Tech startups are seeing a shakeout
Job cuts have begun eating into technology startups, notes The New York Times, as investors pull back from higher-cost ventures involving physical assets such as scooters, mattresses, pot — and lots of labor. The newspaper counts more than 8,000 cuts at 30 companies around the world in the past four months. Disappointing public offerings by companies such as Uber and WeWork are prompting investors to scrutinize profitability and, according to National Venture Capital Association, the fewest startups since 2016 managed to raise money in the latest quarter.