Tough times in tech. 
Welcome to the Know the Difference Minute for Tuesday, January 3rd.
After years of explosive growth, layoffs have invaded the tech industry.  Layoffs.FYI is a website that tracks the carnage.  It isn’t fancy but it has been busy reporting 150,000 layoffs last year in tech-driven companies. Facebook parent Meta ran up the score with more than 11,000 in November. Amazon’s count could be 10,000. Too early to tell at Twitter. 
Blame goes to the usual suspects: Rising interest rates and a slowing economy. Healthcare-related tech companies are in a tough spot with an estimated 11,000 layoffs. Same with education tech companies. They did very well during the pandemic before 8000 layoffs in 2022. 
One sector doing well for now is Travel Tech. After getting crushed during the pandemic, it has seen a nice bounceback.  Other bright spots include data analytics and automation.  
I’m Dave Spano from Annex Wealth Management.  That is your Know the Difference Minute.