Meta Platforms shareholder and Altimeter Capital CEO Brad Gerstner is calling on Meta CEO Mark Zuckerberg to cut spending and reduce employee headcount in order to rebuild confidence with investors. In an open letter Monday, Gerstner said Meta had “drifted into the land of excess — too many people, too many ideas, too little urgency.” He urged the company to reduce headcount expense by at...
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Amazon’s Anthropic Deal Signals Cloud Sector Turbulence
You know the cloud industry is in upheaval when industry leader Amazon Web Services has to copy a tactic used by its smaller rivals to compete more effectively. The Amazon unit’s decision on Monday to invest up to $4 billion in AI startup Anthropic, as part of a broader deal in which AWS becomes the startup’s “primary cloud provider,” looks a lot like the type of equity-for-business deals AWS...
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