Lyft layoffs!
https://www.wsj.com/articles/lyft-plans-to-lay-off-hundreds-of-staffers-11667490092 First stripe now Lyft , tomorrow(supposedly) Twitter. Who’s next. 😭
The Wall Street Journal
DM for Atlassian referral
Don’t work at Atlassian! It’s a mess!
Can you elaborate?
18% of opendoor, 50% of Twitter, 14% of stripe and 13% of Lyft all in 24 hours. what happens when war breaks out over Taiwan and 40% of semiconductor production disappears overnight?
We also had 12% layoffs yday 😔
our entire company closed tuesday :/
If you got laid off I’m willing to help. Dm me.
Square will probably freeze hiring before anyone can get through the interview process.
Doubt it. Headcount is basically flat for next year anyway
meta -- 90% sure, stock can't lose 75% and company see no consequences
Meta won't lay off
Want to bet?
> who’s next Meta on 11/7 or 11/8 unfortunately
Is that magic 8 ball reading or is there evidence of this
Saw some thread mentioned that Meta is working with Bain consulting for this. Let's just wait and see
What is the severance?
10 weeks
Accelerated vesting?
Don’t want to imply any correlation but am noticing the layoff trends are hyper concentrated on B2C products and not yet seeing contagion in B2B.
Lol stripe?
There is a correlation. B2C gets revenue from fluctuating ad dollars and consumer buying power. B2B gets revenue from SaaS contracts that are locked in for years.
I think Lyft is done. So few drivers, pricing several times higher than Uber. Longer wait times. Way worse international market penetration than Uber. Uber can onboard drivers as: food delivery, taxi service, package delivery, or errand runners in some countries. It's a much more robust contractor sourcing pipeline. The stink from Uber's controversies is disappearing. Lyft is entering the two-sided market place death spiral. Less drivers, less customers, less incentive to onboard.
Not that I think Lyft will be definitely OK but pricing is mostly in line with Uber. I hear as much Lyft is cheaper as otherwise. Your experience is yours only. Also about food delivery? Do you think people will keep paying $20-30 for cold food during a recession? Rides will be affected but not as much and it will lead to more drivers because no more free money next few years.
Best thing for Uber is for Lyft to survive with <30% market share...don't think we want someone like Google / Apple buying them for pennies on the dollar and directly competing with us.
Did LinkedIn had one yet
It’s in the pipeline.
no but sentiment is not so great internally
> who’s next Everyone
Shouldn't generalize isolated incidents
"Shouldn't generalize isolated incidents" ... Once is happenstance. Twice is coincidence. Three times is enemy action.