Companies are planning smaller raises this year, according to a new survey of chief financial officers from Gartner. From a report: It's become harder to find a job, particularly in the white-collar world. So employers are far less worried about people quitting and don't need to do as much to get workers to stick around. "Nobody is talking about the Great Resignation anymore," says Randeep Rathindran, a vice president in the finance practice at Gartner. The vast majority of employers, 94%, are still planning raises this year, per Gartner, which surveyed 300 CFOs and finance executives. The amounts are just smaller now. The share of CFOs planning to raise average employee compensation by 4% or more in 2025 fell to 61% from 86% in 2023.

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An anonymous reader quotes a report from TechCrunch: TechCrunch gathered data from several sources and found similar trends. In 2024, 966 startups shut down, compared to 769 in 2023, according to Carta. That's a 25.6% increase. One note on methodology: Those numbers are for U.S.-based companies that were Carta customers and left Carta due to bankruptcy or dissolution. There are likely other shutdowns that wouldn't be accounted for through Carta, estimates Peter Walker, Carta's head of insights. [...] Meanwhile, AngelList found that 2024 saw 364 startup winddowns, compared to 233 in 2023. That's a 56.2% jump. However, AngelList CEO Avlok Kohli has a fairly optimistic take, noting that winddowns "are still very low relative to the number of companies that were funded across both years." Layoffs.fyi found a contradicting trend: 85 tech companies shut down in 2024, compared to 109 in 2023 and 58 in 2022. But as founder Roger Lee acknowledges, that data only includes publicly reported shutdowns "and therefore represents an underestimate." Of those 2024 tech shutdowns, 81% were startups, while the rest were either public companies or previously acquired companies that were later shut down by their parent organizations. So many companies got funded in 2020 and 2021 at heated valuations with famously thin diligence, that it's only logical that up to three years later, an increasing number couldn't raise more cash to fund their operations. Taking investment at too high of a valuation increases the risk such that investors won't want to invest more unless business is growing extremely well. [...] Looking ahead, Walker also expects we'll continue to see more shutdowns in the first half of 2025, and then a gradual decline for the rest of the year. That projection is based mostly on a time-lag estimate from the peak of funding, which he estimates was the first quarter of 2022 in most stages. So by the first quarter of 2025, "most companies will have either found a new path forward or had to make this difficult choice." "Tech zombies and a startup graveyard will continue to make headlines," said Dori Yona, CEO and co-founder of SimpleClosure. "Despite the crop of new investments, there are a lot of companies that have raised at high valuations and without enough revenue."

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The EFF has complained that in general "smart" products for babies "collect a ton of information about you and your baby on an ongoing basis". (For this year's "worst in privacy" product at CES they chose a $1,200 baby bassinet equipped with a camera, a microphone, and a radar sensor...) But today the Washington Post reported on a $1,700 bassinet that surprised the mother of a one-month-old when it "abruptly demanded money for a feature she relied on to soothe her baby to sleep." The internet-connected bassinet... reliably comforted her 1-month-old — just as it had her first child — until it started charging $20 a month for some abilities, including one that keeps the bassinet's motion and sounds at one level all night. The level-lock feature previously was available without a fee. "It all felt really intrusive — like they went into our bedroom and clawed back this feature that we've been depending on...." When the Snoo's maker, Happiest Baby, introduced a premium subscription for some of the bassinet's most popular features in July, owners filed dozens of complaints to the Federal Trade Commission and the Better Business Bureau, coordinated review bombs and vented on social media — saying the company took advantage of their desperation for sleep to bait-and-switch them... Happiest Baby isn't the only baby gear company that has rolled out a subscription. In 2023, makers of the Miku baby monitor, which retails for up to $400, elicited similar fury from parents when it introduced a $10 monthly subscription for most features. A growing number of internet-connected products have lost software support or functionality after purchase in recent years, such as Spotify's Car Thing — a $90 Bluetooth streaming device that the company announced in May it plans to discontinue — and Levi's $350 smart jacket, which let users control their phones by swiping sensors on its sleeve... Seventeen consumer protection and tech advocacy groups cited Happiest Baby and Car Thing in a letter urging the FTC to create guidelines that ensure products retain core functionality without the imposition of fees that did not exist when the items were originally bought. The Times notes that the bassinets are often resold, so the subscription fees are partly to cover the costs of supporting new owners, according to Happiest Baby's vice president for marketing and communications. But the article three additional perspectives: "This new technology is actually allowing manufacturers to change the way the status quo has been for decades, which is that once you buy something, you own it and you can do whatever you want. Right now, consumers have no trust that what they're buying is actually going to keep working." — Lucas Gutterman, who leads the Public Interest Research Group's "Design to Last" campaign. "It's a shame to be beholden to companies' goodwill, to require that they make good decisions about which settings to put behind a paywall. That doesn't feel good, and you can't always trust that, and there's no guarantee that next week Happiest Baby isn't going to announce that all of the features are behind a paywall." — Elizabeth Chamberlain, sustainability director at iFixit. "It's no longer just an out-and-out purchase of something. It's a continuous rental, and people don't know that." — Natasha Tusikov, an associate professor at York University

