As Amazon axes 18,000 roles and Tesla loses 65% of its value, we examine the causes of the glitch hitting Silicon Valley
Amazon announced 18,000 job cuts, Apple’s share price fell below $2tn (£1.7tn) and there was more bad news from Tesla: it has been another tough week for big US tech firms.
But this has not been a one-off. The ongoing drama at Twitter since its takeover by Elon Musk in October has taken place against a backdrop of global economic uncertainty, retrenchment from aggressive expansion plans and China’s disruptive transition from Covid lockdowns to rocketing case numbers as restrictions ease.
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Originally posted in the guardian.
