Mic Hirschrich, CEO of Apollo.ai, expects users to feel the staff cuts at Twitter and Facebook’s parent company Meta.
Silicon Valley is boiling. 11,000 Meta jobs and nearly 3,000 Twitter posts will be cut.
Digital Expert Mike Hirschrich speaks of a “multifactor crisis” currently rocking the tech giants. However, the reasons for this vary from company to company.
Meta, the parent company of Facebook, suffers mainly from Apple’s enhanced data protection hardware. Apple has made it possible to turn off “cross-platform” tracking. Meta had previously lived on this to a large extent, one speaks of the $10 billion that the group earned from this area. The Chinese group Tik Tok also competes with Meta.
The massive cuts in staffing are expected to have an impact on users. “If there are savings in infrastructure and security, it could lead to major problems,” Hirschrich says. There will be significant “mindfulness” within the company.
Apple, on the other hand, does very well as a company. This is because the group sells devices and is therefore less dependent on advertising revenue.
However, Hirschrich does not expect Silicon Valley to end. He asserts that “every crisis is an opportunity.” The difficulties in Silicon Valley may also be a signal to European companies not to believe that the “race” against American tech giants is “over” anyway.
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