Layoff season… again. Job cuts tend to spike in January as corporate preps for the coming year. We hardly need more confirmation: in just the first two weeks of this year, companies including Amazon, Google, BlackRock, Citi, Discord, and NBC have cumulatively announced thousands of cuts. 38% of biz leaders said layoffs are likely at their companies this year, one survey said. “Recession concerns” are oft-cited. Newer thing: Google, Meta, and Dropbox have pointed to AI as a factor in their layoffs. Duolingo cut 10% of its staff as it uses ChatGPT to create language-learning content.
Droppin’ digi-coins… for your fave TikTok streamer (“ice cream so good”). Social apps are earning big bucks as mobile-game spending cools. Last year, TikTok and Disney+ helped fuel an 11% jump in global in-app sales, which hit a record $64B. But gaming slipped as users spent less on extra lives and avatar fits. While ads make up the bulk of mobile sales, people are splurging more on digital goodies like creator tips and Hinge roses. Consumer spending on in-app purchases in social apps is expected to hit a record $1.3B this year.