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Meta lays off 11,000 people

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Re: Meta lays off 11,000 people

#981

Post by skee8383 »

mertd wrote: post #898
skee8383 wrote: post #779

Meanwhile all you hear on the mainstream news is "Labor shortage" "No one wants to work" "Companies are having trouble finding talent". This smells like 2008 all over again. Housing market is tanking, MSM is lying about employment numbers. Companies are lying about how many people they are actually hiring. I went through all this back in 08. you'd put in applications and never hear anything back, then the next day yo…

Labor participation is still below pre-pandemic levels. Most labor numbers are dominated by blue collar or service jobs. They are not fungible with tech labor.

The numbers are made up. They always cite "polls" as a source. Strangely enough i've never been polled...

Re: Meta lays off 11,000 people

#982

Post by ummonk »

daniel_iversen wrote: post #947
SCAQTony wrote: post #937

Perhaps a strong, independent board of directors could have mitigated this fiasco. The meta-verse never looked like a good idea especially after previous failures like "Second Life." YMMV https://www.theatlantic.com/technology/archive/2021/10/faceb...

You can't really predict the future like that.. there were lots of mp3 players, tablets, smart phones, smart watches etc. before the ones that "hit it off" and made a lot of money. I'd think the theory is Meta has the money to invest for the long term as the market is building and become a leader.

Walkmans were big hits 50 years ago. Blackberry phones 20 years ago. I wouldn't exactly say music players and smart phones had a track record of failures.

Re: Meta lays off 11,000 people

#983

Post by rendaw »

miiiiiike wrote: post #710
andyjohnson0 wrote: post #246

> 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…

> As always with these things, I wonder what taking responsibility actually means in practice. Remember a few years ago when people were asking "Why can't people just say they made a mistake and own up to it instead of shifting blame?" Now that people are taking responsibility for mistakes publicly the response is "Yes, but what does that mean?" Taking responsibility means just that. It means saying you fucked up and…

Admitting mistakes and taking responsibility are two different things. People were calling for the first, not the second.

What they're complaining about is that Zuckerberg can't take responsibility here, it's too late (being responsible would have been gambling less), but he is claiming he will which is more obvious marketing speak (sounds good, doesn't make any sense).

Re: Meta lays off 11,000 people

#984

Post by martindbp »

JohnAaronNelson wrote: post #863
bergenty wrote: post #852

Earlier quoted context omitted.

Quoted post unavailable.

Facebook (and social media in general) has made the world a more divided place full of sadder and angrier people. He runs a company that optimizes for that scenario while accruing unimaginable sums of capital, and he doubled down with Meta. Hmm I wonder why some people are not fans.

It's not social media, it's the internet. Whether on Facebook or reddit or Twitter, you can find a group of people who reinforce whatever bad ideas you have. This creates echo chambers wherever you go. If you think the world is flat or run by the illuminati you can find 10000 people to reinforce that belief. But it's also great to be able to find communities for whatever niche hobby you might have , and it's spreading real knowledge faster than ever in history.

Re: Meta lays off 11,000 people

#986

Post by phone8675309 »

asdfman123 wrote: post #749
princevegeta89 wrote: post #717

Earlier quoted context omitted.

Meta may sound like an unethical company frequently from a product standpoint, but Zuckerberg is a very good guy in general and he treats employees very well.

People are multifaceted. I'm sure he is good to his employees, like people are describing, but that ain't it. He's repeatedly betrayed user trust, and eventually what goes around comes around.

    Zuck: Yeah so if you ever need info about anyone at Harvard

    Zuck: Just ask.

    Zuck: I have over 4,000 emails, pictures, addresses, SNS

    [Redacted Friend's Name]: What? How'd you manage that one?

    Zuck: People just submitted it.

    Zuck: I don't know why.

    Zuck: They "trust me"

    Zuck: Dumb fucks.

Re: Meta lays off 11,000 people

#987

Post by faangiq »

andyjohnson0 wrote: post #246

> 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…

Like the soul of America, it’s nothing but empty corporate speak.

Re: Meta lays off 11,000 people

#988

Post by brailsafe »

keewee7 wrote: post #287

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"?

I think Reddit is probably the local town square, but it depends on your bubble.

Marketplace is there, Messenger, but I haven't used FB for anything else in years.

Re: Meta lays off 11,000 people

#989

Post by pedrosorio »

ar_lan wrote: post #850
automatic6131 wrote: post #327

Earlier quoted context omitted.

>Will this over flood the market and bring expectations and salaries down? Well I predict two things: One, the days of $200-500k TC being common and widespread are going to end. If you're in this bracket, or about to break into it, yeah be worried, it's probably going to evaporate. Two, the CV value of Meta, Snap, Stripe, etc. is also going to end. I don't think they will command the same premium in the jobs market f…

I just can't really believe this at all, unless these companies entirely crumble. It's just not feasible for the majority of folks to live comfortably in the Bay Area with a family at less than $200k TC. I make ~$300k/yr and could probably swing $200k/yr if I didn't save anything (I save ~$100k/yr currently). I just can't imagine it being reasonable with housing + other costs. 1. Housing costs are elevated here more…

If you earn $300k before tax and save $100k, clearly you could do just fine while earning less than $200k.

Re: Meta lays off 11,000 people

#990

Post by carstenhag »

paxys wrote: post #900
alasdair_ wrote: post #670

I worked at Facebook when covid first hit. Zuckerburg treated everyone in the company very, very well. There was a blanket "don't worry about performance, take care of your families" guarantee that honestly was an enormous help. The thing that particularly struck me though was the way he handled contract workers like (some of) the kitchen staff, cleaners, etc. These people don't work for Facebook and he had zero obli…

I agree with your overall point, that Facebook employees have been very well taken care of, but: > There was a blanket "don't worry about performance, take care of your families" guarantee that honestly was an enormous help. Yet now he is firing people based on those same performance reviews. Plenty of people I know at Facebook feel betrayed because of exactly this.

The beginning of covid is 2.5 years ago. I don't see how you can today say that he lied.
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