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Maybe because the CEO blew a ton of money on the meta verse and the end result was Second Life
The ceo blew money on the metaverse because the brand was so toxic after all those whistleblowers came out last year
i wouldn't say scary, more so expected. they over hired and their platforms are moving towards the myspace realm. what they did try to innovate in.. is just weird. also a lot of my tiktok feed was people working at meta claiming not to work.
I suppose TikTok doesn’t have to be very profitable as it’s basically China’s intelligence arm.
Keep ur heads down and stay chargeable everyone 👍
Just wait.
Chief
Why is this scary? Most big tech firms aren’t significant buyers of consulting services because they already attract top talent. Meta’s flagship product is in decline and its founder blew a ton of money on something likely to be remembered as a vanity project.
Start worrying when you see mass layoffs in financial services, power and utilities, and consumer products.
Thank you for this 💕
Not scary at all. They have thrown a ton of resources on a "unique" (I'll be polite) project that they have not been able to monetize and may not be able to monetize for a really long time, if ever. At some point, sanity prevails.
Chief
Scary if your paychecks say meta on them. Mine don't, so I'm not panicking. But definitely sucks for those employees to hear this in wsj instead of from mgmt
It may start a domino effect .
Why is that scary? I'm rarely on Facebook and the Metaverse is an adult version of recreating the Sims. I'm not spending more than 15 mins the metaverse because: 1. I will get a raging headache. 2. I can go to the office once a week and catch up with my team. Meta was a good pandemic idea, but unless you are an INCEL with zero friends, I don't see why anyone would wear it for anything other than the annoying MD asking to meet in the Metaverse.
All they had to do was be like “heyyy let’s not help governments perpetuate genocide in multiple countries because it means more ad views” and none of this would have happened
Like…I go every day without trading genocide for ad views. And because of that, o don’t have to rebrand to meta and release failing products that look like 90s cartoons
Why it is scary?
Stuff like this gets me wondering: are CEO’s, etc, like scared to make big decisions like this. Is this momentum to layoff big tech empl. because of Twitter. I guess i also don’t see if there is a reason to layoff or just simply Big Tech has wanted to and Twitter started the trend. #foodforthought
Um no
Twitter and meta have been hemorrhaging money. One was bought out and other has gone down by 70% in last 1 year. This was very predictable
Do all of you have a subscription to the WSJ? People post articles all the time that require a subscription like I’m the weird one for not paying for news.
PwC also gets it for free