[2023 Prediction] Amazon, Alphabet, and Meta Register Historic Profits Layoffs are bad for company morale and worse for those who get fired, but they’re often good for business. The average US tech worker cost their employer at least $100,000 in salary plus benefits and dilution in 2022. Call it $150,000. Fewer humans means substantially more profit per share. Google and Meta, with 30% operating margins, can either fire 25,000 people each or increase their top-line revenue by $12.5 billion and register the same operating income. They, and hundreds of other tech firms, will choose a version of the former. Activist shareholders, and management whose lifestyles are linked to the share price, realize this. TCI, a hedge fund with $6 billion of Alphabet shares, sent a letter to CEO Sundar Pichai a few months ago saying the company has too many employees. Alphabet and others will heed TCI’s call. Despite the headwinds facing the ad giants, including Apple’s privacy measures, the rise of TikTok, and a slowing economy, “efficiencies” will deliver Alphabet, Amazon, and Meta’s most profitable quarters ever. https://www.tcifund.com/f.. #The Most Important Thing