Spotify layoff - 17% workforce
Spotify is late to the party, but they are letting go 17% which is huge compared to others in one go. be careful with similar type of industry. pocket fm, Kuku fm perhaps?
Talking product sense with Ridhi
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17% is huge, especially this late in the doom cycle
It feels like Spotify must be losing market share heavily against Apple Music, YT Music, etc.
The bundling of different subscriptions always wins over just separate standalone subscriptions
People spend beyond their means for app subscriptions. Consumers in US don't have a lot if disposable to spare. wars between well established players has begun. I want to see how long Starbucks holds as its a completely unnecessary expense.
For some Starbucks is a necessity.
I agree it's a very unnecessary expense, but people still wouldn't mind paying for it, especially if it has become a habit.
Everyone should be prepared to see layoffs across the tech industry due to application of AI. The most impacted function was bound to be human coders, as individual coders become 10x+ productive due to AI, and more so expected in future versions of GPT and Gemini.
Apart from layoffs which is harder to execute, expect to see new hirings in coding continue to decline. It might take some years to see the broad impact, but it'll happen because of huge reduction in operating costs.
Lol
lol lol lol
2024 is likely to be a very slow year.
They aren't late. They have already done 2 round of layoffs this year AFAIK.
Source Spotify announces layoffs, CEO says 17 per cent employees to go immediately http://dhunt.in/R6Tly
By India Today via Dailyhunt
Is this Spotify in India? Or centrally?
And also i have a question whether it is the engineering wing, management wing or is it the content creation wing. On Twitter it looks as if it is the content creation wing.
Not the amazing 2023 Wrapped one would have thought of :|
They should learn from Netflix and make original content their moat. The labels have too much power and they don’t make enough money from music streaming. With shorts they are also losing to YT in the podcast game. Creators post the full podcast + clips on one platform with ease.
