The day of the rake continues as The Canadian tech boom is fizzling out as more startups cut jobs, fight to survive Generated from TLDR This:
Photo illustration by The Globe and Mail/Source: iStockphoto AlayaCare had some promising acquisition candidates lined up at the start of 2022, including one worth about $10-million that Adrian Schauer, chief executive officer of the Montreal tech startup, had already budgeted for.
Instead of chasing capital and rapid growth at all costs, many businesses are now getting lean and focused, hoping to achieve something sorely lacking in boom times: profits.
This has hit tech stocks hard, since they’re particularly sensitive to rates – the higher rates go, the lower the current value investors ascribe to the companies’ expected future cash flows.
NELSON MOUELLIC/Handout Jason Smith, CEO of Vancouver business-intelligence software company Klue Labs Inc., began to slow hiring in April and slashed advertising to focus on what he calls the “hand-to-hand combat work” of chasing new clients directly.
When the Toronto investor relations software maker Q4 Inc. revealed in late August that it would lay off 48 people, CEO Darrell Heaps said the company had been hit by a double whammy: Not only was it directly affected by the tech downturn, its flow of new customers began slowing when other companies slowed their public listings.
“Payments is the most important thing for us to get on the path to profitability,” Mr. Chauvet said in an interview earlier this summer. “
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This is reminding me so much of 2000.
Krayon sexually assaulted his sister.
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Aren't they all chasing women employees that might be much more systemically toxic than Blackx or Latinx male employee affirmative action? They've destroyed comedy. Even in 2013 I used to say shit like "Hollywood productions are our insight into corporate America, cuz we actually see what they produce."
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