Silicon Valley giants are giving up on their “moonshot” projects
Verily — are now confined by the limits of regular businesses. On Wednesday, Waymo laid off 8 percent of its workforce, adding to a previous round of cuts in January.The Waymo layoffs are just the latest example of a new reality that has settled over Big Tech: The age of the moonshots is over.
Meta said Nov. 9 it will let go of 13 percent of its workforce, as Facebook’s parent company battles cost increases and a weak advertising market.
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