The era of cheap money led to a lot of mergers and acquisitions, which incentivized companies large and small to bloat to increase their value to prospective buyers.
I really don’t think this is AI causing all these layoffs. It’s just a return to business fundamentals, but we’re in a period of massive inflation and it’s getting harder to be profitable.
But where are they racing? If AGI happens, capitalism is over. If AGI won't happen, they just wasted massive amount of resource in chasing of a white elephant and these companies are over.
At least the article is honest in stating why this is happening. I feel like I've seen lots of articles where the gist is "Are they laying people off because of tariffs? Maybe because of AI? We may never know!", so it's refreshing to see an article plainly state that this is for profitability.
And wanna know what? I'm not hanging to employers either. It works both ways sweetheart.
After working 17 years at a good company (but wanting new challenges and career advancement) I serious problems with the last two jobs. I stood on principle .. and let the chips fall accordingly.
Tech has been a bloodbath for past 2 years - and this is how WSJ frames layoffs, lol:
“The job market has softened in recent months, however, marking a safer environment for companies to start streamlining their workforces. “
Last 3 years, it started in late 2022.
The era of cheap money led to a lot of mergers and acquisitions, which incentivized companies large and small to bloat to increase their value to prospective buyers.
I really don’t think this is AI causing all these layoffs. It’s just a return to business fundamentals, but we’re in a period of massive inflation and it’s getting harder to be profitable.
Its not the AI that causing it, but the AI race. Companies need to pay for the large capex.
But where are they racing? If AGI happens, capitalism is over. If AGI won't happen, they just wasted massive amount of resource in chasing of a white elephant and these companies are over.
They're racing to get the ceos and investors rich enough to build survival bunkers on their private islands in time for the societal crash they caused
At least the article is honest in stating why this is happening. I feel like I've seen lots of articles where the gist is "Are they laying people off because of tariffs? Maybe because of AI? We may never know!", so it's refreshing to see an article plainly state that this is for profitability.
And wanna know what? I'm not hanging to employers either. It works both ways sweetheart.
After working 17 years at a good company (but wanting new challenges and career advancement) I serious problems with the last two jobs. I stood on principle .. and let the chips fall accordingly.
https://archive.ph/InaW5