Don’t be a shill for big tech over elastic in this fight. AWS was using elastic’s trademark and aggressive advertising to push their managed elasticsearch. They left elastic with no economically logical choice. MongoDB and countless others also made similar choices.
AWS was super greedy and honestly I’m glad elastic even survived their aggressive tactics.
I think it's more likely to cause a lost Decade of people not going into CS or tech due to lack of entry-level jobs. Maybe next time there's a boom and the pendulum of the power dynamic between management and labor swings more towards the workers, tech workers will unionize or organize better. I think overall it will benefit the industry because these boom and bust cycles for employment are just not healthy.
It sounds unusual for a seed-stage company (I assume that’s what you mean) to seek funding from private equity. Did the company already have significant revenue and profitability? Why did the founder go for private equity rather than VC.. was the founder basically looking to sell/exit at that point?
The Age of Inhumanity... AI mimicry of human patterns devalues our very humanity. Without wise leadership, which we clearly lack, this upcoming Age will be profoundly unstable.
This risk of losing business in the EU due to regulations around data is also acknowledged by google in their recent filing.. this isn’t specific to Meta despite all the articles that have popped up about it… https://twitter.com/SMalikjo/status/1490938883760033792?s=20...
Their Q4 earnings had some conservative projections and higher expenses due to investments in building out their VR teams, and this was enough of a catalyst that the short sellers were able to create a panic.
Fine to hate the company and management, and their politics, but following the money, this seems to be a wildly successful effort to manipulate sentiment and cause retail investors to panic and benefit short sellers in the market. There’s huge money to be made by hedge funds in shorting Meta on the way down, and then buying it again on the way up.
Or maybe they’re really going down to $0 … which is more likely?
AWS was super greedy and honestly I’m glad elastic even survived their aggressive tactics.