Like literally, most of the global layoff all over the world including Nigeria have been in the tech industry, from twitter, coinbase, amazon, jumai to Quidax.

Seems like tech businesses aren't recession proof.

First and foremost the businesses in tech are over valued because of speculation and ipo purposes, they employ a lot of people and then when recession comes, they are always the first to layoff lot of workers.

Till today, i still dont understand why tech companies will have 5k to 50k workers.

Back in the days, you only need 5 to 10 employees to run a very successful tech business. And most of these businesses were profitable.

Following...

thebosstrevor1:
Like literally, most of the global layoff all over the world including Nigeria have been in the tech industry, from twitter, coinbase, amazon, jumai to Quidax.

Seems like tech businesses aren't recession proof.

First and foremost the businesses in tech are over valued because of speculation and ipo purposes, they employ a lot of people and then when recession comes, they are always the first to layoff lot of workers.

Till today, i still dont understand why tech companies will have 5k to 50k workers.

Back in the days, you only need 5 to 10 employees to run a very successful tech business. And most of these businesses were profitable.

Op, calm down. All ur assumptions are almost wrong.

Make the gurus come explain to you... You need 5 to ten people to run what?

Calm down.

LikeAking:


Op, calm down. All ur assumptions are almost wrong.

Make the gurus come explain to you... You need 5 to ten people to run what?

Calm down.

My assumptions are not wrong.

The most profitable tech companies aren't run by thousands of employees.

The idea of thousands of employees working for a tech company started with Venture capitalism because of the idea of hyper growth for IPO...literally this type of operation often leads to mass layoff when there is economic crisis.

thebosstrevor1:


My assumptions are not wrong.

The most profitable tech companies aren't run by thousands of employees.

The idea of thousands of employees working for a tech company started with Venture capitalism because of the idea of hyper growth for IPO...literally this type of operation often leads to mass layout when there is economic crisis.

I'm interested in the profitable tech businesses run by 10 people. Do you have some kind of reference for that?

airsaylongcome:


I'm interested in the profitable tech businesses run by 10 people. Do you have some kind of reference for that?

Craiglist is an example. I dont think they have up to 20 people but thats a wrong comparison to a company like Google or Microsoft wheres then literally thousands of products with more being built each day.

airsaylongcome:


I'm interested in the profitable tech businesses run by 10 people. Do you have some kind of reference for that?

go check crunchbase, there are many profitable tech companies run by 10-20 people.

I just wanna say something, OpenAI is run by 20 people and they have raised 1 billion, soon Open Ai will have 5k employees to fast-track growth and do an IPO

tensazangetsu20:


Craiglist is an example. I dont think they have up to 20 people but thats a wrong comparison to a company like Google or Microsoft wheres then literally thousands of products with more being built each day.

Microsoft and Google, they are literally corporations but you will see unprofitable tech companies with no revenue having 10k employees, then when another recession comes, about 75% of the employee will be sacked.

The tech industry now has one of the highest layoff rates...according to data, The global tech industry has seen 119,155 employees laid off by 887 companies in 2022, representing the largest layoff activity in the industry,

thebosstrevor1:


Microsoft and Google, they are literally corporations but you will see unprofitable tech companies with no revenue having 10k employees, then when another recession comes, about 75% of the employee will be sacked.

The tech industry now has one of the highest layoff rates...according to data, The global tech industry has seen 119,155 employees laid off by 887 companies in 2022, representing the largest layoff activity in the industry,

This is true. I was reading up on a company called carvana. That business model made zero sense but they had like 3000 employees. They laid a lot of people off recently and they are still laying off.

Honestly, people should research companies before joining and ask hard questions. If the business model makes no sense, don't bother. If it's a remote role, don't quit your formal role. That's how someone I follow on Twitter left google to join Coinbase despite being on H1B and Coinbase just laid off and he has 60 days to find a new job or go back to his country but google has never laid off anyone. It's not always about money.

tensazangetsu20:

This is true. I was reading up on a company called carvana. That business model made zero sense but they had like 3000 employees. They laid a lot of people off recently and they are still laying off.

