The tech world is crumbling right before our eyes.
Meta revenues are down 50% and they're laying off 11,000 workers.
Google revenues are down significantly.
Amazon is cutting 10,000 jobs.
Stripe, Salesforce, Microsoft, and almost every tech firm is laying people off and cutting budgets.
The crypto world is reeling from the bankruptcy of FTX where people lost billions of dollars overnight.
Twitter cut 50% of its staff, 90% of their contractors and ad revenues have plummeted as advertisers wait to see what happens.
Is the tech bubble about to burst after many years of incredible profits?
Some of you may remember the Dot Com Bust of 2000-2001.
I was a casualty as I watched my 20-year tech career evaporate into thin air.
Is this Dot Com Bust 2.0?
In the 1990s, the internet was new and venture capital firms threw billions at tech firms so they would miss out.
Lots of great ideas but very few companies actually turned a profit.
One of my clients at the time was a venture capital firm who created a wall of shame in their office.
It was a shrine of companies they invested in who never turned a profit.
I remember going into the offices of dot com casualties to gather their computers to resell them for pennies on the dollar.
These offices were amazing.
You could tell these companies spared no expense.
They also spent a fortune on elaborate parties and free food to keep their staff happy.
They burned through millions of dollars of venture capital cash but never earned a penny in profit.
It was far cry from Steve Jobs and Steve Wozniak starting Apple in a Silicon Valley garage.
Today, we're seeing very profitable companies scale back as the 12-year economic run slows.
Most of these companies will be fine.
Many will not survive because the internet and social media are changing, and they aren't adapting to the new normal.
The pandemic changed our online behavior.
We don't act the same way online as we did in 2019.
Our behavior on LinkedIn has changed too and people are not adapting.
On December 6th at 10 AM Pacific/1 PM Eastern, I'm doing a new 90-minute masterclass
Why You Don't Need More Leads on LinkedIn
I have simple (but essential) LinkedIn strategies you can implement ASAP that’ll help you build your brand’s authority—and strengthen your relationship with your audience.
In just 90 minutes, I'll show you what you need to know to hit the ground running in 2023.
We'll also implement what you learn during the masterclass.
>>> Register here
Mark your calendars and invite your colleagues.