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Most of these layoffs are mimetic: Meta is insanely profitable and does not need to lay anyone off, this is just an excuse to get rid of some people. So they tr
by squokko 4y ago
Most of these layoffs are mimetic: Meta is insanely profitable and does not need to lay anyone off, this is just an excuse to get rid of some people. So they try to copy everyone else in most of the details.
- beeboop 4y agoYou can't just view Meta profits in their income statement in isolation. Profitability from the owners' perspective is very largely impacted by the stock price, which has plummeted. From an owner's perspective it makes sense to shore up losses when you're "losing" money (even if unrealized) in other ways. That said I'm not defending Meta and wish they became employee owned or that capitalism in general would go away.