Big Tech's Layoffs Will Fuel the Industry's Future

Welcome to Plaintext, the newsletter that's cheaper than a blue check mark--and guaranteed bot-free! This was the month when Big Tech got smaller. The leader in the shrinkage was a troubled Twitter, led by a new owner who, after trying to weasel out of his $44 billion commitment to buy the firm, has thrown himself into the task of fixing its problems. Job One was getting rid of half the workers behind the money-losing platform. But Twitter was far from alone in stripping employees of their salaries, health plans, and email addresses.