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Tech jobs are mired in a recession
  + stars: | 2024-11-18 | by ( Aki Ito | ) www.businessinsider.com   time to read: +9 min
But ask white-collar professionals who are actually looking for a job, and they'll tell you horror stories that are eerily similar to Bach's. As I wrote last spring, that's because the job market has essentially split into two distinct tiers. AdvertisementNow, new data from LinkedIn — which tracked how often its users landed new jobs — shows which white-collar jobs are being hit the hardest. AdvertisementAnother reason tech companies are hiring fewer professionals is that their existing employees are opting to stay put. "We're slowly, slowly recovering," says Art Zeile, the CEO of Dice, a tech job board.
Persons: Jon Bach, Bach, I've, that's, Kory Kantenga, , they'd, Jenny Diani, Jon Stross, Santiago Rodriguez, it's, we're, We're, Zeile, Dice, Aki Ito Organizations: eBay, LinkedIn, Autodesk, Google, Business Locations: coders, Silicon Valley
As leading tech investors continue to vocally take sides ahead of the 2024 presidential election, legendary venture capitalist Michael Moritz is making his preference clear. In a Financial Times opinion piece published Monday, Moritz wrote that those in the industry who are supporting Donald Trump "are making a big mistake." Moritz was referring to Trump's conviction, earlier this year, on 34 felony counts in New York State court. Other Trump backers include venture capitalists David Sacks and Joe Lonsdale as well as Doug Leone, Moritz's longtime partner at Sequoia. Moritz wrote in his op-ed that Trump's tech financiers and supporters were "making the same mistake as all powerful people who back authoritarians."
Persons: Michael Moritz, Moritz, Donald Trump, Moritz —, LinkedIn —, Trump, Andreessen Horowitz, Marc Andreessen, Ben Horowitz, Elon Musk, David Sacks, Joe Lonsdale, Doug Leone, Moritz's, He's, Reid Hoffman, Kamala Harris, Joe Biden, VCs, Harris, Kamala, Arnold Schwarzenegger, Mitt Romney, John Kasich's, OpenSecrets Organizations: Sequoia Capital, Google, PayPal, LinkedIn, Trump, Tesla, Sequoia ., Democratic, Trump Lincoln Project, Republican, Tech Locations: Sequoia, New York, Silicon Valley, California, Ohio
Read previewScrolling through the profiles on OkCupid, Anna Akbari was drawn to a man who seemed handsome, witty, and highly intelligent. He was a catfisher — a person who fakes their online identity to trick victims into thinking they are someone else. He'd sent her a forged driving license, power points from his supposed job, and even copies of papers he claimed to have written at MIT. "We didn't know who this person was or why they were doing it," Akbari told BI. "Emily was Ethan, and Ethan was Emily," Akbari wrote in the book.
Persons: , Anna Akbari, They'd, Akbari, — Ethan Schuman, MIT —, Schuman, Ethan, Gchat, — Schuman, he'd, Warren Talmarkes, I'd, didn't, Gina Dallago, She'd, Dallago, Anna, He'd, they'd, Emily Slutsky, who'd, Emily, Slutsky Organizations: Service, Columbia University, MIT, Business, New York University, BI, Skype, Grand, Valentine's, Facebook, Grand Central Publishing, Columbia Locations: Washington, DC, New York, Ireland, Irish, Akbari, New York City, Japan, Columbia, Cork
One owner even said they'd been warned when the truck was delivered that it could rust in the rain. "The advisor specifically mentioned the Cybertrucks develop orange rust marks in the rain and that required the vehicle to be buffed out," a member of the Cybertruck Owners Club forum wrote. Stainless is reactive and free iron that sits on it will rust," the Cybertruck engineer said. Demaree said the latter method appeared to do the trick but advised Cybertruck owners to be careful using the polish on the truck. Tesla delivered its first dozen on November 30, and several celebrities have been spotted with their own Cybertrucks in the months since.
Persons: , Wes Morrill, they'd, Morrill, Tesla, Elon Musk, Justin Demaree, Guy, he'd, Demaree, It's Organizations: Service, Business, Cybertruck Owners, Tesla, YouTube, Delorean
Read previewThis is an as-told-to essay based on a conversation with Mariana Kobayashi. It was a company I'd always wanted to join, and it felt like my dream job. Mariana Kobayashi found out she was being laid off from LinkedIn in May 2023. Many of my friends who worked at LinkedIn and Google have also quit their jobs in the last eight months because of the low mood. After traveling for six months, Kobayashi landed a higher-paying job at Google.
