Tag Archives: Silicon Valley

Inflation impacting Big Tech industry

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Important Takeaways:

  • Bidenomics Hits Tech: Silicon Valley Salaries Plummet amid Layoffs and Economic Uncertainty
  • The Mercury News reports that Silicon Valley, long known as the epicenter of innovation and high-paying tech jobs, is facing a harsh reality as companies tighten their belts and slash jobs and salaries. According to recent research by Women Impact Tech, a tech advocacy organization, Silicon Valley has experienced the biggest drop in pay compared to other tech hubs, falling 15 percent from 2022 to 2023.
  • The impact of these layoffs and salary cuts is felt by many, including Krista DeWeese, a 47-year-old marketing professional from Fremont. DeWeese has been laid off four times in the last eight years and is currently working as a contract worker at a health science company. Despite her education and experience, she struggles to find secure work that pays enough to keep up with the high cost of living in the Bay Area.
  • Fresh graduates are also feeling the pinch. Genevieve Richards, a San Jose native who graduated from Cornell University in 2022, applied to 300 jobs after her internship ended, only to be offered progressively lower salaries. She decided to pursue a graduate degree abroad in Dublin, Ireland, where she found a better work-life balance and more affordable living conditions.

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Tech Layoffs Increasing

Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

  • Silicon Valley layoffs go from bad to worse
  • Amazon is cutting more than 18,000 jobs, nearly double the 10,000 that had previously been reported and marking the highest absolute number of layoffs of any tech company in the recent downturn.
  • Cloud-computing company Salesforce said it was axing about 10% of its staff – a figure that easily amounts to thousands of workers
  • Video-sharing outlet Vimeo said it was cutting 11% of its workforce.
  • The following day, digital fashion platform Stitch Fix said it planned to cut 20% of its salaried staff, after having cut 15% of its salaried staff last year.
  • According to Challenger, Gray & Christmas, tech layoffs “were up 649% in 2022”
  • Heading into 2023, recession fears and economic uncertainties are still weighing heavily on consumers and policymakers’ minds, and interest rate hikes are expected to continue

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Gunman kills 8 co-workers at California rail yard; attacker also dead

By Peter DaSilva and Jonathan Allen

SAN JOSE, Calif. (Reuters) -A transit employee shot eight co-workers to death and was himself killed at a commuter rail yard in San Jose, California, on Wednesday, authorities said, in the latest burst of deadly mass gun violence to grip the United States.

Authorities did not immediately offer many details or a possible motive for the shooting, which unfolded about 6:30 a.m. Pacific Time (1330 GMT) at a light-rail yard of the Santa Clara Valley Transportation Authority (VTA).

A bomb squad was searching the yard after at least one explosive device was found, Santa Clara County Sheriff’s Deputy Russell Davis said at a news conference.

Davis did not say how the assailant died or whether police officers called to the scene had fired their weapons.

San Jose’s mayor, Sam Liccardo, said authorities also had responded to a fire at the home of the suspect, though no one was found inside.

The gunman and all eight victims were employees of the transit agency situated near the city’s airport, officials said. Authorities did not give the gunman’s name or age.

The San Jose Mercury News and other media outlets identified him as Samuel Cassidy, 57, a maintenance worker at the yard.

Cassidy had worked for the transit authority since at least 2012, when he was listed as an “electro-mechanic,” and was promoted to “substation maintainer” in 2015, according to records posted by the nonprofit website Transportation California.

Last year, he earned a salary of $102,000, plus benefits and $20,000 in overtime, the records showed.

Local television station KTVU-TV reported that Cassidy had been married for 10 years and divorced in 2019, citing an interview with his ex-wife, who reportedly told the station she had little contact with him over the past decade.

‘ESSENTIAL WORKERS’

“A horrible tragedy has happened today and our thoughts and love go out to the VTA family,” Glenn Hendricks, chairman of the VTA board, said at the news conference.

