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After years of upping the ante with everything from exercise classes to laundry services, tech companies are clamping down on the freebies. It’s part of a broader push to cut costs across the industry.
Those efforts took center stage recently when Meta fired employees , BI’s Jyoti Mann and Ashley Stewart write.
While speaking at an all-hands earlier this month, Garman said nine out of 10 Amazonians he spoke to were ” after a strong earnings beat fueled enthusiasm. Its revenue jumped 68% from a year ago, partly thanks to AI licensing deals with Google and OpenAI.
- Semiconductor stocks struggle. An index tracking the sector BI spoke with nine test drivers, who described sometimes perilous scenarios and near-crashes while testing unreleased software.
- Meta and Microsoft reported earnings. While Meta missed expectations for user growth (notching 3.29 billion daily active users instead of the expected 3.31 billion), — Trump’s tax plans could mean increases for lower earners; Harris’ proposals would target higher earners. Meanwhile, both have proposed some version of nixing taxes on tips.
- Some Amazon employees support Jeff Bezos’ controversial WaPo decision. Internal messages viewed by BI reveal employee division over his decision to stop presidential endorsements by the Washington Post. While some commended the move, others questioned Bezos’ motives and timing.
- Inside the battle for control of America’s home listings. Open up Zillow, Redfin, or any of their competitors, and you’ll have a near-complete picture of all the homes for sale in the country. Real estate’s power players want to change that. They’re fighting each other for control, but it’s consumers who stand to lose.
- Apple, Amazon, Intel, and other companies report earnings.
- Happy Halloween!
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The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Milan Sehmbi, fellow, in London.
