How are you holding up, Hacker?
You already know it was a loopy week in information when a billionaire placing 11,000 individuals out of labor is just the third worst billionaire of the week. Preventing for quantity 2 and 1, we’ve got: a billionaire who botched his complete internet price by 94% in a single single day, screwing over whole business and forcing his company into bankruptcy; and one other billionaire who actually didn’t need to purchase an organization for $44 billion, a lot in order that he’d slightly watch it burn. And it is solely Thursday 🤯
Have some #opinion re/ the information this week? Tell us through this template.
Mass Tech Layoffs
So it occurred. The bubble bursted on huge tech. Corporations huge & small which have overhired for two years throughout the pandemic, at the moment are compelled to make huge cuts as a consequence of shrinking income and looming recession. This week, Meta joins a rising listing of Silicon Valley corporations in implementing mass layoff (11,000 individuals, or roughly 13% of its workforce).
If you happen to occur to be one of many a whole bunch of 1000’s of tech employees affected by these mass layoffs – here is our recommendation for you: NOW is the time to get (again) into writing! A lot of our writers use HackerNoon tales as private portfolios to use for a job and even fundraise. So are you able to ⬇️⬇️⬇️
Mirror on Your Profession Journey Immediately. Use this Template to share your Tech-Layoff Story.
A Unhappy Story for Crypto
The most important information of the week goes to the speedy & large downfall of the world’s 2nd greatest crypto trade, FTX and its billionaire champion, Sam Bankman-Fried (SBF, aka ex-crypto king), on the (alleged) palms of the (undoubtedly now) greatest crypto trade, Binance, and its CEO CZ. At HackerNoon, we’ve got revealed
What’s YOUR tackle FTX vs. Binance vs. The Way forward for Crypto? Share right here.
Elon’s Twitter. Location: Hell
Lastly, Elon Musk strikes once more. Yup, the world’s richest man’s actions this week actually made us all marvel why tf did he turn out to be so wealthy within the first place, and bursted the parable of (any) correlation between expertise and wealth. After reluctantly compelled to purchase Twitter for a whopping 44 billion {dollars} (which, btw, CZ, the Binance CEO, was additionally in on 👀), Elon marched into Twitter HQ with a sink, fired half of its workforce over an unsigned electronic mail, launched/re-launched then unlaunched a half-baked subscription service for 8 {dollars}, then introduced in an emergency all-hands yesterday that “chapter is not out of the query”, all of the whereas, tanked valuation of the corporate from 44 billions to eight billion in lower than 2 weeks.
Learn that once more. We additionally would not oppose to you screenshoting the above paragraph to inspire you everytime you suppose you might be having a nasty week. However you recognize what you’ll be able to at all times do? ⬇️⬇️⬇️
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Till subsequent time – this has been HackerNoon’s Writers Observe
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