He said the shooting took place in a section of the rail yard where workers perform maintenance on vehicles, and was not in the facility’s operations and control center.

San Jose, a city of about 1 million residents, lies at the heart of Silicon Valley, a global technology hub and home to some of America’s biggest high-tech companies.

“These are, and were, essential workers,” Liccardo said of the victims.

“These VTA employees helped us get through this horrific pandemic. They were showing up everyday to operate light rail and buses to ensure people could still go about their lives in the middle of the challenge of the pandemic. And they were taking risks with their own lives in doing so,” the mayor said.

He said he was aware of news reports of a fire at the house of the man the authorities believed to be the shooter.

“That is certainly the information that I have, is that there was a fire at the shooter’s home, there was nobody found inside the home, thank God,” Liccardo told CNN affiliate KGO in an interview. “This is every mayor’s worst nightmare.”

Multiple fire department, police and bomb squad vehicles were still parked outside the suspect’s house, along a cul-de-sac in southeastern San Jose, hours after the shooting.

An explosives-detecting robot sat in the street near the home while two bomb squad technicians entered the ranch-style house. Arson investigators along with agents of the FBI and U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives were also present.

U.S. President Joe Biden was briefed on the shooting, and his staff continued to monitor the situation while keeping in close contact with local officials to offer any assistance needed, the White House said.

“Our hearts go out to the victims and their families,” White House spokeswoman Karine Jean-Pierre told reporters.

Mass gun violence, commonplace in a country with one of the highest rates of firearm ownership in the world, has escalated considerably following a year-long lull as the United States emerged from the worst of the COVID-19 pandemic this spring.

Wednesday’s incident was the latest of at least eight deadly U.S. mass shootings in the past three months, including a string of attacks at Atlanta-area day spas in mid-March and a rampage days later that left 10 people dead at a Colorado supermarket. Last month, a former employee of an Indianapolis FedEx center shot eight workers to death and then took his own life.

(Reporting by Peter Szekely, Jonathan Allen and Maria Caspani in New York; Additional reporting by Trevor Hunnicutt, Barbara Goldberg and Brendan O’Brien; Writing by Steve Gorman; Editing by Howard Goller and Sonya Hepinstall)

Ethical question takes center stage at Silicon Valley summit on artificial intelligence

FILE PHOTO: A research support officer and PhD student works on his artificial intelligence projects to train robots to autonomously carry out various tasks, at the Department of Artificial Intelligence in the Faculty of Information Communication Technology at the University of Malta in Msida, Malta February 8, 2019. REUTERS/Darrin Zammit Lupi

By Jeffrey Dastin and Paresh Dave

SAN FRANCISCO (Reuters) – Technology executives were put on the spot at an artificial intelligence summit this week, each faced with a simple question growing out of increased public scrutiny of Silicon Valley: ‘When have you put ethics before your business interests?’

A Microsoft Corp executive pointed to how the company considered whether it ought to sell nascent facial recognition technology to certain customers, while a Google executive spoke about the company’s decision not to market a face ID service at all.

The big news at the summit, in San Francisco, came from Google, which announced it was launching a council of public policy and other external experts to make recommendations on AI ethics to the company.

The discussions at EmTech Digital, run by the MIT Technology Review, underscored how companies are making a bigger show of their moral compass.

At the summit, activists critical of Silicon Valley questioned whether big companies could deliver on promises to address ethical concerns. The teeth the companies’ efforts have may sharply affect how governments regulate the firms in the future.

“It is really good to see the community holding companies accountable,” David Budden, research engineering team lead at Alphabet Inc’s DeepMind, said of the debates at the conference. “Companies are thinking of the ethical and moral implications of their work.”

Kent Walker, Google’s senior vice president for global affairs, said the internet giant debated whether to publish research on automated lip-reading. While beneficial to people with disabilities, it risked helping authoritarian governments surveil people, he said.

