I don’t know who Spike Laurie is, but I don’t trust him.
Hiro Capital partner Spike Laurie believes you can trace the current wave(s) of layoffs to one in particular: Elon Musk cutting 50% of Twitter’s workforce in November 2022.
“[Elon Musk] had figured out from people’s electronic passes that there were more people serving food in the cafeteria than actually there to eat it,” he says. “This was the impetus other business leaders needed in order to start looking carefully at the size of their companies and start making judicious cuts.”
This sounded suspect so I looked it up. The claim was posted to Twitter by Musk himself, completely unsubstantiated, and directly contested by Twitter’s former VP of real estate. If I had to choose between this being the actual impetus for other businesses making judicious cuts or the empty claims of a Musk fanboy, I’m betting fanboy.