Facebook’s Metaverse Vision Questioned by Gaming Veteran
- Ex-Nintendo executive Fils-Aime sees industry consolidation
- Epic, smaller companies will instead lead the digital future
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Big techs want to be the government that govern the metaverse/ omniverse so they can collect levies. Smaller Tech companies want to go the “Defi” route so they can keep all the customers’ money.
They still give options and not RSUs?
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Casually chatting with neighborhoods. Apparently, some tech companies are still giving options and RSUs. I also thought every tech companies have transitioned to RSUs.
Author is misusing the term. People dwells onto the price that was used when they originally convert dollar value of the offer to number of stocks. I don’t see ppl complaining when it was the other way around 
I wonder how many companies will feel pressure to give more RSUs or offset with a cash bonus.
Many. My employer is considering giving additional grants too.
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Mark should have startup another company. Not a good idea to use cash from a cash rich company to do aggressive transformations. Learn from Elon Musk. Sell PayPal. Startup TSLA using other people’s money.
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Facebook has frozen hiring for engineers, rescinded offers to new grads and in general seems to have started tightening the belt. Seems to be preparing for a recession and ensuing ad spend cut.
Wow, rescinding offers is crazy. I bet it’ll make it difficult to recruit on campuses in future years. Ford famously did layoffs based on tenure in the 80’s. Once the economy turned, and they wanted to start hiring again they couldn’t. No one wanted to be the least tenured person on a team and be first up for a layoff. They changed to a performance based system, but it hurt hiring for years.
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Meta has been the undisputed paymaster in tech for the last one year while Google was using its prestige to save some money. And Meta surprised everyone with a sudden about turn on recruiting. We’ll see how it goes. Things aren’t looking too rosy for Meta right now.
They’re still a highly profitable company, but the headcount has gotten out of control. Considering how small of teams built IG and WhatsApp before they were acquired, what do facebook’s tens of thousands of employees actually do? It always amazes me how a tiny team can develop a massively successful product, but then the headcount bloat becomes insane. It must take 10,000 engineers to create IG stories :).
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TBH they got big and infamous so had to add headcount for all sorts of ancillary functions to control the chaos caused by their wild success. When small teams create viral hits, large teams have to be hired to deal with the consequences!
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It sucks!
#metalayoff tag on LinkedIn. People are about to start job in a week - they already received company laptop.
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