Ultimately, the company found the research was “more suited for person to person lip-reading than surveillance so on that basis decided to publish” the research, Walker said. The study was published last July.”

Kebotix, a Cambridge, Massachusetts startup seeking to use AI to speed up the development of new chemicals, used part of its time on stage to discuss ethics. Chief Executive Jill Becker said the company reviews its clients and partners to guard against misuse of its technology.

Still, Rashida Richardson, director of policy research for the AI Now Institute, said little around ethics has changed since Amazon.com Inc, Facebook Inc, Microsoft and others launched the nonprofit Partnership on AI to engage the public on AI issues.

“There is a real imbalance in priorities” for tech companies, Richardson said. Considering “the amount of resources and the level of acceleration that’s going into commercial products, I don’t think the same level of investment is going into making sure their products are also safe and not discriminatory.”

Google’s Walker said the company has some 300 people working to address issues such as racial bias in algorithms but the company has a long way to go.

“Baby steps is probably a fair characterization,” he said.

(Reporting By Jeffrey Dastin and Paresh Dave in San Francisco; Editing by Greg Mitchell)

Flooding forces hundreds from homes in San Jose, California

Rescuers from the San Jose Fire Department pilot boats while evacuating residents of Nordale Avenue after the Coyote Creek flooded parts of San Jose, California, U.S. February 21, 2017. Courtesy of Chris Smead/Csmeadphotography/Handout via REUTERS

By Alex Dobuzinskis

(Reuters) – Murky, waist-high floodwaters swamped neighborhoods along a rain-swollen creek in the northern California city of San Jose on Tuesday, prompting authorities to issue evacuation orders or advisories for more than 1,000 homes, city officials said.

The state’s third-largest city, a hub of the high-tech Silicon Valley corridor south of San Francisco, has about 1 million residents and declared an emergency as Coyote Creek overflowed its banks from days of heavy showers.

The trash-strewn floodwaters inundated whole city blocks, submerging parked cars and lapping at the walls of apartments and townhouses, as firefighters in inflatable boats ferried stranded residents to dry ground.

About 300 homes were ordered evacuated in low-lying Rock Springs, and city officials urged residents of roughly 200 dwellings in the Williams Street neighborhood downstream to leave their homes, city spokesman David Vossbrink said.

After dark, fire department crews began going door to door advising residents of three creek-side mobile home parks, consisting of about 600 trailers, to move to higher ground, Vossbrink said, adding that the stream was continuing to rise.

At a news conference earlier in the day, Mayor Sam Liccardo acknowledged that municipal officials should have moved more quickly in evacuating the Rock Springs area.

“As I sit here today and I look out at a neighborhood that’s completely inundated with water … there’s no question in my mind there was a failure of some kind,” he said.

City officials had no reports of injuries, deaths or people missing, said Vossbrink, who estimated at least 300 homes were damaged by flooding.

The San Jose Fire Department advised a decontamination cleansing for those immersed in floodwaters to get rid of hazardous pollutants.

The latest series of downpours that swept northern California on Sunday and Monday weakened on Tuesday, the National Weather Service said. Meteorologists said the storms were spawned by an “atmospheric river” bringing moisture from the Pacific Ocean.

Last week a string of storms triggered a crisis near the Lake Oroville Dam about 100 miles (160 km) northeast of San Francisco, where damage to two spillways prompted an evacuation of more than 100,000 people downstream.

California is slowly recovering from five years of drought thanks to several months of unusually wet weather.

At least 3 inches (8 cm) of rain fell in many areas, though some received far more, such as the sparsely populated Big Sur region and outside the city of Santa Rosa, which got more than 8 inches (20 cm), the weather officials said.

The next heavy storm is expected to hit Northern California this weekend, they added.

(Reporting by Alex Dobuzinskis in Los Angeles; Additional reporting and Writing by Steve Gorman in Los Angeles; Editing by James Dalgleish and Clarence Fernandez)