Saturday Morning with Jack TameSaturday Morning with Jack Tame

Tech: Disastrous week for big tech in the sharemarket, Musk takes over twitter

View descriptionShare

A disastrous week for big tech 

Meta's, aka Facebook, shares fell off a cliff after posting a second straight quarterly decline. Revenue is down, and spending is off the charts. It's Realty Labs division has lost $9 billion so far this year trying to make the metaverse happen. It warned that Q4 isn't looking much better.  

Alphabet's, aka Google, stocks plunged 9% when they posted their earnings which showed year-over-year revenues sliding. They’re going to review every project the company has in an effort to cut cost.  

 

Elon's now in charge at Twitter  

The former CEO and CFO are out - Elon is now in charge. He tweeted the "bird is freed". Twitter has been delisted from the stock exchange as the $44 billion deal closed overnight. Ahead of that, he made an appearance at HQ, and even brought some Tesla engineers to spend time reviewing Twitter code. 

So what's next? We'll see. Musk has said that he's willing to reverse lifetime bans on people (read: Donald Trump). He wants to cut costs - he's looking at forcing employees to return to the office hoping it'll cause some to quit. He says they'll be looking at new ways to make money. 

LISTEN ABOVE

  • Facebook
  • X (Twitter)
  • WhatsApp
  • Email
  • Download

In 1 playlist(s)

  1. Saturday Morning with Jack Tame

    2,180 clip(s)

Saturday Morning with Jack Tame

Jack Tame’s crisp perspective, style and enthusiasm makes for refreshing and entertaining Saturday m 
Social links
Follow podcast
Recent clips
Browse 2,182 clip(s)