In this week’s podcast, Warren and Xander discuss the latest Big Tech earning reports for Q3 and Q4 2022. It’s a painful podcast – but an important one.
We start off with some surprising news from the crypto space: Binance’s imminent acquisition of FTX – the news of which has led the crypto space to basically melt down… again.
We then cover the one relatively bright spot in the industry right now: The completion of the Unity-ironSource merger. Lots of new opportunities await for both for the merged company and its many clients.
After that, we shift focus to the meat of the podcast – the Big Tech earnings.
Facebook revenue is down, Alphabet sees little growth, Snap sees a huge increase in its quarterly losses, and Apple is seeing relatively flat quarterly income. On top of this are additional news of hiring freezes or layoffs from Facebook, Alphabet, Apple, Amazon, and Twitter.
It’s definitely a rough time to be in tech, mobile games, or marketing. But there is still hope that as companies take a more deliberate analysis-driven approach to decision-making and profitability, that fortunes will change for the industry at large – including those who are facing layoffs and have recently been laid off.
Meta Reports Third Quarter 2022 Results
Mark Zuckerberg’s Message to Meta Employees
Alphabet Announces Third Quarter 2022 Results
Alphabet is ramping up scrutiny of all its projects and cutting hiring
Snap Inc. Q3 2022 Earnings
Apple Reports Fourth Quarter Results
Apple (Rumored) Hiring Freeze
Amazon Hiring Freeze
Twitter lays off staff, Musk blames activists for ad revenue drop