#MetaPlansLayoffs ! Alert in Big Tech! šØ Meta plans massive layoffs of up to 20% of its workforce (~16,000 jobs) to fund its race for AI. š»š¤
Impact on Crypto šš°
ā¢ AI costs trigger cuts, freeing talent towards decentralized AI + Crypto projects. š
ā¢ Correlation META-BTC: Is it a signal of tech 'cleaning' that boosts flows to BTC/ETH? Possible capital rotation. š[blockchain +1]
ā¢ There have already been 1,500 layoffs in Reality Labs (metaverse), prioritizing AI over VR. Meta has ~79k total employees. š„#MetaPlansLayoffs #crypto #IA