The tech industry, considered a beacon of bullish sentiment by some in 2021, has turned sour in 2022.
Laden with rising interest rates and slowing consumer spending, the sector has experienced a slew of layoffs coming from the industry’s most prominent members. Apple Inc. AAPL, Amazon.com Inc. AMZN, Meta Platforms Inc. FB, Intel Corporation INTC and Upstart Holdings Inc. UPST – all super performers in 2021 – have announced plans for a workforce culling. For Meta, as many as 11,000 jobs are on the line.
Twitter, meanwhile, has witnessed quite the tug-of-war in the fight over its ownership. Elon Musk, its proposed buyer, had filed to purchase the company for $44 billion but later attempted to back out of the deal. The billionaire’s turnaround incited a lawsuit from Twitter’s executive team. In a series of events that triggered a media frenzy, debate over the number of spam bots on Twitter and the uncovering of Musk’s private messages, Twitter was finally placed in the hands of Musk at the original $44 billion valuation.
Each of these developments has had a tremendous impact on the world. For investors, the layoffs raised concerns over the sustainability of what many perceive to be “immortal” companies. Meta’s stock, for one, has fallen by 70% in 2022. In the case of Twitter, its importance to the public arises not just from its stock price but from its significant implications on society and politics. For example, Musk has reinstated several previously-banned accounts on the platform in an apparent effort to promote free speech, inciting debate, outrage and questions from many about the foundations of free speech on the internet and in America.
With such a significant impact on society, politics and finance, developments in the technology sector deserve special attention. All stakeholders would do well to monitor them carefully – Luckily, that’s just what FiscalNote NOTE lets you do.
FiscalNote’s Software & Technology Solution
As an agency specializing in collecting data on the regulatory processes in the U.S. and abroad, FiscalNote plays a role in granting stakeholders direct access to vital information.
To tackle the overflow of data in regulation tracking, FiscalNote developed its own ingestion engine, which sifts through the labyrinth of available regulatory data and transforms these into actionable insights. FiscalNote’s engine harnesses data across more than 12,000 local government entities, all 50 states, D.C. and Congress and reportedly holds the largest set of regulatory data from more than 20 countries around the world.
Aside from converting complex regulatory data into actionable insights, FiscalNote also offers custom feeds on the business implications of policy shifts and a social platform to directly reach out to legislation makers. Armed with this technology, users can see major risks and opportunities before they become obvious to the public, potentially granting them an edge over their competitors. They also have a direct gateway to speak to those in charge, an invaluable tool if used to its full potential.
In the case of the technology industry, the company has its Software and Technology product, a one-stop shop for managing policy data. FiscalNote’s product helps you monitor global legislation and regulations, manage key stakeholder relationships and understand the latest news impacting the software and technology industries – all in one place.
Specifically, the platform allows you to:
- Monitor rapidly evolving software & technology policy trends across the U.S.
- Stay ahead of software and tech policy worldwide
- Access expert analysis from their in-house advisory teams
FiscalNote’s technology is trusted by some of the biggest brands in the business, including Uber Technologies Inc. UBER, Microsoft Corp. MSFT, Lenovo LNVGY, fiverr and Zillow ZG.
Did you miss the Twitter takeover debacle? Wish you could’ve caught a hint of the tech layover sooner? With FiscalNote’s Software and Technology product, you may never miss any significant industry event ever again.
Featured Photo by Alexander Shatov on Unsplash
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