Persons: , Mariana Kobayashi, I'd, weren't, Kobayashi Organizations: Service, Business, LinkedIn, Google Locations: Google's Dublin
Some left behind prestigious roles to pursue their passions, while others quit tech due to burnout. Some left behind their glamorous roles to pursue their passions, and some quit tech due to burnout. Read more: I quit my six-figure tech job because I couldn't work abroad. Mayuko Inoue left her tech job due to panic attacksMayuko Inoue is a former iOS software engineer at Patreon and Netflix. In 2022, he left Meta to start Taro, a community to help other engineers achieve similar career success.
Persons: Meta would've, , Eric Yu, pinky, Yu, Read, Sergio Najera, Najera, I've, Mayuko Inoue, overexerting, Inoue, that's, Michael Lin, Lin, he'd, — he's, Jerry Lee, Lee, Rahul Pandey, Meta, Taro, Pandey, Mitchie Nguyen, Nguyen, Dayana Sabatin, Sabatin, I'm, it's, Jonathan Javier, Javier, It's Organizations: Meta, Service, Netflix, Google, Facebook, LinkedIn, Cisco Locations: Redding , California, San Francisco, Minneapolis, Minnesota, Spain, Morocco, Netherlands, Argentina, Brazil, Chile, Silicon, Europe, Asia, Seattle, Los Angeles
The days of easy money are over as entrepreneurs face a funding winter amid a slowing global economy — and start-ups in India are not exempt. According to a local report, venture funding came in at $2.19 billion from January to March, dropping from the $11.34 billion invested in the same quarter last year. However, there are sectors that have "demonstrated resilience amid challenging times," said Pooja Chhabria, LinkedIn APAC's head of editorial. "Fintech remains a bright spot for investors despite the downturn, especially as we see funding on the recovery path and global tech giants eyeing fintech in India," she added. "The rise of edtech also underscores the continued demand for upskilling among professionals and students, especially with rapid changes due to technologies such as AI."
Persons: Pooja Chhabria, edtech Locations: India
Venture funding has taken a hit since 2022, as investors pull back on capital amid economic headwinds. According to a report from research firm Tracxn, total funding into Southeast Asian startups fell by 71% to $2.3 billion in the first half of 2023 — compared to the same period one year ago. Singapore startups attracted at least half of the funding and was the most-funded Southeast Asian city in the region, said the report. LinkedIn added that the startups that made the list "have trailblazed their way through recent economic and workplace challenges — and managed to stand out to investors and top talent along the way."
Persons: Organizations: LinkedIn Locations: Singapore, Asian
Alex Cheney was laid off from recruiting roles at Sendoso and Atlassian within one year. My first layoff happened in June 2022 when Sendoso went through its first job cuts of the pandemic. I signed an offer with Atlassian two weeks after my Sendoso layoff and started one month later. I had just started working on process improvement — another one of my biggest passions — when I was laid off. AdvertisementAdvertisementThe few calls that I did schedule led to black holes where I was ghosted — I've been ghosted more times than I can count.
Persons: Alex Cheney, Alex, It's, Sendoso, I've, I'd, it's, hadn't Organizations: Service, Companies, LinkedIn Locations: Wall, Silicon, La Quinta , California, Robinhood, North America, New York City
Three years ago, becoming an AI expert would involve "deep knowledge in machine learning algorithms, deep learning AI in general, and a lot of technical things," said Hu, who works through Fiverr on chatbot implementation projects. The rise of generative AI is rapidly reshaping the freelance tech job market, with AI-related job posts from employers and searches among job seekers surging across career and freelance job platforms, including LinkedIn, Upwork and Fiverr. There is opportunity for freelancers expert in AI to take advantage of the lack of AI skills among existing industry professionals, across sectors of the economy. She added that independent methods of education, including YouTube videos or blogs focused on AI skills, are becoming more sought after in the workforce. Hu said to start with the basics, including use of OpenAI tools, like ChatGPT, ChatGPT API, Dall-E, and davinci.
