Get Woke, Go Broke: Twitch Streaming Service To Sack 36% Of Employees

Zero Hedge |March 23, 2023

The collapse of the woke tech industry continues to accelerate this month with numerous companies announcing major layoffs and some of them on the verge of bankruptcy.

The culture of ESG status, which is rooted in far-left identity politics, climate change hysteria and the World Economic Forum’s concept of “Stakeholder Capitalism” has created a vast network of financial systems built on woke ideology. The recent fallout from the Silicon Valley Bank crash has highlighted the deep flaws involved in ESG based finance, the same flaws that the alternative economic media has been warning about for some time.

Several years ago, venture capital was free flowing in large part due to the Federal Reserve’s near-zero interest rates and stimulus measures, and these conditions fueled the ESG cheap money bonanza.  However, the Fed took away the punch bowl and has been continuously raising rates into economic weakness, making ESG lending untenable.  The model that relied so much on perpetual central bank support began to die.

2 Comments on Get Woke, Go Broke: Twitch Streaming Service To Sack 36% Of Employees

  1. All by design. Occult whistle blower warned us they were going to bankrupt their own company’s to bring about an “Atlas Shrugged” type environment to usher in their new weird odor.

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