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This isn't about rising costs though, this is about the labels and shareholders being greedy and wanting an even bigger piece of the cake that is already massiv

This isn't about rising costs though, this is about the labels and shareholders being greedy and wanting an even bigger piece of the cake that is already massive. Meanwhile artists are getting paid next to nothing and now even workers are getting the short end of the stick.

deburo 3y ago
Are you not aware how dire inflation and the very high interest rate make the current situation?
- WUMBOWUMBO 3y ago
  Hasn't inflation gone down to ~3%?
  - COGlory 3y ago
    Has it? Nothing in my life except gasoline has gotten any cheaper. Edit: I misread the comment. I am aware of the difference between rates and absolutes.
    - ahtihn 3y ago
      Why would it get cheaper with a low inflation rate? Low inflation rate means stuff get more expensive slower. It's still getting more expensive.
    - deleted 3y ago
      [deleted]
    - dagw 3y ago
      That isn't what the inflation number means. An inflation rate of 0% means prices stop going up and stay at their current level, not that prices go down. Prices going down would be deflation, and that almost certainly won't happen.
    - deleted 3y ago
      [deleted]
    - namtab00 3y ago
      that's not what "less inflation" means
    - u320 3y ago
      The other mistake you made was assuming that your personal experience is valid for the economy as a whole.
      - COGlory 3y ago
        No, I made it quite clear it was a question.
  - _heimdall 3y ago
    Sweden's current inflation rate is 4.2% https://www.riksbank.se/en-gb/monetary-policy/the-inflation-target/current-inflation-rate https://www.riksbank.se/en-gb/monetary-policy/the-inflation-...
deelowe 3y ago
I see this response a lot on these threads. Why is it so hard to accept that two digit inflation over the past couple of years and interest rates well above 5% could be a major factor?
- myspy 3y ago
  Well how about thinking stakeholders first and shareholders second? Firing your employees because you are incompetent leadership and management without good foresight should result in letting you go. Why the high compensation for leadership when it doesn‘t know what it does? Braun didn‘t get the design leader in the past because they threw out their team, they got there because they kept the team together. The more you learn the better for the company. This goes for all tech related job cutting in the last months.
  - deelowe 3y ago
    Nonsense. You didn't address my point... Tech is disproportionately affected by rate changes (both inflation and loans/bonds), as it's the highest growth sector. High growth businesses are investing heavily in infrastructure and as such are also highly leveraged.
    - myspy 3y ago
      Well vice versa great answer. Who planed and executed a strategy like this and why isn‘t it done in a way to not get as much employees which would lead into them getting laid off? Why getting cheap money without taking into account that the situation is different in 5 years? I couldn’t care less that growth businesses run into this situation. Then don‘t grow it so fast! People are getting fired across so many businesses. It appears unlikely they will get another job soon. The situation leads to health problems and has ramifications for people. Fucking management can do whatever they want. They still get highly compensated.
      - deelowe 3y ago
        What? I addressed your comment. I'll make it simpler: you are spouting nonsense. Spotify didn't "plan and execute" anything. The current situation was brought on by 2 decades of quantitative easing and then multiple black swan events and even more cash injection until it all came crumbling down. The amount of blame you place on the board of a single company to combat what is essentially a global crisis brought on by actions taken by world governments is extremely naive. Spotify isn't alone in this. Nearly every big tech company has had layoffs and I don't think we're anywhere close to being done yet. I hear rumors more are coming for mamaa.
walkingworms 3y ago
[dead]
lotsofpulp 3y ago
> This isn't about rising costs though, this is about the labels and shareholders being greedy and wanting an even bigger piece of the cake that is already massive. Source? Because losing money every year does not seem sustainable. https://www.macrotrends.net/stocks/charts/SPOT/spotify-technology/net-income https://www.macrotrends.net/stocks/charts/SPOT/spotify-techn...
danielmarkbruce 3y ago
Have you looked at the financials? The company runs net losses, every year. Losses are not a "massive cake", they are a "massive hole".
- saaaaaam 3y ago
  The labels are definitely getting a massive slice of the cake - and recently pushed for more.

deburo 3y ago

Are you not aware how dire inflation and the very high interest rate make the current situation?

