Tech CEOs screwed up

“But in many instances, the real source of concern at these companies comes down to boneheaded decisions made by CEOs — whether it’s Mark Zuckerberg at the company formerly known as Facebook, who authorized a hiring binge over the pandemic and invested billions of dollars into his metaverse folly before having to cut 11,000 jobs, or Tobi Lütke at Shopify, who laid off 1,000 people based on a bet on the future of e-commerce that “didn’t pay off.””

I've watched the increasing number of layoffs and really wondered who it is the executives are trying to make happy. Layoffs cost a lot and they usually don't help in the ways that we think, in fact, they usually hurt a company and the workers left behind, for quite some time after it happens. And yet, and yet they are happening a lot right now. It seems this isn't about what's best for the company but maybe about what's best for the investors, or possibly it's a show for the investors. Either way, it's quite sad.