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Engineers affected. The coasting day care is over and Google is in code red wartime mode in a state of panic. Sorry. The market is brutal and it does not care

by rvz 3y ago

Engineers affected. The coasting day care is over and Google is in code red wartime mode in a state of panic. Sorry. The market is brutal and it does not care. No one is safe, not even Google.

abnercoimbre 3y ago
You think mass layoffs will start slowing down, or was last year a trend that's barely getting started? I just wish I could find well-educated guesses (because I know it's hard to predict definitively) but news sites are typically shallow / sensational.
- brnt 3y ago
  Is money cheap again? No. There is no guessing, just some hysteresis.
- bossyTeacher 3y ago
  I think this will likely last at the very least until the end of 2025 if not more. Companies seem to be delaying laying off all the people they need to layoff. To become strong, we must first experience weakness
ulfw 3y ago
What market? Google stock is up 56% YoY. Fifty six percent. What do you think it should be? 2000%? It's a huge mature company. 56% in a year is unheard of.
- em1sar 3y ago
  [dead]
- rvz 3y ago
  > Google stock is up 56% YoY. Fifty six percent. That's it? Screaming about 56% in one year is hardly anything to be celebrating about. Compared with the likes of Meta with >200% in 1 year with just buying and holding alone tells us that was a much better return than Google which is already getting disrupted as it flails about. > What do you think it should be? 2000%? If you're talking making 2000% in one year, go and do some 0DTE options gambling on some other stocks. > It's a huge mature company. 56% in a year is unheard of. That means absolutely nothing. We gave Google enough time to respond to its rising competition and all it could do was fabricate a demo in front of the world. No wonder the layoffs happened.
- gniv 3y ago
  > It's a huge mature company. 56% in a year is unheard of. MSFT is up 60% yoy. To say nothing about NVDA. Anyway, the market rebounded. GOOG and most of the market are flat from 2 years ago.
foofie 3y ago
In the last quarter Alphabet reported "total revenues of $76.69bn, an increase of 11 percent year-on-year (YoY)." Google Cloud alone grew 22%. https://erp.today/storm-clouds-for-google-as-q3-misses-analysts-expectations-despite-ai-flurry/ https://erp.today/storm-clouds-for-google-as-q3-misses-analy...
- andsoitis 3y ago
  > In the last quarter Alphabet reported "total revenues of $76.69bn, an increase of 11 percent year-on-year (YoY)." You’ve got to (a) zoom out and look at trend, (b) focus on profit, not revenue, and (c) look at forecast (future, not past). Alphabet net income for the twelve months ending September 30, 2023 was $66.732B, a 0.39% decline year-over-year. Their annual net income for 2022 was $59.972B, a 21.12% decline from 2021. And their annual net income for 2021 was $76.033B, a 88.81% increase from 2020. If you believe that companies should grow, then a trend of rapidly decreasing profits is very worrisome and that you need to turn around. https://www.macrotrends.net/stocks/charts/GOOG/alphabet/net-income https://www.macrotrends.net/stocks/charts/GOOG/alphabet/net-...
- VirusNewbie 3y ago
  yeah, and google cloud is hiring. They're winding down teams in non profitable areas. I wish they were a little more strategic, but this time they are allowing affected team members to keep corporate access and apply internally to open roles.
mjan22640 3y ago
The Alphabet stock went up ~50% over the last year.
- alecco 3y ago
  Bubble.
  - candiodari 3y ago
    Really? I've often thought that of all the FANGs, Google has a pretty low multiple and scores pretty damn good on essentially all metrics. And I don't mean just "compared to Tesla".
poulpy123 3y ago
> The market is brutal and it does not care. not the market but the capitalists
bossyTeacher 3y ago
Are you saying that "BigHead" kind of devs are doomed? And why does Google keep laying off people? You would think that they would do the relevant calculations and fire everyone they need to keep the costs down. The multiple rounds speaks of incompetency at Google. Given their unssuccessful attempts at besting OpenAi, it is not surprising. But still it is kind of scary to see how Google has become the old Microsoft and how the OpenAi is now the new Google
- UncleMeat 3y ago
  Hard to say if BigHead style devs are being affected here. Annual review ratings aren't quite yet finalized, so it is hard to know whether they could be used as input to a layoff system.
  - rightbyte 3y ago
    What is "BigHead style devs"?
    - UncleMeat 3y ago
      BigHead is a character from Silicon Valley who doesn't actually know how to do anything, does basically zero work, and manages to still fail upwards. This is describing devs that are sitting around and doing an hour of work a day and aren't actually achieving anything but have somehow managed to not get fired for low performance because their manager isn't paying attention.
      - lulznews 3y ago
        This is actually the ideal profile at FAANG and a quick track to upper management.
      - okdood64 3y ago
        > devs that are sitting around and doing an hour of work a day I think for a lot of people this seems nice on paper, but in the past I've realized that you can be so bored that you actually start doing work.

