On Thursday’s Mornings with Maria, Parler CEO George Farmer discussed the current challenges facing the Tech sector. According to Farmer, “The sector is feeling the effects of this interest rate rise and the end of free money,” not surprisingly resulting in layoffs. With firms like Netflix, Carvana, and PayPal together laying off 16,800 workers, and other firms like Microsoft freezing hiring, there is substantial uncertainty about the future. Farmer believes the issues are industry-wide, ascribing them to, “the perfect storm hitting them right now of inflation, of rising interest rates.” 

When asked about COO Sheryl Sandberg’s announced departure from Meta/Facebook, Farmer said, “her decision to step down is probably sensible in some ways because Facebook is facing unprecedented challenges.”  

Regarding the future of potential direct competitors in the social media space, Farmer commented on the impact of Elon Musk’s ongoing attempt to purchase Twitter: “Whatever happens now, Twitter is a damaged brand.” Disclosures during the acquisition process have, Farmer noted, further exposed the prevalence of bots on the site, which may result, among other things, in a lower overall price for Musk. “He’s played this brilliantly in many ways,” complimented Farmer, “hats off to him.”  

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