I’ve seen this exact headline about over a dozen tech companies in the last few months, particularly in the games industry. How do we make sense of it? I am not accustomed to seeing companies that are doing well, as they all claim to be, discharging swathes of their labor force.
It’s also using its monopoly status to reap profits. If you want to easily listen to music and have shareable playlists - very simple things to do, technologically - the limiting factors are actually the music industry IP owners and the network effect of already having a critical mass of people, i.e. a natural monopoly.