Persons: , Hu, Vlad Hu, Hu isn't, Fiverr, Karin Kimbrough, we've, Margaret Lilani, Lilani, Victoria Papalian Organizations: LinkedIn, Microsoft, Freelance Locations: Fiverr, U.S
The UAE introduced a new regulatory body to oversee commercial gaming on Monday, made up of casino and gambling experts from the United States. Gambling is currently illegal in the UAE, where some laws are based on the Quran, which forbids the practice. The new federal body, called the General Commercial Gaming Regulatory Authority (GCGRA), would create a “regulatory framework for a national lottery and commercial gaming,” according to Emirati state media WAM. “[GCGRA will] facilitate unlocking the economic potential of commercial gaming responsibly,” WAM said. “I look forward to establishing a robust regulatory body and framework for the UAE’s lottery and gaming industry,” Mullally said on his new appointment, according to WAM.
Persons: ” WAM, Kevin Mullally, Jim Murren, Mullally, ” Mullally, Ras Al Khaimah, Craig Billings, ” Billings Organizations: Abu Dhabi CNN —, United Arab, Gaming Regulatory Authority, Industry, MGM Resorts International, MGM, Gaming Laboratories, Wynn Resorts, United, WYNN, Wynn Hotels, Global, Caesars Entertainment, Royal, Royal Caribbean Cruise, UAE, Costa Cruises, Bloomberg Locations: Abu Dhabi, United Arab Emirates, UAE, United States, Ras Al, Dubai, Royal Caribbean, Singapore
A Chinese spy created several fake LinkedIn profiles to target UK officials, The Times of London reports. Another Chinese agent previously confessed to using LinkedIn to find people likely to possess sensitive information. AdvertisementAdvertisementA Chinese spy has been using LinkedIn to try to get UK officials to hand over state secrets, The Times of London reported. The UK's security minister Tom Tugendhat said in a statement shared with Insider that the Home Office is aware of Chinese Intelligence using LinkedIn and other social media sites to target British citizens. In a statement shared with Insider, a LinkedIn spokesperson said: "Creating a fake account is a clear violation of our terms of service.
Persons: Beijing –, Robin Zhang, Eric Chen Yixi, Robin Cao, Lincoln Lam, John Lee, Eric Kim, Tom Tugendhat, It's, Lazarus – Organizations: The, LinkedIn, Chinese Ministry of State, The Times, Times, Intelligence, National Security, Washington Post, Reuters, Prevention & Defense Locations: London, Beijing, China, North Korea
According to LinkedIn, Singapore has the highest "diffusion rate" of AI skills — where the share of members adding such skills to their profiles grew 20 times compared to January 2016. Workers in Singapore are the world's fastest when it comes to adopting artificial intelligence skills, according to LinkedIn's latest Future of Work report. Finland (16x), Ireland (15x), India (14x), and Canada (13x) round out the top five countries with the highest rates of AI skills diffusion, according to the report. Skills 'potentially augmentable' by AIIn 2022, the five fastest-growing AI-related skills added to member profiles were all ones "hinting at the emergence of generative AI," according to LinkedIn. Share of skills potentially augmentable by generative AI Software engineer: 96%Customer service rep: 76%Cashier: 59%Salesperson: 59%Teacher: 45%Event manager: 39% Just 3% of software engineers' skills need to be performed by humans.
Persons: Pooja Chhabria, Chatbot ChatGPT, Goldman Sachs, GAI, Chhabria Organizations: LinkedIn, Workers, CNBC, Big Tech, Google, Microsoft Locations: Singapore, Finland, Ireland, India, Canada, Asia, Pacific
Chase Griffin has more than 30 brand deals, and his recent ones are mostly multi-year partnerships. Chase Griffin. 1st College Athlete Brand Ambassador for the largest/most powerful bank in the world. JP MOrgan Chase 1st College Athlete Brand Ambassador. "NIL & Athlete Brands: A NewEra", November 22, 2022.
