About half of Bandcamp employees have been laid off

narwhal@lemmy.ml to Technology@lemmy.ml – 287 points –
About half of Bandcamp employees have been laid off
theverge.com
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I feel like back in March 2022 Epic did not really anticipate market conditions to continue to worsen. Big miscalculation on their part.

Why wouldn't you plan for the worst?

I really don't understand how on one hand all of these CEOs and investor types are geniuses and just built different but on the other hand they're hiring people and firing people because they couldn't predict the line on graph doesn't always go up.

If I had to guess, it's because of money. There was more incentive at the time to grow fast and try to maximize profit than to limit growth and potential profits in case of a market downturn. Tim slightly explains what happened.

For a while now, we've been spending way more money than we earn, investing in the next evolution of Epic and growing Fortnite as a metaverse-inspired ecosystem for creators. I had long been optimistic that we could power through this transition without layoffs, but in retrospect I see that this was unrealistic.