4 ms·
Putting on your conspiracy hat... there seems to be a very coordinated effort to claim that "big tech" is over and done for. Just look at all the articles regur
by alfalfasprout 4y ago
Putting on your conspiracy hat... there seems to be a very coordinated effort to claim that "big tech" is over and done for. Just look at all the articles regurgitating some form of that. That the end of "free money" killed tech.
If anything, these results show quite the opposite. Google and the like have been quite resilient. Sure, obviously unprofitable companies are done for. We all knew that was coming. But all signs are pointing to a 1-2 year period of realignment rather than anything truly seismic.
Even facebook was able to refocus some of its bets on the metaverse fairly quickly.
All that seems to have changed is that investors are no longer OK with 50+% YOY hiring growth and gigantic bets on obviously moonshot projects taking up a good chunk of the portfolio.
- bfrog 4y agoI think partly this is driven by the fed, but maybe more so some eager investors looking to put their weight on the scales in their favor… go figure. Don’t know how that’s conspiracy theory stuff. I agree, it’s surprising how resilient the advertising business is for these two companies.