281–290 of 1001 posts
I wonder why the two biggest recent layoffs were by the two largest (US-based) social networks, is this the end of an era? And where is all that advertisement money going now? As a side note, it's crazy to think that Meta stocks are currently -75% from its peak last year.
> I’ve decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go _How_ does Meta have 85,000 employees? That's an _incredible_ size of an organisation.
My experience -- having been near the top of organizations with standard politics -- is that one of the goals of every executive is to maximize headcount. For example, if I am managing 100 people, I am far better off than if I am managing 10 people, doing the exact same thing. I will be able to step into better, higher-paying roles if I have experience managing large headcount. My salary will be higher, and I'll have…
> I got this wrong, and I take responsibility for that. As always with these things, I wonder what taking responsibility actually means in practice. Businesses usually try to find ways to correct for major failures in decision making. In the case of Zuck, given his ownership, does anything actually happen or change? I'm sure his net worth has been reduced by changes to Meta's share price, but he was a multi-billionai…
At sone point “I take responsibility” came to mean nothing more than “My bad”. It’s as if the act of saying it was your fault is all that’s necessary. Ive noticed it used this way more and more, presumably as people realize it’s utility as a get of jail free card
It's fucking job terminations. You're GOING to be criticized no matter how you do them. The best approach is to just be robotic about it, and maybe throw in a platitude that amounts to, "It's not you, it's me".
> At the start of Covid, the world rapidly moved online and the surge of e-commerce led to outsized revenue growth. Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended. I did too, so I made the decision to significantly increase our investments. Unfortunately, this did not play out the way I expected. This is very similar to the Stripe layoff memo at https://…
Not only the structure, the wording is also identical: "Today I’m sharing some of the most difficult changes we’ve made in Meta’s history." "Today we’re announcing the hardest change we have had to make at Stripe to date." "At the start of Covid, the world rapidly moved online and the surge of e-commerce led to outsized revenue growth." "At the outset of the pandemic in 2020, the world rotated overnight towards e-com…
> I’ve decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go _How_ does Meta have 85,000 employees? That's an _incredible_ size of an organisation.
They literally serve billions of people.
Why did they pivot towards VR and metaverse when Facebook's strength is being the "Localverse"?
Quite a difference between this message and the one Twitter (i.e. Elon Musk) sent to its employees.
As much as people hate Mark Zuckerberg and accuse him of being a robot, he showed much more humanity in his message in respect to Ironman Elon.
"I take responsibility"?
Which means...nothing? For the rest the layoffs are near identical. You hear that you're no longer needed, access is revoked, and severance in both cases is relatively generous.
I'm surprised they announced this on a prime news day, as oppose to Friday afternoon where less attention might have been given to it. (My heart goes out to all who lost their job. I'm wishing everyone well during these tough times.)
The news is consumed with the US midterms, it's actually a great time to make this announcement.
Facebook has become the local town square on the Internet. Thousands of active local groups is something that other social networks will have a hard time replicating. Marketplace is another feature that takes advantage of Facebook having a strong local presence, everywhere. Why did they pivot towards VR and metaverse when Facebook's strength is being the "Localverse"?