Spotify’s results are a great example of why we’re seeing tech layoffs. Impressive revenue growth of 18% year over year is dwarfed by costs growth of 44% year over year.
Such gaps in costs versus revenue growth scares shareholders which is why layoffs.
https://www.ft.com/content/f9f7b5cf-7d83-4454-8f5a-61f4187df01b
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@carnage4life I don’t think I’m buying it. That might explain Spotify, which will never be profitable, but it doesn’t explain the majority of layoffs, which are coming from companies with billions of dollars in the bank and billions of dollars of quarterly profits.
