Startups spring from ashes of Big Tech purge

Published by
Reuters UK

By Supantha Mukherjee, Martin Coulter and Krystal Hu (Reuters) – Nic Szerman lost his job at Meta Platforms in November, just two months after joining full-time, falling victim to a sweeping 13% reduction of its workforce as the advertising market cratered. Days later he was back working, seeking investment for his own company Nulink, a blockchain-based payment company, and sent pitches to startup accelerator Y Combinator and Andreessen Horowitz’s cryptocurrency fund. “As counterintuitive as it may sound, this layoff left me in a really good position,” the 24-year-old said. “Because I don’t ha…

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