by rvz 3y ago

Engineers affected. The coasting day care is over and Google is in code red wartime mode in a state of panic. Sorry. The market is brutal and it does not care. No one is safe, not even Google.

abnercoimbre 3y ago

You think mass layoffs will start slowing down, or was last year a trend that's barely getting started? I just wish I could find well-educated guesses (because I know it's hard to predict definitively) but news sites are typically shallow / sensational.

brnt 3y ago
Is money cheap again? No. There is no guessing, just some hysteresis.
bossyTeacher 3y ago
I think this will likely last at the very least until the end of 2025 if not more. Companies seem to be delaying laying off all the people they need to layoff. To become strong, we must first experience weakness

ulfw 3y ago

What market? Google stock is up 56% YoY. Fifty six percent. What do you think it should be? 2000%? It's a huge mature company. 56% in a year is unheard of.

em1sar 3y ago
[dead]
rvz 3y ago
> Google stock is up 56% YoY. Fifty six percent. That's it? Screaming about 56% in one year is hardly anything to be celebrating about. Compared with the likes of Meta with >200% in 1 year with just buying and holding alone tells us that was a much better return than Google which is already getting disrupted as it flails about. > What do you think it should be? 2000%? If you're talking making 2000% in one year, go and do some 0DTE options gambling on some other stocks. > It's a huge mature company. 56% in a year is unheard of. That means absolutely nothing. We gave Google enough time to respond to its rising competition and all it could do was fabricate a demo in front of the world. No wonder the layoffs happened.
gniv 3y ago
> It's a huge mature company. 56% in a year is unheard of. MSFT is up 60% yoy. To say nothing about NVDA. Anyway, the market rebounded. GOOG and most of the market are flat from 2 years ago.

foofie 3y ago

In the last quarter Alphabet reported "total revenues of $76.69bn, an increase of 11 percent year-on-year (YoY)." Google Cloud alone grew 22%. https://erp.today/storm-clouds-for-google-as-q3-misses-analysts-expectations-despite-ai-flurry/ https://erp.today/storm-clouds-for-google-as-q3-misses-analy...

andsoitis 3y ago
> In the last quarter Alphabet reported "total revenues of $76.69bn, an increase of 11 percent year-on-year (YoY)." You’ve got to (a) zoom out and look at trend, (b) focus on profit, not revenue, and (c) look at forecast (future, not past). Alphabet net income for the twelve months ending September 30, 2023 was $66.732B, a 0.39% decline year-over-year. Their annual net income for 2022 was $59.972B, a 21.12% decline from 2021. And their annual net income for 2021 was $76.033B, a 88.81% increase from 2020. If you believe that companies should grow, then a trend of rapidly decreasing profits is very worrisome and that you need to turn around. https://www.macrotrends.net/stocks/charts/GOOG/alphabet/net-income https://www.macrotrends.net/stocks/charts/GOOG/alphabet/net-...
VirusNewbie 3y ago
yeah, and google cloud is hiring. They're winding down teams in non profitable areas. I wish they were a little more strategic, but this time they are allowing affected team members to keep corporate access and apply internally to open roles.

mjan22640 3y ago

The Alphabet stock went up ~50% over the last year.

alecco 3y ago
Bubble.
- candiodari 3y ago
  Really? I've often thought that of all the FANGs, Google has a pretty low multiple and scores pretty damn good on essentially all metrics. And I don't mean just "compared to Tesla".

poulpy123 3y ago

> The market is brutal and it does not care. not the market but the capitalists

bossyTeacher 3y ago

Are you saying that "BigHead" kind of devs are doomed? And why does Google keep laying off people? You would think that they would do the relevant calculations and fire everyone they need to keep the costs down. The multiple rounds speaks of incompetency at Google. Given their unssuccessful attempts at besting OpenAi, it is not surprising. But still it is kind of scary to see how Google has become the old Microsoft and how the OpenAi is now the new Google

UncleMeat 3y ago
Hard to say if BigHead style devs are being affected here. Annual review ratings aren't quite yet finalized, so it is hard to know whether they could be used as input to a layoff system.
- rightbyte 3y ago
  What is "BigHead style devs"?
  - UncleMeat 3y ago
    BigHead is a character from Silicon Valley who doesn't actually know how to do anything, does basically zero work, and manages to still fail upwards. This is describing devs that are sitting around and doing an hour of work a day and aren't actually achieving anything but have somehow managed to not get fired for low performance because their manager isn't paying attention.
    - lulznews 3y ago
      This is actually the ideal profile at FAANG and a quick track to upper management.
    - okdood64 3y ago
      > devs that are sitting around and doing an hour of work a day I think for a lot of people this seems nice on paper, but in the past I've realized that you can be so bored that you actually start doing work.