On with Kara Swisher Has the Silicon Valley Bubble Burst? A Conversation w Jessica Lessin & William Cohan
Jan 26, 2023
Jessica Lessin, founder of The Information, and William Cohan, investment banker and founding partner at Puck News, delve into the tumultuous state of the tech industry. They analyze the dramatic stock price falls and recent recoveries of major players like Meta and Netflix. The duo discusses the potential for a shift in tech leadership and the impact of layoffs on innovation. Cohan shares insights on Wall Street's response, while Lessin proposes that it's time for a change at the top, highlighting the need for adaptability in this new economic landscape.
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Tech Downturn
- Tech stocks experienced a significant drop in 2022, with Meta's stock falling by 64%.
- Kara Swisher and Nayeema Raza discuss the downturn, noting that similar downturns have occurred in the past.
Tech's Changing Landscape
- The tech industry downturn isn't chaotic; it's simply changing, according to Kara Swisher.
- She emphasizes that previous downturns were far worse, particularly in 2001-2002 and 2008.
Perks of Tech Jobs
- Nayeema Raza recalls the generous perks offered by tech companies, like Stripe, between 2012 and 2014.
- These included dry cleaning services and all-day free buffets, highlighting a 'cushy' work environment.