Welcome to the Tech Mem Right Home for Monday, January 23rd,

23. I'm Brian McCullough today. More tech layoffs and why I'm

suggesting we might only be in the early innings of this

tech retrenchment. Big Wall Street banks are coming for PayPal and Apple Pay.

Tic-Toc might be putting its thumb on the scales to favor certain content.

Would you pay $42 a month for a chat gp-GPT pro plan?

And how far has Apple Silicon come exactly?

Here's what you missed today in the world of Tech.

More tech layoffs.

Reuters is reporting that Spotify plans to lay off around 6% of its workforce or roughly 600 people.

Also, content head Don Ostroff will be leaving Spotify,

which is interesting since she was the force behind all of their podcasting initiatives these last few years

also Spotify is going to reorganize the engineering and product groups.

Quote, over the last few months we've made a considerable effort to rein in cost, but it simply hasn't been enough, Chief Executive Daniel X said in a blog post announcing the roughly 600 job cuts. I was too ambitious in investing ahead of our revenue growth, he added, echoing a statement

voiced by other tech bosses in recent months.

Spotify's operating expenditure grew at twice the speed of its revenue last year as the audio

streaming company aggressively poured money into its

podcast business which is more attractive for advertisers due to higher

engagement levels and quote. Yeah have you noticed that all of the

announced layoffs these last two weeks use almost exactly the same language,

almost as if the CEO is doing the laying off, have been just cutting and pasting from the same document?

I've said this on Twitter, but I'm willing to bet that half or more

...