71–80 of 164 posts
Mangers and executives have better tools now to track a tech workers output/performance, they will cut the useless/low performers/in over their head people who were hired during preceding years. A small tech team with proficient intelligent devs augmented with AI can replace 100's of duds.
And Meta has another round coming, soon the only thing left at the company will be data center staff. Apparently 20% to be laid off soon. https://www.reuters.com/business/world-at-work/meta-planning...
Surprised it took this long. I feel bad for the employees, but I can’t remember the last success they had. Metaverse, VR, throwing absurd money at AI and for what?
Cutting layers of bureaucracy not replacing with AI
Some of this smells purely nihilistic. The market rewarded layoffs with higher stock prices, incentivizing more layoffs.
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There are two ways to interpret your comment: 1. Google is getting so much productivity out of their AI that they need fewer people. 2. Google is spending so much on AI they can’t afford to keep the people they need.
Or 3. Google is spending so much on AI that they can't afford to keep paying people, but they are ok with this because they are convinced the AI investment will replace the people at an eventual cost savings.
And Meta has another round coming, soon the only thing left at the company will be data center staff. Apparently 20% to be laid off soon. https://www.reuters.com/business/world-at-work/meta-planning...
As for Meta, I give Mark credit for trying, even if he failed so far with all the VR stuff. The main disappointment is about Llama cause it's clearly an execution problem. With Meta's investments in AI throughout the years, not being able to compete with Anthropic and OpenAI is a big failure.
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And for how many more years are we going to be calling this a post-Covid market correction?
Many companies really got bloated during COVID. From what I can see online, Meta doubled their number of employees between 2019 and 2022. How long does it take to correct from that amount of hiring?
Some of this has nothing to do with COVID boom numbers. Some are bailing water as fast as they can (Atlassian, et al), some are treading water and betting on future returns from AI (Block), etc.
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Surprised it took this long. I feel bad for the employees, but I can’t remember the last success they had. Metaverse, VR, throwing absurd money at AI and for what?
Mark Zuckerberg is no longer the kingmaker that he was during Facebook's peak, and he is desperately trying to create the next platform to be the one in power once again. It would be sad if it wasn't so unbelievably destructive to everything it touches.
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Their last success was acquiring Instagram in 2012. Every new effort since then has been hemorrhaging money. They get away with it because they have two limitless money faucets in Facebook and Instagram, but their product strategy as a whole has been a disaster.
Meta ad spend increases 10% every year. Their products have had non stop continual successes for decades at this point. If fb and insta never changed and were solely relying on tailwind you could say they havent had any success, but this clearly is not true imo. Their family of apps have changed a lot, mostly for the worse imo, but it has led to massive increases in ad shows and spend per ad show.
And Meta has another round coming, soon the only thing left at the company will be data center staff. Apparently 20% to be laid off soon. https://www.reuters.com/business/world-at-work/meta-planning...
Surprised it took this long. I feel bad for the employees, but I can’t remember the last success they had. Metaverse, VR, throwing absurd money at AI and for what?