Persons: Chase Griffin, Griffin, JPMorgan Chase, he'll, influencers, Chase Griffin Griffin, Griffin doesn't, He's, that's, I've, Page, JP Morgan Chase, Lucchese Bootmaker, Frances https, JP MOrgan, Chase Griffin Chase Griffin, Chase, Lucchese, Ed, Arthur Ashe Jr Organizations: UCLA, Gatorade Football, University of California, DirecTV, Foods, JPMorgan, LA Regional Food Bank, Bloomberg, LinkedIn, Boost Mobile, LA Food Bank, DMs, Twitter, JPMorgan Chase, Range Media Partners, WGA, SAG, Brands, ucla, Creative, Banking, Chase Bank, Morgan Wealth, Bank, Champs, Urban Outfitters, United States Polo Association, Lucchese, Hollywood, Marketing, UWG, UC Investments Academy, Fund Public Service, Regional Food Bank, Empowerment, Sports, Entertainment, Beach, Sports Rights, Cannes, Creativity, Cannes Lions, College Football Hall of Fame, Association, Conference, 1st, Financial, JP MOrgan Chase, Brand, of College Athletics, Rose Bowl, Community, Royce, True Bruin, Town Hall, Sports Innovation, Chase Center, NV, Regents, Brand Innovators, College, Los Angeles Times, ESPN, Unilever, Shell, Rose Bowl Stadium, Los Angeles Regional Food Bank, Leadership Team, Council, Range, WPP, University of California Investments, UC, Santa Monica Hospital, Public Affairs, Leadership, UCLA Law, National Football Foundation, Pro Football Hall of Fame, Texas High, Gatorade Locations: Texas, Los Angeles, Opendorse, Instagram, Hollywood, CA, Cannes, Atlanta, Carlsbad, Los Angeles , CA, Pasadena, Los Angeles CA, San Francisco , CA, Los Angeles ,, Las Vegas, United
Selipsky does work at a "big company" of course, but he doesn't want Amazon to feel that way. At Amazon, it's always supposed to be "Day 1," the dawn of a new era where the customer comes first and bold bets are backed. Selipsky said in the staff meeting that Amazon has to keep the mentality that "we are going to be the insurgents." Economic update: I wrote a week ago that the dream scenario for the economy was looking more likely by the day. More than 30 people involved in the tech industry told us the real problem was lazy managers.
Persons: Adam Selipsky, it's, Insider's Eugene Kim, Selipsky, that's, Andy Jassy, let's, Arantza Pena, , David Clapp, Insider's Adam Rogers, Rogers, Phil Rosen, George Mickum Mike Vitelli, George Mickum, he'd, Birkin, Mitchie Nguyen, Matt Turner, Hallam Bullock, Lisa Ryan Organizations: AWS, Federal Trade Commission, San, Getty, Google, LinkedIn Locations: San Francisco San Francisco ,, San Francisco, Manhattan
Mitchie Nguyen is a former product marketing manager at Meta and Google. She left her $196,000 job at Meta job to build her own creator economy startup. I've spent around six years working in the tech industry at companies like LinkedIn, Meta and Google. Google: Associate product marketing manager$91,000 base salary + 15% annual bonus target + $64K stock package vested over four yearsI joined the associate product marketing program at Google where I fell in love with product marketing. During my time there, I took on various roles, starting with building the privacy product marketing team for augmented reality and virtual reality products.
Persons: Mitchie Nguyen, Aria Yang, Michelle Nguyen, I've, , it's Organizations: Meta, Google, LinkedIn, Business, VR, Facebook Locations: Japan, Austria, Australia, Italy, Spain
Careem CEO Mudassir Sheikha said he didn't want to hire people focused on high pay or work hours. Some workers on Blind called the CEO's LinkedIn post "tone deaf" and "cringe." Tech workers took to the employee-forum Blind to criticize a startup CEO after he wrote a list of characteristics that he didn't want in new hires, including staff who prioritized pay and wanted to "clock in and clock out" of work. The Roblox employee was one of many tech workers to take issue with the LinkedIn post. "A honest, helpful & concise description of the company culture from the CEO," Shankar said.
Persons: Mudassir Sheikha, Careem, We're, Binod Shankar, Shankar, I've Organizations: LinkedIn, Morning, Tech, Uber, Microsoft, Startup, United Arab Emirates, National Locations: Careem, Dubai
In January, Kylie Goodwin, who works in accounting, posted a TikTok video of offices in tiny homes. Goodwin said the workspaces within the tiny homes are just one of the perks of working there. An FHS employee responded by email to Insider's request for comment about the tiny homes but didn't provide more detail. Tiny homes are all the rage right now, from handcrafted luxury models that are over $175,000 to tiny homes sold on Amazon that cost a few thousand dollars. "My job has all the perks," Goodwin wrote.
