• News
    • Stocks
    • Banks and Finance
    • Companies
    • Crypto
    • Forex
  • Videos
  • Articles
    • Forex CRM
    • Crypto Payments
    • Trading
    • Crypto Exchange Business
    • Forex Business
    • Fintech
    • Liquidity
    • FinTech Awards
  • Liquidity Providers List
  • Crypto Payment Providers

Dark Theme

2022s Big Tech’s $4.5 Trillion Massacre

Dec 29, 2022

2022s Big Tech’s $4.5 Trillion Massacre

It's a massacre unlike anything seen in technology since the internet bubble burst in 2000.Various factors can be used to assess this tragedy. The individual fortunes at stake are one set.

Elon Musk and Jeff Bezos, CEOs of Tesla and Amazon, respectively, led the ranks of the world's richest men at the end of 2021 and the beginning of 2022.

The Bloomberg Billionaires Index assessed Musk's net worth at $270 billion and Bezos's at $192.3 billion. Musk is now second, and Bezos is fifth, a year later. Bezos' fortune is now worth $106 billion, a drop of $86.3 billion in a year. Musk's net wealth fell by $140 billion within the same period to $130 billion.

Bernard Arnault, chairman, and CEO of luxury goods specialist LVMH Moet Hennessy, now has the largest wealth, estimated at $159 billion.

Bezos has a relationship with famed investor Warren Buffett. He trails Indian businessman Gautam Adani ($116 billion) and Microsoft co-founder Bill Gates ($109 billion).

The tech titans might find comfort in the fact that they still control six of the top ten spots, but their stranglehold is no longer what it was a year ago. Mark Zuckerberg, CEO of the social media behemoth Meta Platforms META, was booted out of the top 20. His net wealth has fallen from $80.7 billion to $44.8 billion.

Massive Cuts

Typically, tech, a growing industry, recruits and attracts people. However, by 2022, technology had shed massive amounts of talent. Massive cuts in perks, jobs, and outlays have become the norm in Silicon Valley and other tech hotspots.

Meta, formerly known as Facebook, has laid off employees for the first time since its inception in 2004. In early November, more than 11,000 people, or 13% of the company's workforce, were let go.

In a blog post at the time, Zuckerberg explained to the staff that the macroeconomic slump, increasing competition, and ad signal loss had resulted in significantly lower income than he had anticipated. He accepts responsibility for his getting this incorrectly. In his words, they (he and his firm) need to become more capital efficient in this new environment.

The billionaire also stated that he and his staff reduced expenditures throughout their organization, including decreasing budget and perks and shrinking the real estate footprint. Additionally they are rearranging teams in order to boost their efficiency.

Amazon, the e-commerce and cloud computing behemoth, also reduced its employees. It had hired aggressively during the epidemic as global business migrated online because of societal limitations aimed at preventing the spread of covid-19. The group's cash cow, the AWS cloud segment, has not been spared by the new austerity philosophy.

Amazon, the e-commerce and cloud computing behemoth, also reduced its employees. It had hired aggressively during the epidemic as global business migrated online because of societal limitations aimed at preventing the spread of covid-19. The group's cash cow, the AWS cloud segment, has not been spared by the new austerity philosophy.

Hard 2022

"Unfortunately, I was impacted by today's layoff with 10,000 other Amazonians. It is super hard for all of us, and I am still trying to navigate through this while constrained by the timeline of being on a #visa," Shivani Parate posted on LinkedIn in mid-November. She worked as a software development engineer at Amazon.

Apple, Microsoft, Alphabet, Lyft, Shopify, Stripe, Coinbase, Gemini, and Tesla: The anxiety of losing a job has returned.

For many years, that sensation had vanished as daily life became increasingly dependent on technology.

However, the reopening of the economy, Russia's conflict in Ukraine, Europe's energy crisis, and inflation, which is at its highest level in more than 40 years, have changed the scene.

Central banks worldwide have discovered a single solution to the relentless rise in the cost of goods and services: aggressive interest rate hikes.

For example, interest rates in the United States have not been this high since 2008. During the pandemic, the Federal Reserve raised the benchmark rate from ground zero to 4.25% to 4.5%.

As a result, higher interest rates limit growing companies' ability to invest in existing and future projects.

Stock Market Disaster

In an apparent attempt to explain Tesla's stock market disaster, Musk recently stated that macroeconomic conditions are difficult: energy in Europe, real estate in China, and insane Fed rates in the United States.

Overall, the stock market has suffered a similar decline: Apple, Microsoft, Alphabet, Amazon, Tesla, and Meta, six of the world's ten largest businesses by market capitalization, have lost more than $4.5 trillion in value this year.

In detail, Tesla's market value is down nearly $800 billion, and Amazon's market value is down nearly $900 billion. Apple's market value is down nearly $760 billion, Alphabet's market value is down $748 billion, Microsoft's market value is down $740 billion, and Meta's market value is down nearly $600 billion.

As a result, Tesla and Meta were removed from the top ten list of the world's largest corporations. Amazon has exited the trillion-dollar club.

What 2023 Had Planned for Us? It's Difficult to Predict.

Consumers prefer to spend more on IT products and services when things are going well. However, when the economy deteriorates, people become more cautious, prioritizing vital purchases, frequently at the detriment of technology.

Many economists and business leaders predict a recession in 2023, making it difficult to forecast technology's future.

This might have a negative impact on consumer spending. However, investors frequently opt to reward firms that dramatically reduce expenses. Meta's shares have risen nearly 16% since it announced employment layoffs on November 9. So let’s see what we will have next.

