levitate
I love you, you know.
So they can just fire them again next year?
Maybe these companies are just simply over-staffed?
MS increased their work force by 53% from 2019 to 2022…53%!
Bad Management!
Tech Industry job layoffs looking scary
- Thread starter dtownreppin214
- Start date
Maybe these companies are just simply over-staffed?
MS increased their work force by 53% from 2019 to 2022…53%!
Bad Management!
Batsute
The Lion Choker
They knew what they were doing, those covid incentives were too nice to pass up. There was no need to stock up like they did during the pandemic. This all about shareholders getting margins they are happy with.
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Understood hence my "capital runway" comment.
VCs were giving out money to everyone before the interest rates started jumping. If a startup raised cash in early 2021 and is about to run out already, then
These startups will do whatever it takes to survive, dilution aint shyt to shutting down. My little family VC office got our 2023 contributions lined up, so someone is still offering equity out there.
the sales folks are staying put. but the Admin and HR folks getting washed out. 85% of my LinkedIN connections are HR folks and its scary on there.
wordUnderstood hence my "capital runway" comment.
VCs were giving out money to everyone before the interest rates started jumping. If a startup raised cash in early 2021 and is about to run out already, then
These startups will do whatever it takes to survive, dilution aint shyt to shutting down. My little family VC office got our 2023 contributions lined up, so someone is still offering equity out there.
we'll see. i work on the private credit side so i work with and talk to a lot of lenders and start ups
if a company's model doesnt have strong revenue retention (ie. low churn rates) then we wont lend to them on the tech side.
if its business model is consumer driven (social media, e-commerce, gig economy stuff for instance) we wont either. and a lot of other firms feel the same way unless the core business is very non-cyclical
strict focus these days is on highly entrenched enterprise software and digital infrastructure when it comes to Tech. Other companies are assed out for the most part
convertible debt is one avenue that start ups can use to raise capital if they have the right profile. Here's an example of the sort of transaction that can work
Closing of a $401 Million Convertible Notes Offering | Arctic Wolf
Arctic Wolf®, a leader in security operations, today announced the closing of a convertible notes offering in the aggregate principal amount of $401 million.
arcticwolf.com
its tough to raise capital at valuations 80% lower than the last round. its a very tough pill to swallow and forces certain types of growth equity or VC investors to have to recognize immense write downs on their books.
most would rather kick the can down the road and raise debt than have to swallow that pill
most would rather kick the can down the road and raise debt than have to swallow that pill
Lost about 15 folks from my old team on Wednesday. Directors down to entry level folks. shyt is rough.
word
we'll see. i work on the private credit side so i work with and talk to a lot of lenders and start ups
if a company's model doesnt have strong revenue retention (ie. low churn rates) then we wont lend to them on the tech side.
if its business model is consumer driven (social media, e-commerce, gig economy stuff for instance) we wont either. and a lot of other firms feel the same way unless the core business is very non-cyclical
strict focus these days is on highly entrenched enterprise software and digital infrastructure when it comes to Tech. Other companies are assed out for the most part
convertible debt is one avenue that start ups can use to raise capital if they have the right profile. Here's an example of the sort of transaction that can work
Closing of a $401 Million Convertible Notes Offering | Arctic Wolf
Arctic Wolf®, a leader in security operations, today announced the closing of a convertible notes offering in the aggregate principal amount of $401 million.
These were the type of tech start ups I was targeting, not trying to be laid off twice in short order
My (new) company fits the digital infrastructure focus and had their Series C in Q1 2022 and landed in top half of the Deloitte Technology Fast 500 2 years in a row. Hoping that means I'm good, lol
Irresponsible
That’s why I call them irresponsible. We work for shareholders now and they expect big gains.
These jobs and bloated salaries ain't coming back. You're gonna see more outsourcing and importing of workers on visas. Especially if an immigration reform bill passes.
It's over. This will be the new reality for most 6 certs and 6 figures.
It's over. This will be the new reality for most 6 certs and 6 figures.
Linkedin bloodbath with the gogglers today
Duke Wy Lin
It's been a good run. Wish y'all the best ✊🏿
Dude walked right into that trap. Lifestyle creep is a bytch. "Price ended up being our flexible factor"
desjardins
Superstar
They sent me an invite to a two day recruiting event in NYC a couple days ago, no free hotel so I wasn't going regardless but was wondering if they made a mistake the way them layoffs going.
eastsideTT
Superstar
How long is going to take for the public and more importantly, regulators, to start being more loud about the fact that so many of these new fangled tech companies from the last 5 years were nothing but VC pump and dumps similar to Initial Coin Offerings in the Crypto industry? Except these are lot worse because there's a connection to real money, real banks, the real economy, and people's livelihoods. Look no further than Clubhouse, Wish, or anything Adam Neumann has been involved with for examples of this. Nothing but fugazi valuations, companies that are completely fukking useless (or exist nothing more as an answer in search of an actual problem) - who wins? The VCs and everyone else involved .
When the company's M.O. is "scale to infinity" and their answer to when they'll be profitable is "we need more funding" I think we're in trouble.
VC's like Andreeson need to be locked up , and they should be forced to return all of the money they have scammed and pilfered
When the company's M.O. is "scale to infinity" and their answer to when they'll be profitable is "we need more funding" I think we're in trouble.
VC's like Andreeson need to be locked up , and they should be forced to return all of the money they have scammed and pilfered
