news Meta to cut more than 11,000 jobs in one of biggest US layoffs this year

There is no "bubble" it's a reaction to inflation, cost increases and a general economic downturn......

Most tech companies are doing the same.......Apple, Oracle etc etc....

In the case of Meta - they are being seriously mismanaged and the nut job that is Elon seriously overpaid for Twitter so I think more problems lie ahead for those 2 companies....

Hi

Zuck has found a way to replace real people with ai people

which means less overhead and more profit.

the real deal is how he rebranded facebook as meta, to erase the bad publicity
then as 'meta', devised a plan to eliminate 11K jobs.

folks should probably go back to reading newspapers and magazines.

imo....

The business of "fact checking" and propaganda is only useful when there are people who don't know what's actually going on, and when nobody believes all that crap anymore that entire business segment becomes dead weight. I'm thinking it was a fact checking bubble. When half of your social media business is paid propaganda and that dries up, you've gotta let some people go. Especially after midterms election season.

Also affected by economic and political factors, of course.