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Global economic instability will affect tech sector
The technical definition of a recession involves a fall in gross domestic product (GDP) over two consecutive quarters and many US business leaders are now predicting recession, seemingly due to the sharp decline in equity prices. The fact is, if business leaders really believe a recession is imminent, perhaps they will cut back on investment spending in a way that suppresses overall economic activity. Psychology matters.
Elon Musk is even more pessimistic than most economists and Wall Street experts. The Tesla CEO said in a May 16 Twitter post the U.S. is probably already in a recession that will last anywhere from 12-to-18 months. There is fear of a recession growing, macroeconomic factors "will affect the tech sector," said Alphabet and Google CEO Sundar Pichai. Google and other major tech players in the U.S. have continued to grow, due to COVID-19 pandemic. However, supply chain disruptions have cast a shadow over their business and their stock prices have dropped sharply since the start of the year owing to the Russia-Ukraine war, China lockdowns, high inflation and interest rate hikes, resulting in Big Tech stocks nose-diving. Alphabet's stocks are down by 22 per cent this year, as tech companies are battered by the worldwide slump in the markets. "Google definitely sees uncertainty ahead, like everyone else," Pichai was quoted as saying earlier this month. Snap, the parent company of Snapchat, is also slowing down on hiring this year. Pichai also pointed to the Russian invasion of Ukraine and monetary tightening by central banks around the world as concerns. "Economies tend to have cycles, and the tech industry tends to have more volatile cycles," he said, noting that the industry was bound to be affected somewhat by political and economic instability.
As business conditions worsen, Netflix has announced layoffs and Facebook parent Meta revealed plans to curb investment. Another concern is the acceleratingBy VARINDIA| 207 views
Sonam Kapoor Looks Stylish & Elegant at The Versace Luxury Project Launch
Check Out: Sonam Kapoor Looks Stylish & Elegant at The Versace Luxury Project Launch
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Technical Session V, Q&A
Global Summit 2020 "Mission 5 Trillion – CMA as a Cryogenic Force"
Watch Technical Session V, Q&A With HD QualityBy ICMAI| 902249 views
Launch of Gujarat Election Campaign in Ahmedabad
Launch of Gujarat Election Campaign in Ahmedabad.
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Launch of Gujarat Election Campaign in AhmedabadBy Indian National Congress| 173974 views
NTPC Empowering through Self Employment Opportunities (Updated Version, 11.10.2019)
NTPC is the largest power generating company of India that also works towards enhancing and bringing qualitative changes in the communities around its projects. One of the key focus areas by which NTPC is bringing change in nearby communities is empowering women by providing them training in various areas for self employment .
This is story of Sridevi from Telangana- her transformation from a diligent housewife to a successful entrepreneur.
A success story of empowerment with help of NTPC’s CSR initiative.
Watch NTPC Empowering through Self Employment Opportunities (Updated Version, 11.10.2019) With HD QualityBy NTPC Limited| 7194577 views
राष्ट्रपति द्रौपदी मुर्मू ने पेपर लीक को लेकर क्या कहा? देखिये वीडियो
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By NewsFirst.TV| 12702 views
Who do you predict will be the leading run-scorer in the T20 World Cup 2024?
Who do you predict will be the leading run-scorer in the T20 World Cup 2024?
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Who do you predict will be the leading run-scorer in the T20 World Cup 2024?By CricTracker| 12961 views
"Nishant forced me to go to Bigg Boss 18" - Nyra Banerjee #shorts #biggboss18
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"Nishant forced me to go to Bigg Boss 18" - Nyra Banerjee #shorts #biggboss18By Bollywood Bubble| 3489 views
India observes Independence Day with patriotic fervour
Prime Minister Narendra Modi
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India observes Independence Day with patriotic fervourBy PMOfficeIndia| 258008 views
Poulomi Das Eviction Explosive Interview - Bigg Boss OTT 3
Poulomi Das Eviction Explosive Interview - Bigg Boss OTT 3
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Poulomi Das Eviction Explosive Interview - Bigg Boss OTT 3By BOLLYWOOD FLASH| 2356 views
