Mark Zuckerberg told Meta Platforms employees last week that the company is buckling up for a dramatic economic slowdown, cautionary words that legal and corporate governance experts say will ripple through the entire tech sector.

“If I had to bet, I’d say that this might be one of the worst downturns that we’ve seen in recent history,” Zuckerberg said in a Q&A with employees Thursday. Reuters exclusively obtained an audio recording of the discussion.