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Non-fungible tokens and memecoins are neither securities nor commodities, according to White House crypto czar David Sacks. Instead, he defines them as "collectibles." From a report: "It's like a baseball card or a stamp," Sacks said in an interview with Fox Business on Thursday, referencing Trump's explosively popular memecoin. "People buy it because they want to commemorate something." The famous venture capitalist's comments touched on a long-running debate about the crypto industry in general: how exactly to treat different digital assets. Some argue that digital assets are securities, which are tradable financial assets like stocks. But others say they're commodities, or raw materials that can be bought and sold, like gold and wheat. The classification differences have vast regulatory implications. "There's a few different categories here, so defining the market structure is important," said Sacks.

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Walgreens Boots Alliance has ended a $200 million digital display venture with startup Cooler Screens after widespread technical failures and poor revenue, removing thousands of smart screens from its store freezer doors [non-paywalled link]. The screens, which displayed product information and ads, frequently crashed, showed incorrect inventory, and occasionally caught fire, Bloomberg reports. Cooler Screens CEO Arsen Avakian cut data feeds to over 100 Chicago-area stores in December 2023 during a contract dispute, prompting Walgreens to obtain a restraining order. Walgreens completed removal of 10,300 screens from 700 stores in August 2024, replacing them with traditional glass doors. The screens generated just $215 per door annually, less than half the contractual minimum, according to Walgreens. Nearly $50 million worth of custom-made screens now sit unused in a Texas warehouse.

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Chinese venture capital and private equity firm HongShan, formerly part of Sequoia, said on Friday it has struck a deal to acquire a majority stake in Marshall in a deal valuing the audio equipment maker at $1.15 billion.

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An anonymous reader quotes a report from Reuters: E-commerce giant Amazon.com is exiting its operations in the Canadian province of Quebec, leading to the loss of about 1,700 full-time jobs, the company said on Wednesday, prompting Ottawa to express its unhappiness. The online retailer will phase out operations across seven sites in the province -- the only location in Canada with unionized Amazon employees -- over the next two months. It will return to a third-party delivery model, relying on local small businesses, similar to its approach before 2020. "Following a recent review of our Quebec operations, we've seen that returning to a third-party delivery model ... will allow us to provide even more savings to our customers," Amazon spokesperson Barbara Agrait said. The move will affect approximately 250 seasonal workers. Amazon will offer affected employees a package including up to 14 weeks' pay and "transitional benefits such as job placement resources," Agrait added. "This is not the way business is done in Canada," said Federal Innovation Minister Francois-Philippe Champagne. "There is no doubt that the closings announced today are part of an anti-union campaign against CSN and Amazon employees," said CSN president Caroline Senneville in a statement. "This move contradicts the provisions of the Quebec Labour Code, which we will strongly oppose," Senneville added.

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Netflix will raise prices on most U.S. and Canadian subscription tiers after adding a record 19 million subscribers in the fourth quarter of 2024, bringing its global total to 302 million users. The standard plan without ads will increase to $17.99 from $15.49, while its premium tier rises $2 to $24.99. The ad-supported tier will cost $7.99, up $1. The streaming service's quarterly revenue topped $10 billion for the first time, jumping 16%, while operating income rose 52% to $2.3 billion. The company credited recent successes including the Mike Tyson-Jake Paul boxing match and "Squid Game" season two for the subscriber surge.

