3 ms·
Is it true that tech companies are doing poorly or is it something else, like the free money is nowhere around and tech companies are now expected to actually m
by mrtksn 4y ago
Is it true that tech companies are doing poorly or is it something else, like the free money is nowhere around and tech companies are now expected to actually make money like a traditional company?
The story seems about the same everywhere: When money was pouring and people were spending more time on their devices than usual, the projection was that people will just resign from the physical world and live in VR so hire as many people as possible but that projection looks silly now.
- strulovich 4y agoGoogle’s profitability came down as well. This affects the stock price, this in turn affects employees (not just hedge funds are invested in the stock, employees get a lot of their salary that way) This creates a pressure on Google to try and raise their profitability, and one way to do that is cut on areas where it seems wasteful. The letter mentioned above is just a trailing sign of this in my opinion.