November 6, 2022

I THINK ELON HAS GIVEN THE OTHER TECH COMPANIES COVER TO DO WHAT NEEDS TO BE DONE: Facebook parent Meta is preparing large-scale layoffs this week – WSJ. “Facebook parent Meta in October forecasted a weak holiday quarter and significantly more costs next year wiping about $67 billion off Meta’s stock market value, adding to the more than half a trillion dollars in value already lost this year. The disappointing outlook comes as Meta is contending with slowing global economic growth, competition from TikTok, privacy changes from Apple, concerns about massive spending on the metaverse and the ever-present threat of regulation.”

Nobody at these companies has worried about unemployment for many years, and it shows in their behavior.

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