Technology

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Gfycat.com shuts down on September 1 and all Gifs will be taken down - gHacks Tech News (www.ghacks.net)

submitted 1 year ago by withersailor@aussie.zone to c/technology

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[–] SemioticStandard 6 points 1 year ago (1 children)

Now that the free money era is over a lot of companies have had to finally think about making a profit so that they can keep the lights on. This is why there have been tens of thousands laid off in the tech sector in the last year or so.

Ehh I'm not so sure about this part of it, though. Companies have been making record profits.

[–] MariaTacobellina 1 points 1 year ago

Revenue is certainly doing fine among the giants as described in the article. I'm too much of a philistine to interpret the publications those companies put out for shareholders to determine what they're spending all that money on. There's certainly got to be a degree of creative accounting.

You make an excellent point and I think I should also note that there's more to the tech space than the FAANG-type megacorps that don't need VC money.