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Medium lays off 50 employees, shuts down New York and D.C. offices
- blacktulip 10y agodiscussions on official announcement: https://news.ycombinator.com/item?id=13321322 https://news.ycombinator.com/item?id=13321322
- the_duke 10y agoYeah, this was just discussed yesterday and that thread is still open...
- spo81rty 10y agoAny ideas what they needed $132 million in funding for? Seems like a ton of money for what they do.
- runeks 10y agoI wouldn't shrug off Medium's need for capital; employing 50 people for years that you suddenly realize you didn't really need isn't cheap!
- oliv__ 10y agoGeez $132 million...Wasn't it supposed to be a "medium" company? Edit: Not sure why I am being downvoted, this is not even a play on words. I'm pretty sure their "inception" blogpost actually stated that they would remain a medium company etc...
- RyanZAG 10y agoSuccessful people manage many other people, and successful CEOs have many successful people under them. Successful companies also spend large amounts of money on lavish office space, employee morale boosting functions, and other perks. So the more money you can spend, the more successful your company must be. Cargo cult?
- aibottle 10y agoNo. They refocus.