Cable Forum - View Single Post - Facebook/Meta to cut 13% of its workforce

**Damien** · 10-11-2022, 22:00

Metaverse is a diaster.

But also the tech industry has been in a bit of a bubble for a while and advertising will decline in a recession. Not a surprise really. Facebook/Twitter/Google all make speculative bets on things and staff up for them without a clear idea of how they'll make a profit, such as Metaverse, and cheap money will be hard to come by with interest rates going up.

There is a reason why Apple, who never do anything unless they know they can make a lot of money from it right now, are not seeing as big a drop as the rest of the industry in their share price.

10-11-2022, 22:00	#4
Damien Remoaner Cable Forum Team Join Date: Mar 2004 Posts: 32,224	Re: Facebook/Meta to cut 13% of its workforce Metaverse is a diaster. But also the tech industry has been in a bit of a bubble for a while and advertising will decline in a recession. Not a surprise really. Facebook/Twitter/Google all make speculative bets on things and staff up for them without a clear idea of how they'll make a profit, such as Metaverse, and cheap money will be hard to come by with interest rates going up. There is a reason why Apple, who never do anything unless they know they can make a lot of money from it right now, are not seeing as big a drop as the rest of the industry in their share price.