to cut costs, and"spend every dollar as if it was your last." The firm delivered a similar message to startups as the dot.com bubble burst in 2000.
"We saw a big implosion. It started with layoffs, and then it cascaded down into the economy … and that's what it feels like right now, that we're on the precipice of that.""Big Tech taking a bit of a breather after a massive ramp up in terms of personnel over the past couple of years is a healthy step," said Dan Morgan, senior portfolio manager at Synovus Trust Company.
Thank the Fed for the upcoming bloodbath
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Stocks Plunge As Interest Rates Rise; Tech, Showbiz Shares Pummeled, Outlier Twitter Posts GainsMost stocks and sectors closed down Thursday in a massive and broad market selloff that thrashed media and tech shares from big showbiz conglomerates to Amazon, Apple and Meta to Roku, Endeavor, Cinemark and the New York Times We'll find out what record $800 billion margin debt does right about 4pm today... Margin calls! Ain't they a bitch? NASDAQ DowJones SPX MarginCall bidenflation Powell FederalReserve inflation Biden did that! It's offical BidenWorstPresidentEver It’s just depressing watching the market 😩
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Media, Tech Stocks Skid as U.S. Markets Suffer Worst Drop So Far This YearU.S. stocks slumped Thursday in the financial markets’ biggest meltdown so far this year, with tech companies taking a harder hit than the media sector in a dramatic reversal of the previous …
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