CEO's Corner®-By K.L.P Entertainment™-"October 28th Edition"

CEO’S CORNER

go into next year" due to U.S. inflation, Europe's economy being shaken by high oil prices and the Ukraine conflict, and disruptions in Asia.

Tech firms that experienced rapid growth during the early stages of the pandemic aretheir income statements as a result of a new reality that includes high inflation, rising interest rates, currency headwinds, and other problems. It appears that

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triangle, Facebook parent Meta Platforms Inc. META 1.29%increase; green up pointing triangle, and Google parent Alphabet Inc. GOOG 4.30%increase; green up pointing triangle are tightening their control over costs and monitoring head count, sounding more like highflying tech juggernauts than old blue Through Friday's market closing, investors in those five businesses had lost a combined total of more than $218 billion as a result of the price decline caused by quarterly earnings, which were frequently accompanied by weak predictions. In sum, they have lost more than $3 trillion this year.

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For instance, Amazon's projection quarter fell Wall Street projections by as much as billion.resulting in a more than 6% decline in its share price on Friday.From the highs of the previous two years, growth in the cloud computing industry, a sign of broader business adoption of technology, has declined more quickly than anticipated. Compared to the same period last year, Amazon Web Services' net sales increased by 27% instead of 39%. According to Chief Financial Officer Amy Hood, Microsoft's cloud computing statistic for the most recent quarter was 35%, down from 50% a year earlier. This quarter, sequential growth is anticipated to decrease.In the third quarter, the industrial sector also made it quite evident that it was experiencing

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the impacts of a downturn. Dave Pahl, director of investor relations at chipmaker Texas Instruments Inc., TXN 3.76%increase; green up pointing triangle, stated on Thursday that "we saw weakness begin to expand

The PCs

gadgets is adding to an already challenging environment for computer companies. According to Gartner Inc., worldwide shipments of personal computers decreased by about 20% in the third quarter compared to the same time a year prior, marking the sharpest reduction in more than two decades.

Intel announced a signi quarterly sales, lowered its forecast for PC shipments this year, and warned that the following year would be considerably worse. Sales of Microsoft's Windows operating system fell 15% during the September quarter, and it is anticipated that they would decline more than 30% this quarter.

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Despite marginally falling short of analyst projections, Apple's iPhone sales have generally escaped the macroeconomic headwinds that have been affecting its rival tech titans.

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Tim Cook, the

to be under pressure throughout next year, according to South Korea's electronics and chip powerhouse, which this week announced a 23.6% decrease in net profit.

Companies in the computer industry are working hard to cut expenses while preparing staff for the coming tough times. According to those who heard Sundar Pichai's comments, he warned staff during a company-wide meeting on Thursday that Google had grown too quickly and needed to be more frugal with its expenditures.

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After the company's quarterly results, Brian Olsavsky, Amazon's chief of the new standard.

Amazon has stopped hiring for some of its teams and instead to subleasing millions of square feet of warehouse space. In a call with reporters on Thursday, Mr. Olsavsky stated, "We are going to be very careful on our recruiting." "We are de our cost structure and looking for places to cut costs.” On Thursday, Intel announced that it would cut costs by $3

is starting to make job layoffs and is thinking about selling some assets. Tech leaders made it clear that they are well aware of the pressure that economic uncertainty and rising costs are placing on consumers' and businesses' wallets. During an earnings call, Microsoft CEO Satya Nadella emphasized how the company's Edge web browser can help users save money. People are using the price comparison and discount functions of the browser to save money, he claimed.

He and his Google counterpart, Mr. Pichai, both asserted that firms could save money by using their technological solutions. "We're assisting them in understanding demand, resolving inventory issues,

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boost loyalty, among other things," Mr. Pichai stated. The significant change that has occurred in the digital ad business over the past year has made problems worse for some internet titans.

Companies that rely on digital advertising have been severely impacted by changes Apple made to ad tracking last year as well as spending restrictions brought on by the recession.

This week, Alphabet announced the first-ever decline in YouTube ad sales year over year. Revenue for Meta fell for the second time in a row. Its market cap dropped to 2016 levels as a result of a sharp share selloff.

Not everything is taking a beating. According to Texas Instruments, the only industry that performed well throughout the quarter was the automotive industry. How long it might take before car demand likewise declines is less certain, though.

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"We don't think it makes much sense to try and make an acquisition in order to try and attract active cryptocurrency traders. We are recognized by those individuals, Mr. Bankman-Fried stated. "The retail side is what we would be looking at more,"

He also made light of the idea of a cryptocurrency.inspired by cats, a nod to the recent market boom that saw the introduction of several dog-themed digital currencies, such as dogecoin, which has the face of the Shiba Inu dog as its logo.

According to Mr. Bankman-Fried, FTX was in discussions with investors about raising a fresh round of money. Investors were informed by FTX in September that it planned to raise an extension round at a price that was similar to that of its previous funding.According to a document the Journal saw, $32 billion. According to the paper, FTX US, the exchange's U.S. subsidiary, was also seeking fresh funding at the time at a valuation of about $8 billion.

The funding effort comes at a difficult time for cryptocurrency businesses, which have seen user losses this year due to a decline in the value of cryptocurrencies like bitcoin and ether. At the same panel, Ravi Mhatre, a partner at the venture capital company Lightspeed Venture Partners,

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stated that he was spending less time

Although they are unaware of the exact timing of the crypto market's downturn, Mr. Mhatre and Mr. Bankman-Fried expressed optimism about the sector's long-term prospects.

According to Mr. Mhatre, the rate of innovation is actually fairly healthy.

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