Meta announces hiring freeze, warns employees of restructuring

#353

Post by dragontamer »

scottLobster wrote: post #342
dragontamer wrote: post #330

Earlier quoted context omitted.

On the contrary. We're not complacent. The Fed is raising rates, like it should be. Its a known fact that the Fed Rate takes months, maybe years, before its effects propagate through the economy. The 2.25% raise in just a few months is the steepest increase in decades, one of the most proactive moves ever done. -------- But we as a society need to also be proactive and understand what this means. It means higher mort…

I'm referring to the complacency of the last 10 years, when every time the fed even muttered about raising rates they caved to Wall St panics and politics. Those super low rates are primarily responsible for everything from the insane wealth inequality we've developed over the last 10 years to housing becoming largely unaffordable to people losing their shirts gambling on bitcoin. What kept inflation at 2% was a perf…

> What kept inflation at 2% was a perfect historical moment in global growth/globalization that will not come again in our lifetimes.

If that "perfectly balanced 2% inflation" was pushed away with say, the central bank raising interest rates, what do you think would have happened?

We would have had deflation. Which is incredibly dangerous. Its not even a question, all of that inflationary pressure (low rates, QE1, QE2, QE3, etc. etc.) the central bank pushed from 2010 through 2019 was just barely able to sustain 2% inflation... the target.

-----

We probably could have afforded to rock the boat a bit more than we did those 10 years though.

Re: Meta announces hiring freeze, warns employees of restructuring

#354

Post by BeFlatXIII »

kernel-dump wrote: post #287
moolcool wrote: post #56

My heart goes out to anybody losing their job, but it's always fantastic to see bad things happening to Meta.

I wonder what the effects of Meta failing would have on society? I can’t think of competing social network for people to migrate to. Would topic forums see a rise in popularity again or would sites like Reddit draw in some of those users.

Perhaps it boots the normies offline

Re: Meta announces hiring freeze, warns employees of restructuring

#355

Post by fomine3 »

ergocoder wrote: post #341
selectodude wrote: post #310

Earlier quoted context omitted.

Lots of people get car sick but nobody would say that the car isn't ready yet.

I'd bet those people only use cars when needed. Nobody will go cruising on a puke machine. And we never need Oculus for anything. That's a big difference.

*for you.

Re: Meta announces hiring freeze, warns employees of restructuring

#356

Post by filoleg »

dessant wrote: post #338
stale2002 wrote: post #301

Earlier quoted context omitted.

Ah, so it was a bad faith question all along! You only asked him his reason, so you could attack him for it. Just go and say what you really meant, instead of pretending like you had anything to contribute in the first place. That way, at least the reasonable people can see what you wrote, and hopefully get you deplatformed.

Quoted post unavailable.

> it's surprising that a person would share this publicly at this point in the company's history.

This is the part that tells me that maybe you are a bit out of touch with the general public.

Go to any college campus or talk to any student in a good CS program in the US. Meta is going to be on the list of some of the most sought after companies to get an internship or a fresh grad offer at. People post glowing humblebrag posts on Facebook/Twitter/Instagram/TikTok/LinkedIn/etc. when they get a job offer from Meta, for their friends and followers to see. I see it on my own feeds not that rarely, and often from people I went to college with a while ago.

I cannot really feel the same level of excitement about a job like that to share it with others in a similar way. But you finding it "surprising that a person would share [that they got a job at Meta] publicly at this point in the company's history", as if it was something they would be ashamed about and attempt hiding, is somewhat telling.

Re: Meta announces hiring freeze, warns employees of restructuring

#357

Post by theGnuMe »

TacticalCoder wrote: post #113
boringg wrote: post #90

Earlier quoted context omitted.

iOS privacy has killed facebook advertisements. Meta is dealing with it currently - so are all small businesses who relied on good conversion from their ad targeting that has gone to isht since then. Apple will probably fill in that void at some point they've got a lock on all that intelligence. I'm curious how long it will take and how they will manage to do it without stepping on privacy toes.

> iOS privacy has killed facebook advertisements A problem I see with FB is that they don't control anything on which they run. They run on stuff from their competitors: it's either Google (Chrome / Android), Microsot (Windows / Edge) or Apple (OS X / Safari / iOS). Despite the downturn these three behemoths are still enjoying a market cap in the trillion+. Meta is actually down to $360 bn. Meta controls neither the…

Meta buys firefox.. metafox!

Re: Meta announces hiring freeze, warns employees of restructuring

#358

Post by deepGem »

yuan43 wrote: post #161

> “I had hoped the economy would have more clearly stabilized by now, but from what we're seeing it doesn't yet seem like it has, so we want to plan somewhat conservatively,” Zuckerberg said. A Meta spokesperson declined to comment. The economy is stabilizing. It's being weaned off of ultra-loose money for the first time in years. The stock market is starting to behave more rationally, demanding that a company whose…

Going by the current inflation and unemployment trends, the economy won't stabilize for a year at the very least. We have a very difficult situation. Inflation is high, unemployment is low. In 2008, we had low inflation and high unemployment, but not this time. So, with the tightening of interest rates, unemployment has to go high. With unemployment increasing, prices of goods will fall due to decrease in demand. At that time, hopefully inflation will go on a downward trend.

The expected inflation in US is around 2-3% and until we see inflation heading towards those numbers it's hard to say economy is stabilizing.

For comparison, the expected inflation in India is around 8-10% and that's why you don't see the pinch in the Indian economy right now even with the tightening of rates.

I am no predictor of the future, but more likely the US interest rates will hit the range of 10% before we start seeing any easing in inflation. Once we see unemployment numbers going up consistently for a couple of quarters that will be the sign of economic stabilization I think.

Re: Meta announces hiring freeze, warns employees of restructuring

#360

Post by dadoge »

brilee wrote: post #323
beambot wrote: post #216

Earlier quoted context omitted.

A little dated [2018], but still rings true: The average tenure for engineers at many major tech companies is ~3 years. Thus, you'd expect new hires at a rate of 30% annually just to maintain staffing levels. To determine headcount growth you, should look at year-over-year changes in total employee count, not just the number of new hires. TLDR: Meta's new-hire rate is not atypical. https://www.businessinsider.com/ave…

3 years is deceptive - in an exponentially growing company, the majority of employees are fresh, pushing the average tenure low. The relevant number is "length of tenure at time of severance", which I believe skews much higher. Any company seeing 30% churn is having a bad, bad time.

“Length of tenure at time of severance”

That is such a better metric, why is this not used more often

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