Honestly, people should research companies before joining and ask hard questions. If the business model makes no sense, don't bother. If it's a remote role, don't quit your formal role. That's how someone I follow on Twitter left google to join Coinbase despite being on H1B and Coinbase just laid off and he has 60 days to find a new job or go back to his country but google has never laid off anyone. It's not always about money.

in my opinion, I think the present VC model is flawed and also ruthless, the aim is to make money as fast as possible, don't they care if people will get sacked. They give large amounts of money to startups without a tested business model, they force you to mass recruit to grow fast, then make sure you raise again to mass recruit.

The VC model is like gambling, throwing a lot of money everywhere, hoping that one company will do an IPO to cover up the losses of other failed investments.. literally what that does is make the industry a place for mass layoffs and instability.

tensazangetsu20:

This is true. I was reading up on a company called carvana. That business model made zero sense but they had like 3000 employees. They laid a lot of people off recently and they are still laying off.

Honestly, people should research companies before joining and ask hard questions. If the business model makes no sense, don't bother. If it's a remote role, don't quit your formal role. That's how someone I follow on Twitter left google to join Coinbase despite being on H1B and Coinbase just laid off and he has 60 days to find a new job or go back to his country but google has never laid off anyone. It's not always about money.

How person go live Google, go coinbase?

thebosstrevor1:
Like literally, most of the global layoff all over the world including Nigeria have been in the tech industry, from twitter, coinbase, amazon, jumai to Quidax.

Seems like tech businesses aren't recession proof.

First and foremost the businesses in tech are over valued because of speculation and ipo purposes, they employ a lot of people and then when recession comes, they are always the first to layoff lot of workers.

Till today, i still dont understand why tech companies will have 5k to 50k workers.

Back in the days, you only need 5 to 10 employees to run a very successful tech business. And most of these businesses were profitable.

The reasons for the layoffs are well documented. A hiring spree during the pandemic, inflation, supply-chain problems, and revenue revenue growth for tech companies.

tensazangetsu20:

This is true. I was reading up on a company called carvana. That business model made zero sense but they had like 3000 employees. They laid a lot of people off recently and they are still laying off.

Honestly, people should research companies before joining and ask hard questions. If the business model makes no sense, don't bother. If it's a remote role, don't quit your formal role. That's how someone I follow on Twitter left google to join Coinbase despite being on H1B and Coinbase just laid off and he has 60 days to find a new job or go back to his country but google has never laid off anyone. It's not always about money.

Alphabet is also laying off.

LikeAking:



How person go live Google, go coinbase?

Many Google employees leave after a year. There's nothing special working there.

LikeAking:



How person go live Google, go coinbase?

A lot of people are mad but few are roaming and to think it was even an Indian on H1B

LikeAking:



How person go live Google, go coinbase?

Because na where the coin base

LikeAking:



How person go live Google, go coinbase?

Early last year, crypto and metaverse was the rave and everyone wanted to be in it.

Don't blame him

Before anyone complains about lay offs, we should remember there is something called bankruptcy or fold up.

Tech is vital no doubt and lay off are inevitable in the face of global inflation and lesser demand.

This thread should be on frontpage admin lalasticlala.

Nlfpmod this shoulder on Frontpage

What are the skills people should learn again ooo since tech is doing lay off

The in- rush is too much and it's a bubble

Everybody wan enter tech...

They have too much money to throw around. It is usually shaking them at first. They want to be known and talked about. Hype is a huge part of the tech industry. It is only normal they layoff the excess. Some are also overvalued. Those figures they throw around are bogus.

damble:
What are the skills people should learn again ooo since tech is doing lay off

You would do fine with most professional skills even if it is Human Resources. People just heard of “tech” and started acting like every other sector is going extinct the next second.

Of course it has to be so. Machines are gradually taking over most of our job functions. Very soon, machines will take over completely from man, and as predicted in The Terminator triology, attempt to wipe out human beings completely from earth.
If you've been following Hollywood Sci-fi trend since the 80s, you'll want to take The Matrix a bit serious.

