531–540 of 1001 posts
Considering the severance, Meta might have just realeased the biggest pre-seed funded class ever.
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.
"We’ve shifted more of our resources onto a smaller number of high priority growth areas [like] our long-term vision for the metaverse" Imagine laying off eleven thousand people so you can keep clinging to the disintegrating corpse of the metaverse.
I have this (maybe wrong) opinion that Meta can't be the one to bring an actual VR/Metaverse project because they are too "on the radar" of medias. Adoption of new technologies is always done by more fringe members and then picked up by critical mass. You can't successfully build a metaverse without accepting the kind of weird deviant stuff that goes on in VRChat and Meta can't accept the weird deviant stuff because…
The world runs on certain types of software. I doesn't run on social media, or video streaming, or "AI/ML", or search. So it doesn't actually run on FAANG companies. It is no surprise they are shedding workers when the free money runs out. But if you are willing to work on "boring software" that provides actual economic value - logistics, HR/Payroll, or really anything people actually pay to use because it boosts the…
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.
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?
https://layoffs.fyi/
HR is annoying in most of cases. Their job should be (and could be) automated via bots. My thought is, the reason is most of them lack of logical thinking skills, that's why they're HR in first place ?
> 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…
"Today, effective immediately, I, Gavin Belson, founder and CEO of Hooli, am forced to officially say goodbye to the entire Nucleus division. All Nucleus personnel will be given proper notice and terminated. But make no mistake. Though they're the ones leaving, it is I who must remain and bear the heavy burden of their failure."
Hilarious, yet the way corporate PR is heading it could be real and none would be the wiser.
The world runs on certain types of software. I doesn't run on social media, or video streaming, or "AI/ML", or search. So it doesn't actually run on FAANG companies. It is no surprise they are shedding workers when the free money runs out. But if you are willing to work on "boring software" that provides actual economic value - logistics, HR/Payroll, or really anything people actually pay to use because it boosts the…
Facebook (and Google Search) are the most widely used software on Earth, ~3-4B MAUs each. I don't know what else something needs to do to qualify for "world runs on [it]".