this post was submitted on 24 Nov 2023
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Honestly, this is just big tech all over. I don't think there are many people that work at FAANG companies any more that feel things are better than they were even 3-4 years ago. They are no longer idealised, and CEO's have decided to take company failures out on employees instead of their inability to target long-term success. I've friends at Amazon, Google, and Apple - all say that their "culture" is basically dead.
IMO, we've reached a point where all of the big names in tech are now out of ideas. None of them have innovated in recent years, outside of (maybe) AI, and the culture of supporting moonshot ideas (where someone can work on something new/exciting and not be personally liable if it doesn't work out) is now dead with layoffs in these divisions. The only incentive that big tech has any more is pay, and with no long-term stability and pay decreasing over time, I think we'll see a shift away from FAANG and towards the new breed of tech. FAANG will become the IBM and Oracle's of tech, and things will move on.
Big missing piece there: cloud.
In the first half of the 2010s, there was a study from Gartner or another such company, that forecast that the cloud service market would amount to 1 trillion USD/year by 2030 or so, and since then the big players have been racing to try and carve as much as possible of the future juicy pie from Amazon's hands.
Google completely missed the boat at first then pivoted hard. MS leveraged its deep enterprise presence as hard as it could to get existing customers into its cloud offering; that's why your MS consumer products (Office, OneDrive, etc) are tied at the hip with cloud these days. Not for consumers, for the business market.
It's business to business, however, so the generak public doesn't hear about it a lot. It's also largely non-sexy, and therefore not headline-worthy, with a few exceptions. The whole AI thing, for instance. But even there, consumers are not the target market. Cloud customers are.
In that sense Google, MS and Amazon absolutely already are the new IBM and Oracle.
Meanwhile, as far as I can tell, Meta is still trying to execute on its mission to connect people while still headed by people who have no idea how people connect. Apple is Apple, keeps just making oodles of money off the kind of people who buy Apple products.