The era of moonshots and free sushi lunches is ending as tech companies double down on their core purpose: making lots of money.
At the end of 2022, nearly 30 percent of San Francisco’s commercial office space was empty, compared with just 3 percent at the end of 2019, according to CBRE, the global real estate services company.
. Zuckerberg said he’s planning to deploy new artificial intelligence tools to help engineers become more productive and cut projects that aren’t performing or are no longer crucial to the company’s priorities. Facebook is still investing huge sums in building out products for the— a loosely defined term for a set of digital worlds that the company hopes will be the next major platform for work, recreation and commerce. It even rebranded itself as Meta in 2021.
Those massive rivers of money allowed the companies to spend big. Competition for tech workers led to a years-long arms race, in which companies offered such perks as Google in particular had a reputation around Silicon Valley as being a place where workers could spend their entire careers, moving between projects and steadily progressing up the pay levels while collecting valuable stock options. The company encouraged workers to be
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