OPINION

Disrupting the disruptors on the internet

Oped, Roger McNamee, Published on 09/12/2022

» After a decade of unconstrained growth -- when it seemed that a new billionaire was minted every day -- the tech industry has finally hit a rough patch. Elon Musk's erratic behaviour following his takeover of Twitter has left the financially leveraged platform in a precarious state. The crypto exchange FTX's sudden implosion has vaporised a business that was recently valued at US$32 billion (1.1 trillion baht), taking many other crypto firms with it. Meta (Facebook) is laying off 11,000 people, 13% of its workforce, and Amazon is shedding 10,000.