Tech Layoffs Are Feeding a New Startup Surge

Re:Tech Layoffs Are Feeding a New Startup Surge by ahi on Thursday February 23, 2023 @01:31PM (#34914488)

I got laid off in November (not faang). I was going to wait until the right position came around, but as the lay offs kept coming in January I jumped on the first non-terrible opportunity. If the music stops I don't want to be without a chair.

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Re:Tech Layoffs Are Feeding a New Startup Surge by ejb999 on Thursday February 23, 2023 @03:09PM (#34915795)

good choice - you definitely don't want to be caught without a chair when the music stops.

Whether one likes musk or not, and whether or not you agree with how he is running twitter or not - he let go like 80% of the company and it is still more or less running (with some bumps) - I don't think other companies will go to quite that extreme, but I'd bank that some executives right now in some companies are asking themselves "can we at least cut 33% of the staff and still keep things (more or less) running"?

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Re:Tech Layoffs Are Feeding a New Startup Surge by yunwal on Thursday February 23, 2023 @05:31PM (#34917597)

I mean, twitter’s worth about 40% of what it was when Musk bought it. Hardly a success story.

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Re:Tech Layoffs Are Feeding a New Startup Surge by wincy on Thursday February 23, 2023 @11:28PM (#34920756)

It’s not worth anything until he sells it. That’s just some imaginary number people are making up to cast aspersions at Elon Musk.

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Re:Tech Layoffs Are Feeding a New Startup Surge by yunwal on Friday February 24, 2023 @02:05AM (#34921760)

I mean, fidelity has no reason to cast false aspersions at musk especially since they own equity in several of his companies

https://www.axios.com/2023/01/29/fidelity-cuts-twitter-valua...

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Re:Tech Layoffs Are Feeding a New Startup Surge by andsoitis on Friday February 24, 2023 @01:31AM (#34921542)

How are you calculating its current value, given its finances are now private and it is not traded on the open market?

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Re:Tech Layoffs Are Feeding a New Startup Surge by yunwal on Friday February 24, 2023 @02:04AM (#34921754)

Financial institutions that own significant equity in twitter still publish their valuations https://www.axios.com/2023/01/29/fidelity-cuts-twitter-valua...

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Re:Tech Layoffs Are Feeding a New Startup Surge by andsoitis on Friday February 24, 2023 @03:04PM (#34929368)

Ha! Interesting. Thanks for that, I stand corrected.

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Re:Tech Layoffs Are Feeding a New Startup Surge by skinnymuch on Saturday February 25, 2023 @09:14PM (#34942401)

I expect Twitter to be worth even less than 40% with that $8B in debt on the books.

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Re:Tech Layoffs Are Feeding a New Startup Surge by ejb999 on Friday February 24, 2023 @05:14AM (#34922987)

and they are the only tech company that is down 40% or more since thier high, correct?

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Re:Tech Layoffs Are Feeding a New Startup Surge by yunwal on Friday February 24, 2023 @10:52AM (#34925720)

Not the only one, but idk why people would follow Musk’s lead as opposed to, say, Tim Cook’s, when apple’s valuation has barely taken a dip.

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Re:Tech Layoffs Are Feeding a New Startup Surge by DoesntMatter22 on Sunday February 26, 2023 @08:11AM (#34945256)

Tesla is also making money hand over fist so following Musk makes sense. He just acquired twitter which was a money loser. Going to take time to turn it around

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Re:Tech Layoffs Are Feeding a New Startup Surge by weatherlite on Friday February 24, 2023 @12:31AM (#34921207)

Excellent choice. If/when things improve you can make the switch, for now you've got steady income and a non terrible position. That's better than a lot of people.

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