Silicon Valley once saw tactics like layoffs and stock buybacks as the kind of shameless 'short-termism' that killed innovation. Today, not so much.
The easy money era ended, when the Fed started hiking interest rates in response to runaway inflation.and revealed at least some of the tech sector's success to have been the result of a decade of rock-bottom interest rate policies, rather than the inherent business genius of tech founders and executives.Investors and Wall Street analysts felt empowered to start questioning some ofpreviously impervious to calls for action to make share prices rise.
"We've entered somewhat of a phase change ... we just grew so quickly for the first 18 years," Meta's Mark Zuckerberg said last month. "It's very hard to really crank on efficiency while you're growing that quickly ... we're in a different environment now."
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