Market Report: THE RISE OF UNEMPLOYMENT & TWITTER'S ISSUES
Market Mondays
EYL Network
5.0 • 4.1K Ratings
🗓️ 26 November 2022
⏱️ 12 minutes
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Summary
In this Market Report we talked about unemployment and Elon Musk's issues with Twitter. #elonmusk #earnyourleisure #twitter
Link to Full Episode: https://youtu.be/RzmI3vdMeAM
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Transcript
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| 0:00.0 | unemployment. I was just going to think that's another number that was. So yeah, 21,000 |
| 0:05.7 | tech jobs have been lost so far this month in November and the month to start it. |
| 0:11.9 | Amazon now is going to be laying off 10,000 people. So the tech is laying off a bunch of people. |
| 0:17.1 | Twitter, Facebook, Twitter meta, Amazon. I got some, you want the numbers? Amazon 10,000, |
| 0:23.1 | meta, 11,000 Twitter. The number was at 3700 but that changed. Disney had a hiring freeze. |
| 0:32.8 | Yeah. Sales for us another obviously in tech, a thousand straight by thousand coin base over |
| 0:37.3 | a thousand shop. Stripe is interesting over a thousand Microsoft over a thousand snap over a |
| 0:42.3 | thousand. That's Google. That's Google. No shit. Google hasn't yet Apple. |
| 0:45.6 | And I'm hiring freeze. Yeah, which obviously we're not laying off people but we're not hiring anyone. |
| 0:51.2 | Yeah. Outside R&D. So the tech companies are interesting because they're laying off the most people |
| 0:57.3 | and overall the job market is still relatively decent. We haven't seen mass layoffs in other |
| 1:03.7 | sectors but tech is a head of the curve when it comes to that and one of the reasons is because |
| 1:09.1 | of inflation and interest rates and also they've had very lavish spending habits. |
| 1:15.6 | We look at tech offices. No matter where the office is. I agree. They have day care centers in there. |
| 1:22.4 | Well, they'll call amenities. Yeah. I remember I went to LinkedIn's office years ago before we started |
| 1:28.0 | on Elysia and it was amazing in the city and they told me the reason why it's so amazing is |
| 1:34.4 | because they don't want people to leave. They come at 8 o'clock and leave at 8 o'clock. |
| 1:38.7 | Yeah. So they keep everything that you need there. Of course with that is expense. They've |
| 1:45.2 | paid pretty handsome salaries to the employees. They spend a lot of money on marketing and now a lot |
| 1:51.8 | of those tech companies are you know, filling the crunch. So they're the first ones to start to lay |
| 1:57.2 | lay people off. Yeah. So the the fear is that they are the precursor to the larger economy and now |
| 2:08.0 | you're going to start to see other sectors perhaps in the next coming months start to follow suit |
... |
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