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IMDb founder Col Needham is stepping down as CEO after 35 years, transitioning to executive chair. He will be succeeded by Nikki Santoro, who has served as the chief operating officer since 2021. TechCrunch reports: Santoro's appointment is significant, as she is the first woman to become the CEO and only the second person to hold the position. Needham founded IMDb in 1990 at the age of 23, steering the company into a powerhouse within the entertainment industry. After 35 years, he'll transition to a new role as executive chair. According to Needham, Santoro's ascension is well deserved. [...] Santoro has been with the company since 2016, leading the company in expanding its database and improving its IMDbPro membership. She previously held leadership positions at Amazon, Microsoft, and The Weather Channel. "Nikki's strategic vision, deep understanding of our customers and products, and commitment to innovation have already delivered impressive business results during her tenure as COO," said Needham in a statement. "Her track record of driving growth and enhancing our products and services makes her the ideal person to guide IMDb into a new era."

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EFishery, one of Indonesia's most prominent startups, may have inflated its revenue and profit over several years, according to an internal investigation triggered by a whistleblower's claim about the company's accounting. Bloomberg News: A preliminary, ongoing probe into the agritech startup, backed by investors including SoftBank and Temasek, estimates that management inflated revenue by almost $600 million in the nine months through September last year, according to a 52-page draft report circulated among investors and reviewed by Bloomberg News. That would mean more than 75% of the reported figures were fake, the report said. EFishery, which deploys feeders to fish and shrimp farmers in Indonesia, was a darling of the nation's startup scene and scored a valuation of $1.4 billion when G42, an AI firm controlled by United Arab Emirates royal Sheikh Tahnoon bin Zayed Al Nahyan, backed its latest funding round. It has raised hundreds of millions of dollars in an attempt to modernize the country's fish industry, providing farmers with smart feeding devices as well as feed, and then buying their produce to sell into the broader market.

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An anonymous reader quotes a report from The Verge: Bumble founder and executive chair Whitney Wolfe Herd, who stepped down as CEO at the beginning of 2024, is returning to the post in mid-March. Former Slack CEO Lidiane Jones, who succeeded Herd, has resigned for "personal reasons" and will remain in the role until Wolfe Herd takes over. "As I step into the role of CEO, I'm energized and fully committed to Bumble's success, our mission of creating meaningful, equitable relationships, and our opportunity ahead," Wolfe Herd says in a statement. "We have exciting innovation ahead for Bumble in this bold new chapter." Bumble's share price has dropped by half since the app introduced a redesign and feature in April that let men send the first message in response to prewritten questions. "Bumble gained popularity in part because it was set up for women to message their matches first," notes The Verge. "In Bumble's most recent earnings report, it said that the number of paying users had increased from 3.8 million to 4.3 million over the last year, however, average revenue per paying user dropped from $23.42 to $21.17, and its total revenue dropped slightly."

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Canon is requiring users to pay a monthly subscription fee to fully use their cameras as webcams on computers. The company's new EOS Webcam Utility software restricts features like HD resolution, brightness adjustments and color correction unless users pay $4.99 monthly or $49.99 annually.

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Megan Hellerer, a career coach and founder of Coaching for Underfulfilled Overachievers, offers an alternative to the relentless "hustle culture" and "destinational living" mindsets, which often emphasize long-term goals at the expense of present happiness. "There's another way and I call it directional living," writes Hellerer. "Here's the catch: I can't find fulfilment for you. The good news is that it's all up to you..." An anonymous Slashdot reader shares an excerpt from the report published by The Guardian: Directional living is like the scientific method but for life. You begin with a hypothesis -- your best guess as to the direction of a loose "something bigger". You conduct tests and collect data through your experiences, refining your life hypothesis as you go. If you have a hypothesis that involves living on the beach, you may test that by renting a house on the coast for one month and collecting data on how right, or not, that is for you. The goal is not to permanently relocate but to find out whether you want to continue exploring that path. Success is in finding what's true, not in proving your original theory correct. I've found this idea speaks uniquely to UFOAs at this moment in time. [UFOA is a term Hellerer came up with that stands for "underfulfilled overachiever." This describes a constant striver who is living a great-on-paper life, yet feels disconnected from their work, life and self.] The closest thing I have to a personal motto is a quotation that's widely attributed to Carl Jung but that, as it turns out, he never actually said at all. "The privilege of a lifetime is to become who you truly are." My greatest hope for you is that you get to live this privilege fully.

