(CNN) For much of the past two decades, the ethos of Silicon Valley was largely defined by Facebook’s former motto: “move fast and break things.” But in a sudden and dizzying shift, the current mood in the tech sector could perhaps best be described with a far more restrained mantra: “cut costs and try to survive.” The tech industry is facing a new reality check as broader economic conditions have deteriorated. Each week seems to bring concerning headlines of tech companies laying off employees and implementing hiring freezes while tech stocks get battered, cryptocurrencies crash and people inside and outside the industry warn about a possible recession . Silicon Valley is also arguably more sensitive than some other industries to shifting economic conditions, including from rising interest rates , given how many tech companies rely on easy access to funding to pursue their ambitious projects before making a profit, or in some cases, even generating revenue. Elon Musk threatens to walk away from Twitter deal In recent weeks, investors and industry vets have been trying to raise alarms about the economic environment with a number of memos, tweets and other public statements. “The boom times of the last decade are… Read full this story
- Tech in NJ: Forget Silicon Valley; be Seattle
- Delaware picks 3 businesses for Silicon Valley program
- It's time to get out of Silicon Valley: Miley
- Ageism is forcing many to look outside Silicon Valley, but tech hubs offer little respite
- Silicon Valley gender gap is widening
- Sexism and Silicon Valley: Women can't raise cash and now we have one more reason why
- Pinterest's seventh employee on being black in Silicon Valley
- 'Boys will be boys' gets a new spin in Silicon Valley sexism scandal
- Sex worker trade booming in Silicon Valley
- How Silicon Valley can level the playing field for women
Silicon Valley braces for the good times to end have 294 words, post on edition.cnn.com at June 9, 2022. This is cached page on Search. If you want remove this page, please contact us.