When it was the crypto industry laying off employees, I saw a giant wave of responses of screeching, laughing and lots of schadenfreude. But when it is the wider tech industry, now it is 'X is hard' or 'oh dear' and 'this is not looking good'.
The age of free, cheap dump money being thrown around has come to an end with multiple companies still not making any money, with unsustainable amounts of head count now shedding employees. But this comes as to no surprise anyway.
Unless the head count is low and is making tons of money like Binance, FTX, Kraken or the company is insanely profitable in all directions like Google, Apple and Microsoft, then you are certainly going to survive.
Companies like Netflix, Clubhouse, etc on the other hand are going to struggle in the long run.
EDIT: I guess the tech bros at unprofitable startups are upset and can't begin to refute the hard brutal truth in my comment.
The age of free, cheap dump money being thrown around has come to an end with multiple companies still not making any money, with unsustainable amounts of head count now shedding employees. But this comes as to no surprise anyway.
Unless the head count is low and is making tons of money like Binance, FTX, Kraken or the company is insanely profitable in all directions like Google, Apple and Microsoft, then you are certainly going to survive.
Companies like Netflix, Clubhouse, etc on the other hand are going to struggle in the long run.
EDIT: I guess the tech bros at unprofitable startups are upset and can't begin to refute the hard brutal truth in my comment.