Sometimes, progress demands going backwards before moving forward. Consider remodeling a kitchen: the old must be demolished before the new can emerge. This initial retreat can often feel disheartening.
However, with determination and sufficient resources, the end result tends to be a significant improvement.
Remodeling a stagnant company is akin to this process, often requiring short-term sacrifices for long-term benefits. Initial changes may not be aesthetically pleasing, and with employees’ livelihoods at stake, such decisions can be emotionally charged. Yet, they are sometimes necessary.
Recently, Meta’s CEO Mark Zuckerberg informed investors that 2023 would be the “year of efficiency.” As you might recall, in November 2022, the company laid off 11,000 employees, with rumors swirling that even more layoffs are on the horizon.
The threat of further layoffs has generated uncertainty concerning upcoming projects, their potential cancellation, and the personnel involved. Consequently, several Meta employees find themselves in a position where they are receiving pay but doing no work. Ironically, improving efficiency requires a temporary plunge into inefficiency.
Zuckerberg remains focused on his goals. During Meta’s fourth-quarter earnings call on February 1, he stated:
“We’re working on flattening our organization structure and removing some layers of middle management to expedite decision-making, as well as deploying AI tools to enhance our engineers’ productivity.”
In a recent company-wide meeting, Zuckerberg reiterated his stance on middle management, putting them on notice:
“I don’t think you want a management structure that’s just layers of managers overseeing each other instead of the actual workers.”
This may seem harsh, but there’s merit to the statement.
At his core, Zuckerberg is a genuine technology enthusiast who has noticed that many within his organization don’t share the same passion.
Real Technology Enthusiasts
True technology enthusiasts are not swayed by perks like vacation days or popular causes; their focus lies in programming and developing innovative applications and platforms that are both fascinating and functional.
Driven by their vision, these individuals immerse themselves in their work, sometimes for days on end, fueled only by energy drinks.
These dedicated tech innovators laid the groundwork for industry giants such as Apple, Google, YouTube, Facebook, Amazon, Netflix, Microsoft, Samsung, Tesla, Salesforce, and Oracle, impacting every facet of modern life.
However, like every booming industry, tech eventually experiences an overshoot—when growth outpaces sustainable value. This point is often obscured by the momentum of the rush for market dominance, sometimes remaining hidden for years.
During phases of latent overshoot, industries become cluttered with pretenders. Over the past decade, many tech companies filled their ranks with faux technology enthusiasts who prioritized perks over genuine innovation, immersing themselves in social media trends instead of meaningful progress.
These impostors infiltrated middle management, where they could avoid producing significant value while focusing on managing staffing and delivering performance reports up the chain.
The era of techno posers was enjoyable while it lasted, but it came to an abrupt end around mid-2022.
The Era of Techno Posers
On June 30, 2022, during a remote meeting, Zuckerberg declared the need to part ways with employees who were merely “coasting” or underperforming. He candidly remarked, “Realistically, there are probably a bunch of people at the company who shouldn’t be here.”
Many employees—chiefly the techno posers—received this message with amusement, promptly generating memes on Workplace, including the phrase: “Coast, Coasters, Me,” a playful twist on Meta’s “Meta, Metamates, Me”.
Others humorously created posters at Meta’s headquarters, boldly asking, “Should you be here?” above images depicting Zuckerberg enjoying leisure activities.
Clearly, many techno posers were oblivious to the serious nature of the situation. This disconnect became particularly evident during the Q&A segment of the meeting. The Verge captures the moment:
“‘Hi there,’ began the first video question, ‘I’m Gary, located in Chicago.’ His inquiry: would Meta Days—extra time off introduced during the pandemic—continue in 2023?”
“Zuckerberg appeared visibly exasperated, having just discussed the possibility of a severe economic downturn. He had already implemented hiring freezes in several departments. TikTok was rapidly gaining ground, creating significant pressure on their market position.”
“And Gary from Chicago was asking about extra vacation days?”
“‘Given the tone of the rest of the Q&A, you can imagine my reaction,’ Zuckerberg said, confirming that Meta Days were canceled after 2022.”
Do Techno Posers Have the Skills to Pay the Bills?
Gary from Chicago exemplifies a techno poser; instead of embracing challenges, he focuses on vacation days. Whether he still works at Meta remains uncertain, but it’s evident many of his techno poser colleagues are now jobless.
These individuals have transitioned from coasting in cushy, lucrative positions to lounging on their sofas. The tech industry is shedding jobs rapidly, making it unlikely that many techno posers will secure similar employment elsewhere.
While there’s nothing inherently wrong with seeking high-paying roles, the tech sector thrived for a decade, allowing numerous ambitious individuals to benefit from its wealth.
Now that the tech bubble has burst, what lies ahead?
Genuine technology enthusiasts will pursue their forte, starting new ventures that will drive the next evolution in technology. Others will stay with their now-refined employers and push for groundbreaking profit-generating innovations.
Yet, some capable programmers may have to seek opportunities outside the tech bubble, finding roles in various industries such as utilities or healthcare.
As for the laid-off techno posers, do they possess the skills to sustain themselves?
One such poser, Bailey, has embarked on a side venture flipping real estate, claiming she only needs to invest one to two hours weekly to earn. Impressive. Perhaps this endeavor will succeed for her.
But what about the rest of the techno posers? Those who prefer managing others to doing actual work? What paths will they take?
It seems their most viable option will be to pursue careers in government roles, where they can receive compensation for directing others—sometimes even you.
[Editor’s note: While techno posers may not be entirely negative, many individuals have unfairly become collateral damage in widespread layoffs. Perhaps you or someone you know is among them. Regardless, now is an ideal time to strategize your finances for the uncertainties ahead. Consider exploring some proactive measures; if interested, check out my Financial First Aid Kit.
Sincerely,
MN Gordon
for Economic Prism
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