341–350 of 1001 posts
As a non-tech guy who follows the tech scene: 87000 people to run Facebook sounds a little ridiculous. These tech companies sounds like colleges these days where the number of administrators has grown 10X and the amount of teachers has stayed the same. Use your money to hire people that directly contribute to your product. Use profits to "do good" after.
Many many moons ago when i pointed out that FAANG are modern day fords and chryslers everyone thought i was exaggerating. Actually if you think about it they are in an even more precarious position as no one really _needs_ them and their popularity are a thing of fashion, and are far from too big to fail. Edit: Linkedin shows 300k jobs available in the us for the term "software engineer". I like to think and hope tha…
Facebook? Sure, people can live without that. But Microsoft, Google, i'd argue even Amazon are integral parts of the economy. Trying building a modern business without the business software Microsoft maintains. Try doing work without Google. Amazon is a part of our modern shopping habits.
Do they need to be as big as they were? Probably some room to go down, but they're an essential part of the economy now.
I'm old and this is the third time around for these sorts of layoffs in tech. (Was around for dot-com bust of 2000-ish and financial meltdown post-2008.) One thing you want to keep in mind is that decent severance packages are usually only a thing for the FIRST round of layoffs. There will be more, and the payouts will be a LOT worse. Just, FYI.
I'm close to deciding to go back to University to get some additional education that's likely to improve my work in the future. I can afford it without any salary. Based on your experience, do you think this is the right moment to do so? I'm employed at the moment.
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.
Sorry for all the people who’ve lost their jobs, but I’m excited to see the awesome world-changing stuff they’ll make now that they’re not spending their time building FB/Instagram.
Do you think that great, world-changing, folks go to Facebook to sit on a big salary? if they were going to do something awesome they probably wouldn't have been working there. now, if google lay off a lot of people... that would be different
> if they were going to do something awesome they probably wouldn't have been working there.
For the past 10+ years, in this forum, the advice is to stop trying to build something, go work at Faang
> 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…
So, after Twitter and Meta layoffs there will be around 15,000 people looking for the job. In one moment. With other layoffs it can be counted over 20,000 people IMHO. Will this over flood the market and bring expectations and salaries down?
I'm old and this is the third time around for these sorts of layoffs in tech. (Was around for dot-com bust of 2000-ish and financial meltdown post-2008.) One thing you want to keep in mind is that decent severance packages are usually only a thing for the FIRST round of layoffs. There will be more, and the payouts will be a LOT worse. Just, FYI.
This is going to be a repeat of 2000, not 2008. There's seemingly no contagion and no secular stagnation. This is just unwinding of the cheap money era that flowed overwhelmingly into SV. You'll see a cooling off of red hot compensation, a lot of failed startups that no one ever understood and the ongoing crypto crash. This may end up being enough to trigger a mild recession.