From startup incubators to Silicon Valley icons, why tech keeps shedding so many jobs.

From American public media, this is Marketplace Tech. I'm Lelie. On the show today, Middle Eastern Sovereign Wealth Funds parked a whole lot of money

in Silicon Valley. Saudi Arabia's Public Investment Fund for one spent more

than $31 billion on 49 deals up 33% for the year.

Why does Silicon Valley find money from the Middle East so hard to quit?

Plus, Netflix changes up its business model again. We look at why the

streaming giant sees even more ads in its future. But first, job cuts continue

across the tech landscape, even Tik-Toc with its 225 billion dollar

valuation and 150 million active users in the U.S. alone is letting people go.

For this installment of Marketplace TechBites Week in Review, I was joined by Natasha Moskarenis,

reporter at the information. You know what, an investor said to me the other day,

they were like, you know, I think companies should have like a round of like 3 to 4% layoffs every single year.

This is the new way of doing business, and I do feel like it shows that we still are

cleaning up our overhiring or at least trying to look a little bit more disciplined

entering a weird year so far. Definitely and I was naive enough to think that maybe the last round of layoffs across the sector

we're going to be over at the end of 2023 and turns out I was totally wrong about that. Just this week we are

seeing Microsoft laying off 1900 employees at Activision Blizzard and at Xbox.

Amazon just two weeks ago laid off somewhere on the order of 500 people at

Twitch, the video game streaming service.

Aurora, the self-driving, you know, trucks company.

It's everywhere, IBM.

And you, just this week, broke the story of textures.

...