Comment by downrightmike

6 months ago

Investors and stock holders should be extremely outraged that all of these businesses are knee capping their future profitability. Can't make all those future pension payments if all your investments can't stay relevant in the market.

Some people will point out that AI will fix this, no it won't:

1) The real cost is higher than anything you'd pay for a person an there is not likely any real change there.

2) AI will be lies like Actual Indians that won't scale

3) Here's the kicker: If AI does succeed, now these multi-billion dollar firms will have to compete with multi-billion dollar single person businesses, that eat their lunch

Its a race to the bottom right? That means you need to invest in the business and all these layoffs are exactly not that, and will leave companies unprepared for the next 10 years.