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What happened in the Tech ecosystem between the end of 2023 and now? 👀
- 📉 S&P 500 Notches First Losing Week Since October Amid Tech Selloff: The stock market kicked off 2024 on a rough note, as major indexes broke their historic winning streaks, with losses concentrated in the biggest stocks responsible for much of last year’s strong gains.
- 🌊 Google to help build the first subsea cable directly connecting South America with Asia-Pacific: Dubbed “Humboldt,” after German polymath and explorer Alexander von Humboldt, the new cable is the latest in more than a dozen similar subsea cables that Google has invested in over the past 15 years, a journey that kicked off in 2010 with Unity that stretched some 6,000 miles across the Pacific Ocean from California to Japan.
- 📲 Meta faces another EU privacy challenge over ‘pay for privacy’ consent choice: Adtech giant Meta’s bid to keep tracking and profiling users of Facebook and Instagram in Europe in spite of the bloc’s comprehensive data protection laws is facing a second challenge from privacy rights advocacy group noyb. It’s supporting a new complaint, which is being filed with the Austrian data protection authority, that alleges the company is breaching EU law by framing a choice that makes it far harder for users to withdraw consent to its tracking ads than to agree.
- 📈 Tech Stocks Bouncing Back: Following two days of big swings in the market, stocks have regained much of what was lost last week. The S&P 500 is down less than half a percent for the year and the Nasdaq Composite has trimmed its losses to 1%. The impetus for this week's rebound has largely been in a combination of last year's leadership stocks as well as a flurry of biotech merger news to kick off 2024.
- 💸 Early-stage fintech startups just got more funding sources: The year began with the announcement of two new venture funds focused on fintech startups. Former Anthemis Group partner Ruth Foxe Blader launched her own firm, Foxe Capital, alongside former Anthemis investment associate Kyle Perez and former principal Sophie Winwood.
As we leave 2023 behind and look forward to new trends in 2024, there's one your company should never let go of: going global.
There's no denying that the last year was challenging. We saw thousands of layoffs happening, alongside the eagerness of a lot of companies to go back to the office completely or to adopt the hybrid model.
However, going global should still be a priority, or at least a big consideration. It's already been shown how global companies benefit from 24/7 customer service due to their team working in different time zones, the amount of satisfaction workers get from this type of freedom, how culturally enriching it is to expand to other markets, and so much more.
All you need to do now is have the courage to take the leap. And never forget that we're here to help you!
More data like this is available in our Global Hiring Report 2024. Download now!
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