Persons: Kylie Goodwin, Goodwin, , Kylie Goodwin —, FHS, commenter Organizations: Service, FHS Property Management, Home Solutions, FHS Locations: Missouri, Springfield , Missouri
LinkedIn has released its annual list of top companies in India to work for and "a vast majority" of them are in either financial services or banking. According to the professional networking platform, 10 out of 25 companies are from that space this year — a shift from last year's list which was dominated by tech companies. "In India, the accounting and financial services sector witnessed a significant growth during the pandemic," said Pooja Chhabria, LinkedIn career expert and head of editorial for APAC. India's "LinkedIn Top Companies 2023″ list also saw 17 companies making their debut — an indication of "strong momentum" in the country's business ecosystem, Chhabria said. One of such companies is Zepto, which was also part of the "LinkedIn Top Startups list" last year — a testament to its "significant scale and growth," LinkedIn added.
E. Jean Carroll's rape lawsuit against former President Donald Trump goes to trial next week. A federal judge sealed documents related to whether billionaire Reid Hoffman funded Carroll's suit. Alina Habba, an attorney representing Trump in the lawsuit, told Insider she would oppose the decision. On April 13, Habba asked Judge Kaplan (who is not related to Carroll's lawyer) again to delay the trial and reopen the discovery process in the case. Trump's attorneys haven't yet said whether the former president will attend the trial, and Judge Kaplan isn't forcing him to.
The list of top companies in Singapore sees a huge reshuffle this year, which is a testament to "Singapore's strong business ecosystem," according to LinkedIn. LinkedIn has released its annual list of top companies in Singapore to work for — and banking and information technology companies dominated the 2023 list. The list of top companies also saw a huge reshuffle this year, which is a testament to "Singapore's strong business ecosystem," according to the professional networking platform. The banking and finance sector in particular, saw 4 companies in the top 5 on the "LinkedIn Top Companies 2023″ for Singapore. It provides financial products and banking services to individuals, corporations, governments, investors and institutions.
Gap was hoping to tap into a lucrative new revenue stream called retail media, projected to be worth $45 billion in 2023, according to Insider Intelligence, Insider's sister company. Instead of GPS Media, Gap is devoting resources to support GPS Platform, which handles logistics and fulfillment services for other retailers including next-day and two-day shipping. Gap has also started GPS Apparel, which customizes apparel for companies. Lipsman said that Gap also had a disadvantage in retail media because it only sold its own brands. Are you a Gap employee or do you have insight about retail media to share?
LinkedIn has been used as a dating app before – one woman wrote about finding her husband on the platform, Insider reports. "I actually receive messages like this almost every day on Instagram, but have never gotten one like this on LinkedIn," Harmelin told Insider. The message from the unidentified suitor read: "Hey Hannah–skipping the line on a dating app and coming straight to you. Although she didn't say whether or not the pair plan to meet up in person, Harmelin told Insider she did reply to his message. The LinkedIn mystery man isn't the only one looking for a perfect match on the site meant for professional networking.
Blind members verify that they work at a particular company by signing up with a work email address. Now, Blind is filled with posts from workers comforting each other about how to get through periods of unemployment. (Some tech workers have also lamented the pay cut they’d have to take by switching industries.) “We just all realized that there’s a need for communication that is kind of independent of company control,” Kim said. While Blind is not exclusively for tech workers, it has become incredibly popular in the industry amid the recent turmoil.
LinkedIn is having a moment thanks to a wave of layoffs
  + stars: | 2023-01-08 | by ( Clare Duffy | ) edition.cnn.com   time to read: +7 min
Some LinkedIn users affected by recent layoffs have formed groups on the site aimed at providing assistance, coordinating around signing exit paperwork and aiding with connections for new jobs. Suddenly, the normally staid professional network has become both a vital lifeline for recently laid off workers and a surprisingly lively social platform. “There’s been an uptick in [LinkedIn use] since the pandemic,” said Jennifer Grygiel, an associate professor and social media expert at Syracuse University. Layoffs and upheaval in social media industryEven apart from the layoffs, the social media landscape has been through a volatile year. But lately it appears users have more than enough reason to use LinkedIn amid a wave of thousands of layoffs.
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