Happy Monday! Me again. This week’s Biz Doc 411 is ready for your inspection!
On Friday the markets cheered the jobs report. OK fine… so help me understand these fun stats:
1. Tech layoffs jump even higher.
In November the number of layoffs off in tech was as many as were let go in June, July and August combined. Think about that. The total tech sector layoffs in 2022 is now approx. 88,000 (per Crunchbase). In the background VCs are saying any company that has a proven a business model, meaning actually selling something and making a profit, (what a concept!) are likely to be fine but those that (A) have not proven their business model, (B) still have a significant monthly cast burn despite some nascent success or (C) depend on vanity stats, are very likely going to see cuts. In this context, “very likely” is like asking, “will the sun rise tomorrow?”