Subscribe Our Newsletter

Some U.S. Companies Depart Hong Kong. There Are Worries Over Politics And The Pandemic
Some U.S. Companies Depart Hong Kong. There Are Worries Over Politics And The Pandemic

At the same time, the number of mainland Chinese enterprises, who were long minor participants in the financial hub's commercial landscape, has risen to almost equal that of the United States (252) and is set to exceed businesses in 2022.

Companies
A New Scandal Threatens a Large Fine for Wells Fargo

Alexander

A New Scandal Threatens a Large Fine for Wells Fargo

The bank is under investigation, and the verdict can have more than just financial implications.

Companies
Oliver

Pre-execution vs Post-execution: What’s the Difference?
In this article, we will take a look at the following processes that are an inevitable part of trading on financial markets: First, we will discuss what trade execution is and how it works.

discover
What is a Liquidity Provider?

Liquidity Provider

What is a Liquidity Provider?

Let's find out what a liquidity provider is and what to consider when choosing a reliable liquidity provider.

Liquidity

Contact Us

Contact the Liquidity Provider
for any questions and advertising inquiries b2broker

    Please fill out this contact form to get in touch with us

    / 3000

    By clicking “Get in touch” button, you agree to the privacy policy

    Milena

    What is Data Analytics? Techniques, Tools, Methodology, and More

    https://liquidity-provider.com/app/uploads/2023/05/26.05-800x540.jpg

    Tamta

    What is Data Analytics? Techniques, Tools, Methodology, and More

    https://liquidity-provider.com/app/uploads/2023/05/cover-6-800x540.jpg

    Tamta

    Bitcoin Halving is Coming: What Does it Mean for the Crypto Market?

    https://liquidity-provider.com/app/uploads/2023/05/cover-4-800x540.jpg

    Tamta

    Crypto Token Supply From A to Z

    https://liquidity-provider.com/app/uploads/2023/05/cover-3-800x540.jpg

    Tamta

    What Is ChatGPT, And How Can You Use It?

    https://liquidity-provider.com/app/uploads/2023/05/cover-2-800x540.jpg

    Anton

    Trading on Autopilot: The Rise of Crypto Trading Bots

    https://liquidity-provider.com/app/uploads/2023/05/cover-1-800x540.jpg

    Tamta

    Crypto Investing vs. Crypto Trading: What’s The Difference?

    https://liquidity-provider.com/app/uploads/2023/04/cover-5-800x540.jpg

    Tamta

    Understanding Indexed Universal Life Insurance (IUL)

    https://liquidity-provider.com/app/uploads/2023/04/cover-4-800x540.jpg

    Tamta

    Best Investment Strategies For Beginners

    https://liquidity-provider.com/app/uploads/2023/04/image1-800x540.jpg

    Tamta

    Understanding Perpetual Futures: How Do They Work?

    https://liquidity-provider.com/app/uploads/2023/04/cover-3-800x540.jpg

    Tamta

    What Is A Bitcoin Stock-To-Flow Model? Beginner’s Guide

    https://liquidity-provider.com/app/uploads/2023/04/cover-2-800x540.jpg

    Tamta

    Best Decentralized Crypto Exchanges In 2023

    https://liquidity-provider.com/app/uploads/2023/04/cover-1-800x540.jpg

    Tatma

    Best High-Yield Savings Accounts For March 2023

    https://liquidity-provider.com/app/uploads/2023/04/cover-800x540.jpg

    Tamta

    Crypto Trading For Beginners

    https://liquidity-provider.com/app/uploads/2023/03/cover-8-800x540.jpg

    Tamta

    How To Make Money With Cryptocurrency

    https://liquidity-provider.com/app/uploads/2023/03/cover-7-800x540.jpg

    Tamta

    What Is A Candlestick Chart?

    https://liquidity-provider.com/app/uploads/2023/03/cover-6-800x540.jpg

    Constantine

    White Label Forex Software — Ultimate Guide on How to Choose The Best Industry Solution

    https://liquidity-provider.com/app/uploads/2023/03/cover-3-300x203.jpg

    Tamta

    Forex Trading: A Beginner’s Guide

    https://liquidity-provider.com/app/uploads/2023/03/cover-2-300x203.jpg

    Tamta

    How to Create a Cryptocurrency

    https://liquidity-provider.com/app/uploads/2023/03/cover-1-1-300x203.jpg

    Tamta

    Top Ten Richest People In The World, 2023

    https://liquidity-provider.com/app/uploads/2023/03/cover-4-1-300x203.jpg

    Constantine

    What’s at Stake? Here’s How to Avoid Scam Tokens

    https://liquidity-provider.com/app/uploads/2023/03/cover-5-300x203.jpg

    Constantine

    Investing in Currencies That Are More Valuable Than the American Dollar

    https://liquidity-provider.com/app/uploads/2023/02/cover-2-300x203.jpg

    Alexander

    5 Best Forex CRM Solutions for 2023

    https://liquidity-provider.com/app/uploads/2023/02/cover-300x203.jpg

    Alexander

    Full Bitcoin Price History: From 2009 to 2022

    https://liquidity-provider.com/app/uploads/2023/01/cover-11-800x540.png
    • News
      • Stocks
      • Banks and Finance
      • Companies
      • Crypto
      • Forex
    • Articles
      • Forex CRM
      • Crypto Payments
      • Trading
      • Crypto Exchange Business
      • Forex Business
      • Fintech
      • Liquidity
      • FinTech Awards
    • More
      • Videos
      • Liquidity Providers List
      • Crypto Payment Providers
    [email protected]

    © 2023 Liquidity Provider. All Rights Reserved

    Privacy Policy Cookie Policy