WUMBOWUMBO 3y ago
Hasn't inflation gone down to ~3%?
- COGlory 3y ago
  Has it? Nothing in my life except gasoline has gotten any cheaper. Edit: I misread the comment. I am aware of the difference between rates and absolutes.
  - ahtihn 3y ago
    Why would it get cheaper with a low inflation rate? Low inflation rate means stuff get more expensive slower. It's still getting more expensive.
  - deleted 3y ago
    [deleted]
  - dagw 3y ago
    That isn't what the inflation number means. An inflation rate of 0% means prices stop going up and stay at their current level, not that prices go down. Prices going down would be deflation, and that almost certainly won't happen.
  - deleted 3y ago
    [deleted]
  - namtab00 3y ago
    that's not what "less inflation" means
  - u320 3y ago
    The other mistake you made was assuming that your personal experience is valid for the economy as a whole.
    - COGlory 3y ago
      No, I made it quite clear it was a question.
- _heimdall 3y ago
  Sweden's current inflation rate is 4.2% https://www.riksbank.se/en-gb/monetary-policy/the-inflation-target/current-inflation-rate https://www.riksbank.se/en-gb/monetary-policy/the-inflation-...

deelowe 3y ago

I see this response a lot on these threads. Why is it so hard to accept that two digit inflation over the past couple of years and interest rates well above 5% could be a major factor?

myspy 3y ago
Well how about thinking stakeholders first and shareholders second? Firing your employees because you are incompetent leadership and management without good foresight should result in letting you go. Why the high compensation for leadership when it doesn‘t know what it does? Braun didn‘t get the design leader in the past because they threw out their team, they got there because they kept the team together. The more you learn the better for the company. This goes for all tech related job cutting in the last months.
- deelowe 3y ago
  Nonsense. You didn't address my point... Tech is disproportionately affected by rate changes (both inflation and loans/bonds), as it's the highest growth sector. High growth businesses are investing heavily in infrastructure and as such are also highly leveraged.
  - myspy 3y ago
    Well vice versa great answer. Who planed and executed a strategy like this and why isn‘t it done in a way to not get as much employees which would lead into them getting laid off? Why getting cheap money without taking into account that the situation is different in 5 years? I couldn’t care less that growth businesses run into this situation. Then don‘t grow it so fast! People are getting fired across so many businesses. It appears unlikely they will get another job soon. The situation leads to health problems and has ramifications for people. Fucking management can do whatever they want. They still get highly compensated.
    - deelowe 3y ago
      What? I addressed your comment. I'll make it simpler: you are spouting nonsense. Spotify didn't "plan and execute" anything. The current situation was brought on by 2 decades of quantitative easing and then multiple black swan events and even more cash injection until it all came crumbling down. The amount of blame you place on the board of a single company to combat what is essentially a global crisis brought on by actions taken by world governments is extremely naive. Spotify isn't alone in this. Nearly every big tech company has had layoffs and I don't think we're anywhere close to being done yet. I hear rumors more are coming for mamaa.

walkingworms 3y ago

[dead]

lotsofpulp 3y ago

> This isn't about rising costs though, this is about the labels and shareholders being greedy and wanting an even bigger piece of the cake that is already massive. Source? Because losing money every year does not seem sustainable. https://www.macrotrends.net/stocks/charts/SPOT/spotify-technology/net-income https://www.macrotrends.net/stocks/charts/SPOT/spotify-techn...

danielmarkbruce 3y ago

Have you looked at the financials? The company runs net losses, every year. Losses are not a "massive cake", they are a "massive hole".

saaaaaam 3y ago
The labels are definitely getting a massive slice of the cake - and recently pushed for more.