Other notable tech names that have announced layoffs in recent months include Clearco, Coinsquare, online furniture seller Article, and Thinkific Labs Inc.
The bump in the road for the industry comes after a long period of growth, expansion and increased demand, which many companies had grown used to. Laura Lenz, a partner at OMERS Ventures who is leading the firm's investment activity in Canada, says the first thing leadership teams need to do right now is look at ways to preserve cash -- whether it's needed or not -- because doing so will help extend a company's viability without the need to raise more funding.This means reducing spending on marketing, discretionary items and activities, and even staff, Lenz explains.
"They want to invest in businesses that have been able to grow at 50 per cent despite this current macroeconomic backdrop," she says. Companies will want to pivot toward a healthy end-market, where their products and other offerings are must-haves rather than nice-to-haves, he adds.
Infinite growth is killing our world !! It can't continue , it means everything will double every 20 years and the earth stays the same size , this can't happen . 3 or 4 billion in profits and expecting more and more every year not enough fresh water to grow food .
Evolve, it’s not hard. Can’t have an I phone 1000, double the price and basically upgrade the camera. Society (the folks that keep the infrastructure running) expects more from the ‘academic’ world for our dollars. It’s been stagnant for a generation.
Stop with the expert bull💩 .