Elon Musk proves it. Tech companies can lay off 75% of workers and manage much better with its finances. This decade proves to be a scary one. Massive lay offs in tech sector coming in as companies realize they can trim workers for higher profit. Benefits going to be cut (and is being cut): look at Meta. Total compensation to go down: already happening. Look at offers this year and then compare to past at levels.fyi (and pic below). Massive lowballing to many candidates. Entry market going to have massive influx going forward with candidates. We can all thank the tech influencers on TikTok for making this happen. #twitter
Tbh tech influencers on tiktok really had no shame
9999 tiktoks about āa day in the life of a dev/pm/hr/recruiter at meta/google/bigtechā, and the video is just 5 minutes of the person eating āfancyā office lunches and relaxing at the office facilities, with a half hour of working sprinkled in Apart from being the most boring nauseating content, they also gave this stupid impression that life in a tech job is āchill af and easy moneyā
Dry snitching on themselves and hurting those of us that actually work full days in the process Yay for social media
Musk says it's trending to break even, I am skeptical
Just like he said orbital launch āin a few months ā a few times now lol
Although he has exceptional track record in other companies.. these statements are hard to believe.. he wanted to quit Twitter but didn't happen yet..
Why are Twitterās financials not linked? Muskās word is worth nada.
less than nada, iād be inclined to believe the opposite
Yes take private at 420
Just wait until you find out how overpaid executives areā¦
A month ago Musk was claiming Twitter is on the road to bankruptcy. Now all of a sudden after selling some furniture, they're about to break even? Sure, dude... Twitter is getting sued for not paying their rent on their office space and you honestly believe the company is all of a sudden solvent?
Have you noticed how many ads theyāre running? Every 3rd tweet is an ad now Makes sense itās profitable but god the experience is so shit now
Didn't they lose 40% of the advertisers by revenue? They're probably trying to make up for it. https://www.theguardian.com/technology/2023/jan/18/twitter-revenue-drop-advertising-squeeze-elon-musk
The financials of Twitter were fine until he dumped the billions of dollars in debt into the company to buy it out.
According to Elon, Twitter was grossly unprofitable and losing $4 million/day prior to going private. On top of having extremely restrictive speech policies and shadowbans. And it fostered a dual class society: people with blue checks versus people without (aka āpeasantsā.)
lol Do you have any idea of how much debt Musk put Twitter into? He just had to pay 300 million to his creditors: https://www.reuters.com/technology/twitter-makes-first-interest-payment-musk-buyout-debt-sources-2023-01-31/ Twitter was not in any way losing 4 million a day. Look at their public filings. The facts are all there
Break even for this financial year I guess, he'll probably sell and leave before it inevitably falls like the house of cards it's become.
Have they have enough money to pay rent yet? š
L4 base < 165k for bay area means trouble. The MRP might reduce this year leading to no is minimal increase in pay.
Really though. 165k in the bay is āokā if youāre single with no kids Imagine having a family of 4 š¬š¬
The point I am trying to make is not about surviving with 165k. It's about no raises. If new offers are made lower to current minimum salary, it is possible that there might be no raises due to a decrease in MRP (market reference point) that Google uses to decide raises.
Good. Talents will build their own companies and compete with them. Every coin have two sides.
Yes already started
Yep, founded a startup that I had been pushing off for a few months