GeorgeFloyd99:

Russia Rolls Out Combat Robot To 'detect And destroy' Tanks


On Wednesday, Washington and Berlin announced they were ready to provide Kiev with M1 Abrams and Leopard 2 tanks in the coming months. The decisions came as Russia continues its special military operation in Ukraine.


A strike version of the Russian-made Marker robot will be capable of hitting the German and US-made main battle tanks, due to be delivered to Ukraine, Dmitry Rogozin, former director general of the Russian federal space agency Roscosmos, has told Sputnik.
He explained that the robot’s control system features an electronic catalog with images of targets in the visible and infrared ranges, which helps the Marker automatically detect the enemy’s military hardware.

"For example, as soon as deliveries of the Abrams and Leopard tanks to the Ukrainian troops begin, the Marker will be fitted with an appropriate electronic image to detect and destroy the US and German tanks with anti-tank guided missiles,” Rogozin said.

He pointed out that the Marker can also prioritize the enemy’s targets when on the front.
The ex-Roscosmos chief said that in February, four Marker robots will be delivered to the Donbass region(Russia), where they are expected to enter service shortly after going through a number of tests.


Rogozin spoke after German Defense Minister Boris Pistorius announced Berlin’s decision to send 14 Leopard 2 tanks to Ukraine, something that was followed by US President Joe Biden saying that Washington will deliver 31 Abrams tanks to Kiev.
The Russian Embassy in Germany warned that “this extremely dangerous decision [by Berlin] shifts the Ukrainian conflict to a new level of standoff.” Kremlin spokesman Dmitry Peskov for his part told reporters that arms supplies to Ukraine by Western countries testify to their direct and growing involvement in the conflict.

"There are constant statements from European capitals and from Washington that the sending of various weapons systems, including tanks, to Ukraine in no way means the involvement of these countries or the alliance in the hostilities that are taking place in Ukraine. We categorically disagree with this," Peskov added.

Moscow has repeatedly warned that the US and its allies sending military aid to Kiev adds to prolonging the Ukrainian conflict. The Russian Foreign Ministry said that NATO countries “play with fire" by supplying weapons to Kiev, and that any convoy of arms for Ukraine will become a legitimate target for Russian forces.

The Leopards’ first combat experience, and battlefield losses, occurred during the US-led war in Afghanistan. In the course of fighting against the Taliban,* three Canadian and six Danish Leopard 2s were irretrievably lost, with another 15 Canadian Leopards disabled but repaired.
The US led coalition was eventually defeated in Afghanistan in 2021 after about 20 years of fighting.
The Taliban emerged as the victors and sacked the US coalition and it's cronies.

Leopard 2A4 tanks were deployed to northern Syria in 2016 and 2018 for combat missions.
A dozen or more of them were knocked out by IEDs, suicide car bombs, or anti-tank guided missiles.

The M1 Abrams’ debut was during Operation Desert Storm, the US war with Iraq in 1990 and 1991, that aimed to drive the Iraqi army out of Kuwait. Even though the tank performed relatively successfully at the time, several years later, US tank battalions sustained losses in urban combat during Washington's invasion of Iraq. Reportedly, over 80 Abrams had been destroyed by then and 530 more had been forced back to the US for extensive repairs.

When these tanks arrive in Ukraine, a lot of [Russia's] anti-tank weapons, ground-based, stationary, mobile, air-based, various anti-tank systems will be waiting for them.

Slava Ukraina

They just overhired during pandemic.

Every profession has its peak, when you get to the peak, it starts to decline. The tried and trusted profession will still be medical. There's no substitute for it.

You clearly know nothing about tech. With all the complexity and global operations of these companies you expect them to have 10 to 20 employees or what

Interesting...
I remember what John Mcafee(the father of anti-virus systems) said about crypto.
Dude was scamming people with crypto...starting up and hyping different crypto coins while falsely predicting that the value of Bitcoin will soon hit a million dollars
When the value of Bitcoin started going south..
They interviewed the dude and he was like..."Haa never mind all those my false predictions about the value of Bitcoin hitting a mili..I did all that to scam people...I already knew the crypto bubble would burst sooner than later cus the whole concept was based on "Ancient technology"... LoL... whatever the dude meant by "Ancient technology"...