Big Tech Collectively Lost $7.4 Trillion in 2022
This year has seen big tech hemorrhage money like never before, forcing massive headline-grabbing job cuts, according to a report from CNBC.
Not a single one of the top 15 tech companies in the United States made a profit in 2022.
Even amongst the tech industry’s "big five" (Amazon, Meta, Alphabet, Apple, and Microsoft), only Google’s parent company Alphabet managed to avoid any layoffs, although there are fears that job losses are on the horizon.
These enormous revenue losses and mass layoffs have forced tech executives to come forward with an apology and admit that they made a mistake.
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