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Diamond Comic Distributors, the world's biggest English language comic book distributor, is filing for bankruptcy and scaling its business back in order to survive. The Verge reports: In a letter sent to comics retailers and publishers today, Diamond president Chuck Parker announced that the company has filed for Chapter 11 Bankruptcy and plans to sell off its Alliance Game Distributors arm to Universal in order to "protect the most vital aspects of our business." Founded in 1982 by Stephen A. Geppi (who still serves as CEO), Diamond became a heavyweight in the comics business by securing a number of exclusive distribution agreements with various publishing houses like DC, Marvel, and Image. For decades, Diamond -- which also publishes its Previews magazine showcasing upcoming titles -- was instrumental in bringing comics to market and played a huge role in determining a book's success because of how Previews influenced retailer orders. "This decision was not made lightly, and I understand that this news may be as difficult to hear as it is for me to share," Parker said. "The Diamond leadership team and I have worked tirelessly to avoid this outcome but the financial challenges we face have left us with no other viable option."

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Nearly a quarter of Harvard Business School's 2024 M.B.A. graduates remained jobless three months after graduation, highlighting deepening employment challenges at elite U.S. business schools. The unemployment rate for Harvard M.B.A.s rose to 23% from 20% a year earlier, more than double the 10% rate in 2022. Major employers including McKinsey, Amazon, Google, and Microsoft have scaled back M.B.A. recruitment, with McKinsey cutting its hires at University of Chicago's Booth School to 33 from 71. "We're not immune to the difficulties of the job market," said Kristen Fitzpatrick, who oversees career development at Harvard Business School. "Going to Harvard is not going to be a differentiator. You have to have the skills." Columbia Business School was the only top program to improve its placement rate in 2024. Median starting salaries for employed M.B.A.s remain around $175,000.

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A week after announcing performance-based job cuts similar to those at Meta, Microsoft said it also plans to pause hiring in part of its consulting unit. CNBC reports: The changes by the U.S. consulting division are meant to align with a policy by the Microsoft Customer and Partner Solutions organization, which has about 60,000 employees, according to a page on Microsoft's website. The changes are in place through the remainder of the 2025 fiscal year ending in June. To reduce costs, Microsoft's consulting division will hold off on hiring new employees and back-filling roles, consulting executive Derek Danois told employees in the memo. Careful management of costs is of utmost importance, Danois wrote. The memo also instructs employees to not expense travel for any internal meetings and use remote sessions instead. Additionally, executives will have to authorize trips to customers' sites to ensure spending is being used on the right customers, Danois wrote. Additionally, the group will cut its marketing and non-billable external resource spend by 35%, the memo says. Further reading: Companies Deploy AI To Curb Hiring as 'Cost Avoidance' Gains Ground

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Tech workers at major U.S. companies are earning thousands of dollars by referring job candidates they've never met, creating an underground marketplace for employment referrals at firms like Microsoft and Nvidia, according to Bloomberg. One tech worker cited in the report earned $30,000 in referral bonuses after recommending over 1,000 strangers to his employer over 18 months, resulting in more than six successful hires. While platforms like ReferralHub charge up to $50 per referral, Goldman Sachs and Google said such practices violate their policies. Google requires referrals to be based on personal knowledge of candidates.

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One in five online job postings may be "ghost jobs" that companies never intend to fill, according to new data from hiring platform Greenhouse examining its clients' recruitment patterns in 2024. The analysis found that 18-22% of advertised positions across technology, finance, and healthcare sectors went unfilled, while nearly 70% of companies posted at least one ghost job in the second quarter of 2024. Construction, arts, food and beverage, and legal industries showed the highest rates of ghost listings. In response, Greenhouse and LinkedIn have introduced verification systems for job postings. LinkedIn reports more than half its listings are now tagged as "verified," indicating confirmed open positions. Companies maintain ghost listings for various reasons, including projecting growth, keeping options open for exceptional candidates, or meeting federal posting requirements, said Jon Stross, Greenhouse's president and co-founder.

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Sonos Chief Executive Patrick Spence stepped down on Monday, following a tumultuous period marked by a botched app rollout that angered customers and hurt sales of its new headphones. Board member Tom Conrad, a former Pandora chief technology officer, will serve as interim CEO while the audio equipment maker searches for a permanent replacement, the company said. Spence's departure comes eight months after Sonos released a revamped app that launched with missing features and technical problems, leading to widespread customer complaints and necessitating an extensive fix-it effort. The company will pay Spence, who joined Sonos in 2012 as chief commercial officer, a $1.875 million severance package. He will remain as a strategic advisor until June 30, earning $7,500 monthly, according to a regulatory filing.

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