As stocks tank and layoffs take hold, tech titans are in trouble

As stocks tank and layoffs take hold, tech titans are in trouble
Jennifer Cruz/Insider

Hi! Welcome back to Insider Weekly, a roundup of our top stories. I'm Lisa Ryan, editorial head of newsletters at Insider, subbing for Matt Turner as he takes some much-deserved time off. Let's get to it.


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Introducing our new finance newsletter


Hello! My name's Aaron Weinman, and I'm a correspondent for Insider who's covered dealmaking, people, and culture across Wall Street's investment-banking universe.

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'Lots of companies are going to get vaporized'

As stocks tank and layoffs take hold, tech titans are in trouble
Rebecca Zisser

Tech empires flying by with get-rich-quick schemes could soon see their demise as the stock market tanks. Bankruptcies, hiring freezes, and stock collapses are looming. Made-up, hoodoo metrics kept by some companies just aren't cutting it anymore.

In her latest report, Insider's Linette Lopez chronicles the fall of our tech gods as they tumble from their thrones. But as she writes, we've built a tolerance for their bad behavior. We've thrown our chips in, betting on the forever rise of these supposed geniuses, despite our better judgment. What happens once their tricks and grandstanding are stripped away? What happens when we realize they may not have been that brilliant after all?

Why Big Tech is on autopilot to destruction.

How JPMorgan Chase gathers data about workers

As stocks tank and layoffs take hold, tech titans are in trouble
Jamie Dimon, the chief executive of JPMorgan.Misha Friedman/Getty Images

Employees are watched the second they clock in. Their Excel activities are tracked in real time. Even their Zoom calls are monitored. That's what interviews with employees and ex-staffers, as well as internal documents, reveal about JPMorgan Chase's data-tracking practices.


Some staffers see this as straight out of an Orwellian nightmare; others say the data collection could be a harbinger of privacy violations. Many told us they didn't know why they were being tracked in such ways. But what's certain is that this has created a heightened sense of suspicion and fear at the big bank.

Read on to find out what staffers are saying.

Silicon Valley engineers are really freaking out

As stocks tank and layoffs take hold, tech titans are in trouble
Malte Mueller/Getty

Burnout is a hot topic on Blind, a social platform for tech workers that allows for anonymity (as long as you divulge your salary and employer). There, techies ponder their next career moves, discuss optimization (save time by forgoing sex was one tip), and share advice for achieving the elusive state (especially in Silicon Valley) of work-life balance.

Senior tech correspondent Adam Rogers surfed through threads ranging from the existential to the banal. What he learned: It seems like nobody's happy and everybody's burnt.


Take a dive into the minds of high-earning tech workers.

Swedish workdays are a 'different pace' for this expat

As stocks tank and layoffs take hold, tech titans are in trouble
Mark Bula, chief commercial officer at H2 Green SteelH2 Green Steel

Have you ever wondered what it's like to live and work in a Nordic country? An American executive who moved from the US to work at a startup in Stockholm tells us how different his work and social lives are now that he's relocated.

There are more moments reserved for socializing, Swedish-language classes, and sipping coffee. Then there are a few surprising customs that took some getting used to.

Here, he walks us through a typical day in his workweek.


This week's quote:

"When I started at Netflix, I was making money and continuously learning new things. Now, I was just making money with no career progression."

More of this week's top reads:

Plus: We're seeking nominations for Insider's list of the 30 leaders under 40 transforming healthcare. Here's how to apply.

Curated by Lisa Ryan. Edited by Sarah Belle Lin and Hallam Bullock. Sign up for more Insider newsletters here.