A bad year for IT companies
It has just been reported by Human Events that in 2022, Big Tech lost $7.4 trillion. Perhaps it has to do with the fact that many are leaving the platforms due to their tyrannical policies, or — in Twitter's case — are rebuilding. Many of these companies reported groundbreaking numbers of layoffs. In Twitter's case, Elon Musk rightfully fired half of the staff that Jack Dorsey had.
Human Events also reports that not one of the fifteen tech companies in the United States made a profit in 2022. This is a great thing. Due to the loss of money by these companies, many of the CEOs apologized for one mistake or another. However, they never came out and apologized for censoring conservative opinions.
Concerning Meta, Facebook's parent company, Human Events reports, "after spending billions of dollars on the largely failing metaverse project, and forcing revenue to nosedive, CEO Mark Zuckerberg was forced to lay off around 11,000 employees and admit 'I got this wrong.'" Amazon lost more than $1 trillion in market value, becoming the first company to reach such a number. Microsoft lost more than $889 billion, laying off 8,000 employees. Apple, whose products are made in China, did not suffer the same losses. But the company had to cut hundreds of jobs all the same. Lucky Twitter cut only around 3,500 jobs. Of course, the dichotomy with Twitter is that is has become a free speech platform under the ownership of Elon Musk. Thanks to Musk, Twitter has seen a larger audience and more engagement now than ever before. These tyrannical Big Tech companies should look at Twitter for success. Social media companies should not be a front for the Democrat party.
Approximately 210,000 employees were laid off by the fifteen tech companies. All fifteen have engaged in the surreptitious censorship of conservatives. In fact, in 2021, all these companies banned the sitting president of the United States, President Donald Trump. If they can do this to Trump, imagine what they can do to you.
These parochial companies have demonstrated their will to "follow the money," and this year, all that money went down the toilet. These companies sank, and that is a fantastic thing for the American people.
The next Congress should repeal Section 230, which offers legal protection regarding what appears on their platforms. Will the repeal occur? Probably not, since our politicians have a copious number of lobbyists associated with Silicon Valley. However, steps should be taken immediately to strip Big Tech of its protections.
Any time these left-leaning platforms lose money, it is a good thing. They censored a sitting president, deplatformed conservative thought, lied about January 6, and lied about COVID-19. The Twitter Files have shed light on all the darkness that these companies kept hidden away from the world. In many ways, the loss of money these companies experienced this year represents justice for all the catastrophes they unleashed. Always remember that a bad day for Silicon Valley is a good day for America.