Further Yes and: Cutting costs, versus investing, means the PHBs have decided the ride is over. In other words, the combo of layoffs and corporate buybacks is

Further Yes and: Cutting costs, versus investing, means the PHBs have decided the ride is over. In other words, the combo of layoffs and corporate buybacks is about profit taking (while they can). Every business, market, etc, has a lifecycle. Social media, and Meta in particular, has definitely entered the Computer Associates phase of its lifecycle. So now it's time to cut to the bone, extract as much blood as possible. Such is life. It was a fun grift while it lasted. Hopefully, adjacent malignancies such as digital advertising and freemium will plateau as well. That'll be a relief. They can join informercials, shopping networks, and supplements in the backwaters of human culture.