Spotify is late to the party, but they are letting go 17% which is huge compared to others in one go. be careful with similar type of industry. pocket fm, Kuku fm perhaps?
17% is huge, especially this late in the doom cycle
It feels like Spotify must be losing market share heavily against Apple Music, YT Music, etc.
The bundling of different subscriptions always wins over just separate standalone subscriptions
People spend beyond their means for app subscriptions. Consumers in US don't have a lot if disposable to spare. wars between well established players has begun. I want to see how long Starbucks holds as its a completely unnecessary expense.
For some Starbucks is a necessity.
I agree it's a very unnecessary expense, but people still wouldn't mind paying for it, especially if it has become a habit.
Everyone should be prepared to see layoffs across the tech industry due to application of AI. The most impacted function was bound to be human coders, as individual coders become 10x+ productive due to AI, and more so expected in future versions of GPT and Gemini.
Apart from layoffs which is harder to execute, expect to see new hirings in coding continue to decline. It might take some years to see the broad impact, but it'll happen because of huge reduction in operating costs.
Lol
lol lol lol
2024 is likely to be a very slow year.
They aren't late. They have already done 2 round of layoffs this year AFAIK.
Tech is slowly realizing that Elon was right and a huge amount of overhead is not necessary to grow these companies when you actually manage teams properly.
The long picture is even more scary. Tech companies have realised they don't need as many people once the product is ...
I heard from my friend KukuFM is laying off it’s entire content and product team. More layoffs in other team to follow. Is it true?
