Before we get to today’s main topic—the slight cracks emerging in Disney’s streaming strategy—a couple of spare thoughts on the biggest story of the day.
Meta notified employees Wednesday morning that it’s laying off about 11,000 staff members, or 13% of its workforce, the company’s first major restructuring in its history. Mark Zuckerberg took responsibility for the cuts, admitting that he failed to foresee how many people would scale back their app usage as life returned to pre-pandemic normal.
