Tech Layoffs Starting to Hit Silicon Valley Hard

Initialized Capital Founder and Partner Garry Tan joins Bloomberg Technology's Emily Chang to discuss the state of VC and the outlook for the tech markets and job landscape. He also discusses his future priorities when he becomes the President and CEO of Y Combinator in early 2023.
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[DheeraVenkatraman]

The main thing that is difficult about Silicon Valley right now is that the gap in cash compensation between startups and big tech is *extremely* large, and living costs (healthcare and rent, especially) are following the trends of big tech. You can't pay a hospital or landlord with your startup equity.

[geirarnesen]

Garry Tan - sorry Amigo, but you are disconnected from the real world.

[avayu]

Take a breather people and also enjoy the holidays. I am also assuming that since tech folks are pretty smart, they should have diversified investments for raining days….perceived and real.

[weho_brian]

the layoffs in meta has nothing to do with the tech slow and has everything to do with the trash company/product that meta has become

[ecor]

Good riddance, now they can leave the bay area and we can heal from the techie damages

[mikewright]

I have been in tech for a couple decades. One thing I love about this industry is that for a skilled software engineer if you can actually code, you'll never starve. I know a lot of people like "big tech" because of the nature of the work, possible stock options, prestige, etc. but many of these companies are always likely to be more volatile. There is a LOT of very interesting work going on outside of Big Tech throughout corporate America. I personally have no interest in working for any "social media" company and have enjoyed pretty good stability working for stable, established companies over the years.

[eliemackay]

I really enjoyed this video and you did a nice job but I just received the profits and payout i made from my stock and cryptocurrency trading today. All thanks and glory be to my coach for showing me the secret on how traders make huge profits and consistent withdrawals from the stock and cryptocurrency markets without losing any trade.

[davidpachecogarcia]

What is the metaverse solving? It’s a solution without a problem. At least fb so what has a solution to “communication.”

[shaqisumari]

Move to South East Asia, new vibrant tech hub

[noahcriss]

Strange enough, I don’t feel he believes what he says

[markyes]

Meta means death in the Latin lgnguage. How appropriate.

[shortmashins]

Food, energy, and healthcare is where thr jobs are

[jivepatrol]

All the best to the people that lost jobs at META and other tech companies. It's a boom/bust economy. The work at home push made people a bit soft but the layoffs will now motivate people to refocus on their skills, output and excellence. Freud said the fear of failure is the highest motivator.... I agree.

[minionmememindset]

Tech has basically been stagnant for a decade. There’s only so much juice in sending people their homegrown world’s wackiest videos. In the end it turns out you can’t monetise this for much and the relative value benchmarks implode.

[StiltFactory]

"Dust yourself off..and we're going to build the future" -GT

[sameagletheregal]

San Franpsycho is a dump you superfreak.

[FlavorTrends]

cause by one stupid or stubborn leader killing all the talents and letting this flow to the other side of the red world, the CEO and those heads should take the lead to layoff, or YOU ALL ARE FIRED

[webdeuce]

This boy will grow up very very quickly in next few years ….. 😂

[ericB]

This tan man must not become pale. Our friend must never use sun block. Our friend here is immortal. Praise his tan at once.

[careerzone_]

Are Tech Companies really laying off based on true needs for restructuring or just to tag along with others???