“I expect that we're still going to hire in key areas, but newly budgeted headcount growth is going to be relatively low.”

In context

“eaner organization and some of the cultural changes that we've made can build higher-quality products faster and this is probably the biggest example so far. The year of efficiency was always about two different goals, becoming an even stronger technology company and improving our financial results, so we can invest aggressively in our ambitious long-term roadmap. Now that we've gotten through the major layoffs, the rest of 2023 will be about creating stability for employees, removing barriers that slow us down, introducing new AI-powered tools to speed us up and so on. Over the next few months, we're going to start planning for 2024 and I'm going to be focused on continuing to run the company as lean as possible for these cultural reasons, even though our financial results have improved. I expect that we're still going to hire in key areas, but newly budgeted headcount growth is going to be relatively low. Now that said, as part of this year's layoffs, many teams chose to let people go in order to hire different people with different skills that they need. So, much of that hiring is going to spill into 2024. The other major budget point that we're working through is what the right level of AI CapEx is to support our roadmap. Since we don't know how quickly our new AI products will grow, we may not have a clear handle on this until later in the year. Now moving on to our product roadmap, I've said on a number of these calls that the two technological waves that we're riding are AI in the near-term and the Metaverse over the longer-term. Investments that we've made over the years in AI, including the billions of dollars we've spent on AI infrastructure are clearly paying-off across our rankin”