"In some cases, that means consolidating where investments overlap "
Well, I won't be holding my breath in them having just one chat application.
Google issued a heads-up to its staff on Tuesday that it will be slowing down some hiring for the remainder of 2022, thereby adding the ad giant's name to a growing list of companies tapping the brakes after a lengthy COVID-fueled tech boom. The notice came in the form of an internal memo in which Alphabet CEO Sundar Pichai …
Given that in many countries starting own business have become substantially more difficult and tax rules around freelancing make one less competitive than big agencies, there is no more risk for Google, Microsoft and others that the talent can form a start up that will challenge their position.
They no longer have to hire to deprive small companies of good engineers, because small companies are going bankrupt or simply closing.
"Shares of Google parent company Alphabet are down 21 percent this year while year-on-year Q1 2022 [PDF] revenue saw 23 percent growth – a slowdown from the 34 percent year-on-year growth seen in Q1 2021."
Revenues "only" up 23% instead of like last years 34% (pandemic effect), so shares drop 21%. It's madness!