Things are looking grim:
- The S&P 500 is down 20% YTD (source).
- Tons of layoffs at big tech companies: Klarna laying off 10% of staff. ClickUp laying off 7%, On Deck laying off 25%, Cameo laying off 16%, Rivian getting ready to lay off 5%… and so many more that’s it’s impossible to keep up (source).
- CPI — aka inflation —at +8.6% over the past 12 months (source).
We’re seeing this in our business too:
It feels a bit like we’re all squirrels nervously stacking food for a cold, dark, long winter.Continue reading →