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
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
these videos are 🔥
To be fair from those videos it did seem like these people did little work and enjoy over priced luxuries at work.