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Tux Machines
Posted by Roy Schestowitz on Jul 21, 2023,
updated Jul 21, 2023
> We expected some people to try it out and leave but this level of decline is higher than we thought it would be after just a week. I would argue that if the Threads experience was compelling, the decline would not have been as bad. It is clear that Threads was rushed to take advantage of some PR troubles Twitter was/is facing.
> But it also means that there's probably a lot more pain in the pipeline for unprofitable software startups, almost all of which are now SaaS, which raised money in the late go-go days. If a company raised a wallop of cash in 2021, they're soon coming up on that 18-month anniversary when it's supposed to be all spent. Now that runway has likely been extended by early cost-cutting, but those cuts won't last forever, and when fresh capital is inevitable needed, it'll be murder on the cap tables. Potential victims here include ClickUp, Airtable, and Notion. All who raised hundreds of millions at the peak of the market at insane valuations that'll be extremely difficult to live up to.
> In the midst of Microsoft's impending takeover of Activision Blizzard, the gaming industry is abuzz with news of significant changes within the company's esports division. Recently, approximately 50 employees were laid off from the division, raising concerns about the future of its beloved Overwatch League (OWL) and its city-based franchise system.
> Microsoft has reportedly reduced its workforce further by 1,000 over the past week, mostly in sales and customer services teams.
UPDATE
> Microsoft has additionally diminished the worker headcount by 1,000 throughout the last week. A report guaranteed that the most recent Microsoft layoffs are notwithstanding the 10,000 Job cuts that the organization declared recently. Last week, the tech goliath affirmed that it’s dispensing with unexpected positions.
> Microsoft is yet to seal the deal to take over Call of Duty maker Activision which was announced in early 2022. According to a report by Verge, the gaming studio has reportedly laid off around 50 employees from its esports division amid the acquisition turmoil. The report also mentioned that the sacked employees have already been informed about the layoffs. As per the report, Activision Blizzard is also planning major changes to the Overwatch League (OWL).The franchise’s city-based tournament format may also come to an end.
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