This Week in Startups Amazon to lay off 10K employees, FTX saga update, Shopify's reverse AR platform & more | E1612
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Nov 15, 2022 Amazon is making headlines with plans to cut 10,000 jobs, prompting a deep dive into the unique recession dynamics affecting startups. The FTX saga continues to unfold, revealing intriguing corporate culture insights. Mobile gaming is under scrutiny, especially with shifting revenue models. Meanwhile, Shopify is debuting a reverse AR platform that could transform online shopping. Plus, a startup is innovating in the med spa sector, making treatments more accessible while raising questions about beauty standards.
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Amazon's Layoff Strategy
- Amazon's 3% layoff is small and may signal the start of austerity measures, not a significant financial impact.
- This layoff could indicate a shift towards prioritizing short-term profits over long-term growth.
Adapting to Market Changes
- Founders should adapt to the changing market by prioritizing profitability and cutting unnecessary spending.
- Be prepared for potential salary reductions in the current job market.
Valuable Skills for Founders
- Individuals facing layoffs should consider learning in-demand skills like no-code development, growth hacking, or product management.
- These skills can increase your attractiveness to investors and improve your career prospects.