The Guardian view on big tech: pop! goes the bubble | Editorial

The behemoths of Silicon Valley face some serious shrinkage and a reckoning with the societies they work inFacebook, Instagram, Twitter, Amazon: these behemoths have shaped our world. This winter, however, the world is shaping them. Faced with a global downturn, a US economy that appears headed for recession and interest rates shooting up across the west, big tech is in big trouble. This week, Meta – the company that owns Facebook, WhatsApp and Instagram – declared it will sack 11,00