The trend: Collectively, Apple, Microsoft, Amazon, Alphabet, and Meta have lost more than $3 trillion in market value this year, per Bloomberg, and signs point to continued struggles for the sector.
Tech’s troubles beyond the jobs outlook: Heightened scrutiny on Big Tech has pulled at its veneer of resilience and continues to expose greater problems within some of these monolithic companies. One big revelation: Charismatic but mercurial CEOs might not be the ideal leaders to navigate companies through periods of turmoil.
Key takeaways: Big Tech is facing an economic reckoning that continues to reveal various fundamental weaknesses and problems that could become unmanageable, especially at the scale of these companies.
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