Hi there,
What’s pumping, honey bunches of oats?!
How was your week? Can you imagine that the holidays are just around the corner?!!
Did this year fly by or what?
In any case, we still have a number of things to take down in 2022.
“A luta continua; victoria ascerta” which is the Portuguese for “The struggle continues; victory is certain!!!”
Let’s get to today’s business.
LAOFFS: AMAZON + META [FACEBOOK]
The tech scene has been extremely rough and tough these last couple of weeks: Tech giants have been flooding the market with incredible talents that now have limited options to choose from.
More recently, Amazon kicked 10,000 corporate employees to the curb, shortly after Facebook also axed 11,000 of its workforce. Twitter, Microsoft, Snap & a few others have also done their own bidding. Tons of talented people are now facing steep competition as they ‘hustle’ to get into other ‘more stable’ companies.
According to some data sources, about 90,000 jobs have already been lost this year alone. The worst part is that the prediction says the grim is not over yet.
God Abeg O!!!
[God Please]
The hopeful solace is that.. perhaps, even though Tech is contracting, other parts of the economy are still hiring so, maybe they can take on some Tech talents.
Things won’t be tough forever. Whew!
A bit of a contextual backdrop: During the pandemic, bigger tech companies went on overdrive as they expanded rapidly to take advantage of people spending more time online.
We evidently saw a tech boom: Tech share prices soared, boosting confidence and stock-based payouts for workers.
But now, at this inflection point that the Federal Reserve is aggressively raising interest rates to fight inflation, venture capitalists are being stingier with their investments, forcing companies to be nimble and focus more on profitability than growth. Tech giants are feeling the heat: inflation means higher prices cutting into their revenue, therefore forcing them to cut costs.
HIGHER RATES, MAYBE? THE FED
“The policy rate is not yet in a zone that may be considered sufficiently restrictive” to cool down rampant inflation, said James Bullard, president of the Federal Reserve Bank of St. Louis. He also said “this year’s series of interest rate increases “have had only limited effects on observed inflation.”
Even the U.S. stock market had an adverse reaction to this statement because 
this current macroeconomic climate is already tough, as is. The U.S. stock market lost ground this week as investors reacted to remarks. The Dow Jones was flat but the S&P 500 & Nasdaq are both down this week. Nevertheless, the three indexes are still up for the month, given the encouraging inflation report & last week’s “strong” performance.
Of course, relative to the overall economy.
Why should this matter, you might wonder?
Policy rate determined by the Fed pretty much control the interest rate that affects the broader economy… think: the cost of borrowing money throughout the economy.
Tomi: Where is the bottom? 
AD CONTENT? NETFLIX / DISNEY…
The words of the critics: “I’m a little skeptical as to how many people do save a few bucks or are going to be willing to tolerate ads in what I would call long-form entertainment programming.”
https://t.co/EypBa0NLir” / Twitter”/>
Have they met the series of folks sharing passwords? OR just what this economy has become?
While adding commercials to long-form streaming content might change the definition of success for media companies in the long run, it might unlock a new segment of users potentially. Who knows where the chips will fall?
Of course, some people who already pay for the no-ads category might fall to the ads category, thereby reducing the revenues for streaming giants but overall, new users might also enter the market to take advantage of this ‘affordability.’
Netflix has launched. Disney+ is underway for December. Other streaming giants have mentioned that their ad-supported content plans are already in place.
Safe to say it’s the direction of the industry?
What do you think?
Tweet at me: @TomiSuave from @Trovefinance
ELON’S NEW TOY: TWITTER
We aren’t novices to this Elon’s soap opera at this point but a quick summary on where things are:
A wave of Twitter engineers have voluntarily resigned, following all the stringent, thor-hammer-type leadership style that Elon is letting off in the company.
More recently, on Wednesday, Musk sent a company-wide email to inform employees that they should expect “long hours at high intensity” if they wanted to stay, and told the employees that they had until 5 p.m. ET on Thursday to decide.
On Thursday, this heavy-handed ruler, Musk, followed up with a pair of emails that said managers must meet with employees in person once a week or at least monthly, and that managers could be fired for allowing employees to work remotely if those employees do not prove, in his view, to be “excellent” or “exceptional.”
Key: In His View
The sentiments is that entire teams representing critical infrastructure and longstanding institutional knowledge are voluntarily departing Twitter, leaving the company at serious risk. E. B. Things.
As of Friday, Musk called for “anyone who actually writes software” to report to Twitter’s headquarters by Friday afternoon. Elon wants a high-level report of the best code they have worked on in the last six months.
ELON:
Software Developers:
…And there you have it!
It’s a wrap!
What are you waiting for?!?!
Forget not this ministry of yours: Tell a friend to tell a friend to:
Follow us on all social media platforms: @TroveFinance
Read old newsletters below:
It’s gonna be an incredible week ahead!
Let’s go!
…and especially to our beloved African teams who will do us proud at the 2022 World Cup, WE ARE ROOTING FOR YOU!
HAPPY WORLD CUP! 
Your dearest and favorite Stocks Market Gist Partner,
Tomi, From Trove 
