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Istanbul, Turkey · IstanbulA lot of money was thrown around as the pandemic hit. The US Federal Reserve set interest rates near zero, so borrowing money was easy and cheap, and VCs funnelled that money into a sector that was booming at the time: games. Player spending on mobile games was estimated to reach $89.6bn across the Apple Store and Google Play Stores in 2021, 12% growth over an already successful 2020, according to Sensor Tower data. So everyone wanted a piece, w…Read Article
Where did all the VC money go?
Layoffs · BarcelonaKing workers in Barcelona will gather outside their office tomorrow to protest the 75 layoffs slated at the studio. The cuts are part of the 200 or more layoffs taking place across King this summer. Some of those staff will be effectively replaced by the AI tools they created and built, we’re told. The protest is being organised by Spanish game workers union CSVI. A statement on the organisation’s website, translated from Spanish, reads: “King’s…Read Article
