where its sits with the AI bubble I think Oracle is the 1 of the major companies apart from the OpenAI that would go belly up once the AI bubble crashes.
Don't threaten me with good time!
Oracle shed about 20k roles globally in the last year
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Re: Oracle shed about 20k roles globally in the last year
#22where its sits with the AI bubble I think Oracle is the 1 of the major companies apart from the OpenAI that would go belly up once the AI bubble crashes.
Which AI bubble? The stock bubble one or the imagined "one day all the LLMs are going to disappear from the face of the Earth" one?
The classic autocomplete survived previous bubbles.
So the predictive autocomplete will survive those too.
Re: Oracle shed about 20k roles globally in the last year
#23Have they layoff their lawyers or engineers?
Re: Oracle shed about 20k roles globally in the last year
#24What's even weirder is the Founder of canonical has a #hiring badge on their LinkedIn profile. What kind of message is that?
Fire and re-hire from a desperate pool of anxious workers who will accept any offer to escape unemployment.
Re: Oracle shed about 20k roles globally in the last year
#25where its sits with the AI bubble I think Oracle is the 1 of the major companies apart from the OpenAI that would go belly up once the AI bubble crashes.
Which AI bubble? The stock bubble one or the imagined "one day all the LLMs are going to disappear from the face of the Earth" one?
The money side is a bubble. The LLM cat is out of the bag.
Re: Oracle shed about 20k roles globally in the last year
#26where its sits with the AI bubble I think Oracle is the 1 of the major companies apart from the OpenAI that would go belly up once the AI bubble crashes.
I think you underestimate just how entrenched Oracle’s database offering is in the enterprise.
True, but they also took huge debts to build AI DCs and not sure if the DB part of the company can cushion such a fall. According to [1] their IaaS line of business brings 4.8B USD/quarter (so say 20B/year), but they have ~120B of debt (outstanding + new debt they are trying to find people to pay for).
They are justifying that on commitments (500+B USD), but 300B of those are tied to OpenAI. So, if OpenAI goes belly up or at least doesn't follow their crazy growth projections, they would have to find the same amount of consumption quickly to repay the interest on said debt and eventually the principal.
It is a lot of money for a company the size of Oracle (~500B market cap).
[1] https://finance.yahoo.com/markets/stocks/articles/oracle-500...
Re: Oracle shed about 20k roles globally in the last year
#27Re: Oracle shed about 20k roles globally in the last year
#28Earlier quoted context omitted.
IMO it’s not sudden, the AI excuses have been gradual and ramping up for a couple years now.
Maybe because the models keep getting better and the tools are slowly getting good enough to replace people? Keep in mind we’re talking about oracle here, it’s not like we’re talking about humanity’s best and brightest.
> Maybe because the models keep getting better and the tools are slowly getting good enough to replace people?
I am not sure we are there yet.
In my experience even the SoTA models are faaaaar away from replacing humans, maybe making them a bit faster.
Re: Oracle shed about 20k roles globally in the last year
#29Tech CEOs suddenly love blaming AI for mass job cuts
It is the latest fad. They blamed other fads for job cuts in the past.
Re: Oracle shed about 20k roles globally in the last year
#30Now is precisely not the time to cut jobs, but to invest in people's usage of AI. You have domain expertise, and you are going to burn tokens trying to replace people's jobs, but the AI revolution is not at all about people replacement, its about a change of paradigm. Watch them closely rehire thousands of new employees (who won't have the domain expertise) once they see that you actually need people to operate their company :)