Founders and investors who ditched the Bay Area for Miami and elsewhere are returning to a boom in artificial intelligence and an abundance of tech talent.
After a pandemic-induced exodus from San Francisco by founders, Silicon Valley figures, and tech executives, there is a notable return to the city, driven by its resurgence as a hub for emerging tech.
Expense management startup Brex, which was valued at $12.3 billion two years ago, laid off 282 people, or about 20% of its staff today. The once high-flying fintech startup sent a note to employees (that was also published on the company’s website) today, announcing the news. In addition, Brex announced that its COO, Michael Tannenbaum, is transitioning from his role to become a board member.
Tech layoffs: TikTok, Riot Games and Brex cut hundreds of jobs sfchronicle.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sfchronicle.com Daily Mail and Mail on Sunday newspapers.