The last several months have been very tough for Big Tech and Big Tech investors.
Most major tech stocks are in the gutters, which has created an all-out panic in silicon valley amongst Big Tech elites.
And “woke” Apple executives are ducking for cover after this internal revolt.
Big Tech is finally facing the consequences for years of “wokeness” and mismanagement
In recent months, most major Big Tech stocks have plummeted. Tesla, Twitter, Facebook, Netflix, you name it and it is significantly down.
This massive slide is forcing major tech companies to completely rethink how they do business.
Twitter for example famously sold out to Tesla owner Elon Musk, and many other major tech companies are also looking to move their companies in new directions.
Massive layoffs have ensued at many Big Tech companies, as well as major cuts to benefits and salaries.
One person who just got a major pay cut is none other than Apple CEO, Tim Cook.
According to CNBC, Tim Cook’s pay will be cut by 40% following a scathing shareholders meeting.
More specifically, per a filing Apple submitted to the Securities and Exchange Commission (SEC), Tim Cook is set to receive $49 million in total compensation this year, which is a whopping $34 million less than last year.
This massive pay cut proves several things about Big Tech and how Facebook is reacting to Big Tech’s recent financial decline.
First, it proves that shareholders are furious about the way that Apple is being run right now. And it is hard to blame them after the decline Apple stock has had in recent months.
It also proves that Big Tech’s best days may be behind them unless they make radical changes. This massive pay cut is likely just the beginning for Apple and other Big Tech companies.
Shareholders of Apple and other major tech companies have every right to be outraged by the way they have conducted business, as well as the many scandals that are plaguing their industry regarding “wokeness” and censorship.
It is not just shareholders that are fed up with Big Tech, but rather the general public is getting fed up with Big tech as well.
If Facebook, Apple and other tech companies ever hope to become profitable tech giants again, then major changes will need to happen from the top down.
Slashing CEO salaries is a refreshing sign that Big Tech is starting to wake up to this fact, and it will be very interesting to see what other changes come in the near future.
People do not want to use platforms that wear their political agenda on their sleeves or actively censor their users for not falling in line with some radical agenda.
Stay tuned to Unmuzzled News for any updates to this ongoing story.