Meta Layoffs
The big announcement around here in Silicon Valley is the impending Meta layoffs. Nothing unexpected as Meta has lost as well as not made lots of money this year. Cost cutting was expected. But does this mean the Tech world is all gloom and doom as other companies follow suit and start cutting back expenses? Perhaps.
The reality in Silicon Valley is that change is the constant here in the Valley. Older companies will lose out to newer and more nimble companies and will eventually be replaced. This is simply the law of the jungle here.
As Meta announces the coming layoffs, not everyone is losing customers and in a shrinking mode. Other companies are doing well and looking to expand their footprint.
TikTok or ByteDance, the parent company just signed a lease to take over Yahoo’s Headquarters of nearly 700,000 sf of office space covering two buildings. This is the company that is currently the darling of Social Media and is in expansion mode.
Meta and Twitter (old guard) is in shrinking mode; while the new kid on the block - TikTok - is in expansion mode.
How many of those tech workers getting their pink slips will be heading off to the new company getting all the new customers?
Remember, Yahoo, the company which shut down their 700,000 headquarters now being handed over to TikTok was once the biggest player in Silicon Valley only 20 years ago. Circle of life in Silicon Valley.
Do you agree or disagree? Comment below.
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