It's happening at ALL tech companies. Silicon Valley investors expect Theranos style growth from every company. If your local mom-n-pop pizza place isn't on track to a billion dollar evaluation they're "failing" and layoffs are the only solution. You might remember Theranos was a scam...
I worked for a midsize tech company for 9 years. We grew 20+% in 2022. This was short of our targets, so we had to lay off a ton of people. Obviously it wasn't the CEO's and investor's fault for betting the company on an absolutely unreachable growth target. It's normal to have 30+% year over year return on an investment. Right guys? Right? Oh yeah I fired everyone.
That's nuts. So when investors invest into the company, it sounds like a loan but you need to hit certain business targets, if not people get laid off. Google's 2022 revenue was 283 billion. But their growth was 10%, which was viewed as a disappointment. Hence the layoffs
Maybe the company shouldn't have wasted money on crepes and massages. I'd feel like I'm on the chopping block as a employee if your company had this wasteful superfluous nonsense and other employees, your peers were bragging about it on social media.
It is actually scary to think about it. One day you are working for multi-million dollar company for 5 years, the next day you get layoff.
Trillion dollar company actually
It's happening at ALL tech companies. Silicon Valley investors expect Theranos style growth from every company. If your local mom-n-pop pizza place isn't on track to a billion dollar evaluation they're "failing" and layoffs are the only solution. You might remember Theranos was a scam...
I worked for a midsize tech company for 9 years. We grew 20+% in 2022. This was short of our targets, so we had to lay off a ton of people. Obviously it wasn't the CEO's and investor's fault for betting the company on an absolutely unreachable growth target. It's normal to have 30+% year over year return on an investment. Right guys? Right? Oh yeah I fired everyone.
That's insane
That's nuts. So when investors invest into the company, it sounds like a loan but you need to hit certain business targets, if not people get laid off.
Google's 2022 revenue was 283 billion. But their growth was 10%, which was viewed as a disappointment. Hence the layoffs
underrated channel
To be fair from those videos it did seem like these people did little work and enjoy over priced luxuries at work.
these videos are 🔥
Maybe the company shouldn't have wasted money on crepes and massages. I'd feel like I'm on the chopping block as a employee if your company had this wasteful superfluous nonsense and other employees, your peers were bragging about it on social media.