In 2023, Amazon made $20 billion dollars in profit and just decided to lay off ~1,000 people across its core business, Twitch, and Audible.
In 2023, Google made $70 billion dollars in profit and just decided to lay off several hundred people.
These 2 money-printing machine FAANG companies could have easily retained all of these talented individuals but chose not to. Why is that?
It’s because when it comes to the workers that make these companies succeed vs. the institutional shareholders that profit off that labor, the shareholders win every time.
I’ll be 100% honest: Working for FAANG has a lot of career benefits. But don’t be delusional about their incentives as their massive, publicly traded nature inherently corrupts them.
The goal of these behemoths is to reach the endgame of late-stage capitalism, not provide you with some trusting, awesome work environment.
Believe it or not, there are companies that are set up in a way where they don’t have to needlessly lay off great people in a dystopian show of strength to appease shareholders. To learn how to find those companies, check out our in-depth explainer here.
