Just a few weeks ago, 2022 workforce reductions impacted at least 92,558 known people, per layoffs.fyi. That same data source now says that the number has grown to 134,739 known people, or a 46% increase.

Put differently, I said the summer was bad. But now, nearly as many people who were laid off in the summer months of June, July and August, were laid off in November (and the month isn’t even over).

Talk about a rough start to November. According to executives and other industry sources, founders may squeeze more layoffs into the next few days ahead of Thanksgiving and the holiday season. All seem to agree that the worst of the worst is ahead of us — and the true extent of layoffs may only materialize in Q1 2023.

I wasn’t entirely wrong in my poorly aged column. I wrote then that we may just be experiencing a reporting delay and that more layoffs may come as company runways dwindle. There are still loads of companies that raised a ton of money over the boom cycle but aren’t producing nearly enough revenue to justify their historical valuations; the late-stage market is full of them.

Here’s why it’s important: The sentencing caps off a long wait to see how Holmes would be held accountable, if at all, for her crimes. Since its launch, the Theranos story has been synonymous with the strengths, and clearly damaging weaknesses, of Silicon Valley hype culture.

Image Credits: Justin Sullivan / Getty Images

Image Credits: Bryce Durbin / TechCrunch

I’m nosy, curious and have a constant fear that I’m missing key comprehension or a hidden angle on a macroeconomic trend. It’s probably why I’m a reporter (and why I’m addicted to Twitter).

Twitter lets me be an eavesdropping, unassuming fly on the wall. That was important when I first re-downloaded it in college and subscribed to get a notification every single time Boston Business Journal tweeted news — and it’s important now as I try to understand what founders think in real time (versus what they want to tell a TechCrunch reporter over Zoom). It helped me get up to speed when I was an intern at the Boston Globe, and it helps me blend in and understand more as a senior reporter at TechCrunch.

Eavesdropping became even more important to me about one week into the pandemic, which happened to be one week into my job at TechCrunch. It became how I found my sources, showing up in the embeds of my stories. It also became how I balanced out my sources, aiming to not just quote the people with the spiciest takes in 180 characters. As an early-career reporter, I feel like Twitter gave me a fighting chance at catching up to all my brilliant colleagues and competitors digesting the news in real time. I mean, I literally saw their thought process every single day.

We all heard that Twitter became our town square during quarantine, but for me, it also became a map.

Image Credits: Bryce Durbin/TechCrunch

In the spirit of smiling, here are some tweets and jokes from the week that made me smile:

Image Credits: Bryce Durbin / TechCrunch

Seen on TechCrunch

Seen on TechCrunch+

Best,

Ok, I take back what I said about tech layoffs by Natasha Mascarenhas originally published on TechCrunch

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