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Tech’s new business model: ‘Do more with less’


Sundar Pichai, CEO of Alphabet, speaks during an event in New Delhi, December 19, 2022.Sajjad Hussain | AFP | Getty ImagesIt’s been a week since earnings season for mega-cap tech came to an end, with Apple’s report last Thursday. A theme investors heard from top execs across Silicon Valley and beyond was it’s time to “do more with less.”Cost cuts that kicked into gear in late 2022 ramped up in the first quarter and are continuing into the second. Microsoft CEO Satya Nadella told staffers Wednesday there will be no salary increases for full-time employees, after the company announced 10,000 job cuts earlier this year.related investing news 5 hours ago Even as industry giants are enjoying rebounding stock prices from a brutal 2022, they’re making it clear customers will be conservative with their spending for at least the near future and the days of tech excess are behind us.Alphabet CEO Sundar Pichai, who has taken flak from his workforce for receiving a stock award of over $200 million while the company downsizes, has been focused on efficiency. In the company’s earnings call in late April, business chief Philipp Schindler described a “macro environment of do more with less.”That phrase has found its way into several recent tech earnings calls. Jeff Green, CEO of digital ad-buying company Trade Desk, said content owners are dealing with a challenging market to try and grow profitably, “so what that means is people need to do mor …

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