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+19 +1
Big Tech’s Big Flops of 2022
This was not a great year for Big Tech. In 2022, the economy slumped, stocks fell, inflation skyrocketed, and belts tightened. Silicon Valley was one of the hardest-hit places, partly because some of its companies had experienced such explosive and sustained growth for so long that it almost didn’t seem possible for that growth to stop or even slow down. And yet, here we are.
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+21 +1
'Stress, burnout, churn, and a cut-throat atmosphere': An internal Amazon study slams the company's culture.
The document, a copy of which was obtained by Insider, paints a grim view of the company's internal culture and stresses the urgency for change.
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+21 +1
Tech's tidal wave of layoffs means lots of top workers have to leave the US. It could hurt Silicon Valley and undermine America's ability to compete.
Atal Agarwal first came to the US from India five years ago as a graduate student, eventually finding his way into the healthtech sector as a project manager. His employer sponsored his stay in the country, making him a holder of one of the United States' coveted H-1B work visas. But when the tidal wave of layoffs in the tech industry hit his employer, Agarwal found himself without a job — setting off a stressful 60-day timer to either find a new one that would come with visa sponsorship, or return to India.
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+23 +1
The Apple Car will cost 'no more' than $100,000
Apple's rumoured electric car keeps is getting closer to being a reality, but don't expect to pick one up at the Apple Store any time soon, and maybe get your Apple Pay in good shape first, because it'll cost a lot and may not have all the tech you expect.
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+25 +1
Tech Workers React to Ongoing Industry Layoffs With Shock
The ax fell suddenly and out of the blue for technology worker Nitesh Donti. Less than a year ago on the networking platform LinkedIn, he’d expressed excitement over his new job as an engineering manager at robot-vehicle company Nuro. Then last month, Nuro laid off Donti and around 300 others as it slashed 20% of its workforce.
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+24 +1
Meta employees can reportedly no longer discuss 'disruptive' topics like abortion, gun rights, and vaccines
Meta's head of people also said the company will no longer take a public stance on political issues unless the issue is "core" to Meta's business.
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+24 +1
Apple prepares to source chips from Arizona plant
Apple Inc is preparing to begin sourcing chips for its devices from a plant under construction in Arizona in the United States, Bloomberg News reported on Tuesday.
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+27 +1
Think twice before pouring your "heart and soul" into a corporate job
In a call with workers at Meta on Wednesday, founder and CEO Mark Zuckerberg told employees, “You’ve really put your heart and soul into this place,” before laying off roughly 11,000 people. Meta is joined by a number of other tech companies doing massive layoffs this year, and the trend serves as a stark reminder that your company, no matter how much you give, won’t always love you back.
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+22 +1
Amazon is reportedly putting its Alexa personal-assistant division under review as it seeks to cut costs across unprofitable businesses
Looks like no one is safe in this economy, including Amazon's Alexa. Amazon is joining other tech giants like Meta, Twitter, and Microsoft and taking a long, hard look at its least profitable businesses, the Wall Street Journal reported Thursday. Amazon's stock has already plunged 45% this year compared to last year.
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+23 +1
Facebook owner Meta cuts 11,000 jobs—13% of workforce
Facebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said in a letter to employees Wednesday. The job cuts come just a week after widespread layoffs at Twitter under its new owner, billionaire Elon Musk. There have been numerous job cuts at other tech companies that hired rapidly during the pandemic.
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+13 +1
Chinese chip designers slow down processors to dodge US sanctions
Alibaba and start-up Biren Technology are tweaking their most advanced chip designs to reduce processing speeds and avoid US-imposed sanctions aimed at suppressing Chinese computing power.
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+19 +1
Cryptoverse: Bitcoin wants to break its bond with stocks
After months of tears and tantrums, bitcoin wants to split up with stock markets. The cryptocurrency, which has been closely correlated with tech stocks for much of its torrid 2022, is staging one of its strongest efforts yet to break away. Its 30-day correlation with the Nasdaq slid to 0.26 last week, its level lowest since early January, where a measure of 1 indicates the two assets are moving in lock step.
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+14 +1
Will plunging shares end big tech’s era of ‘pornographic’ profits?
Last week was a bad time to be a tech billionaire. When the pandemic drove the world online, the founders of Facebook, Google and Microsoft reaped wealth gains described as “pornographic” and cemented their position as among the richest cohort ever to have trod the planet. Well, the “good times” are over. Sort of.
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+20 +1
Apple contractor fired after her day-in-the-life TikTok video went viral
An Apple contractor reportedly found her contract “unexpectedly” not renewed after a day-in-the-life TikTok video went viral. Nylah Boone’s “Day in the life of a Black girl working in tech” video didn’t reveal any secret goings-on within the company but did feature footage inside her office at Apple – as you can see below …
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+24 +1
The multi-billion-dollar potential of synthetic data
Synthetic data will be a huge industry in five to 10 years. For instance, Gartner estimates that by 2024, 60% of data for AI applications will be synthetic. This type of data and the tools used to create it have significant untapped investment potential. Here’s why.
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+25 +1
Meta's Shares Are a Hard Sell as Good Old Facebook Days Are Over
In most market environments, a company with one of the lowest valuations in the Nasdaq 100 Index, a solid balance sheet and sales growth averaging 34% a year would be an obvious buy. In the case of Meta Platforms Inc., it’s not so obvious.
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+20 +1
Meta's Journey to Innovation: Zuckerberg's Big Bet on the Metaverse
Meta has tried and failed at imitating successful tech platforms like Substack and Clubhouse, would Mark Zuckerberg’s bet on the metaverse finally be his next success story?
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+19 +1
More than half of Silicon Valley residents want to leave: ‘The mood is darkening’
A whopping 64% of residents in Silicon Valley are worried the region is on the wrong track.
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+19 +1
How Mark Zuckerberg Just Lost Over Half Of His Wealth
With costs rising, wages stagnant, and global uncertainty delaying any strong recoveries, people are having a rough time financially at the moment. In the world of the financial elite, where billions are made and lost from day to day, some people are feeling the sting, too. Mark Zuckerberg, one of the better-known billionaires and a regular on the top 10 list of the world's richest, has managed to lose half of his net worth since the first of January. While you're unlikely to see Zuckerberg skipping a mortgage payment or lining up at a food bank, he is still an astonishing $70 billion down since December 2021.
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+24 +1
DuckDuckGo, Proton, Mozilla throw weight behind bill targeting Big Tech ‘surveillance’
A group of privacy-focused organizations have signed a letter imploring US Congress leaders to schedule a vote on a bill that would hamper data collection by tech giants and promote user access to online privacy tools.
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