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Oracle may slash up to 30k jobs to fund AI data-centers as US banks retreat

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Re: Oracle may slash up to 30k jobs to fund AI data-centers as US banks retreat

#131

Post by ericfr11 »

0xy wrote: post #68
bearjaws wrote: post #48

The economy is going to go into a deep recession for years with the current economic environment. There will be nobody left to spend money, just increasing corporate and ultra high wealth spend. The rest will be left with food and water. We are destroying currently valuable jobs to allocate resources to electricity and silicon, concentrating wealth into 10 companies pockets. I don't know what comes after, but when yo…

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Not according to the 30k Oracle employees, or Block, ... Wealth is only increasing for the top 0.1%. Milk (and other commodities) are still more expensive than in 2020. Young people's unemployment rate is way higher

Re: Oracle may slash up to 30k jobs to fund AI data-centers as US banks retreat

#132

Post by bdangubic »

onlyrealcuzzo wrote: post #25
bdangubic wrote: post #5

Earlier quoted context omitted.

don’t forget that they will probably hire thousands off-shore

Maybe - but the larger issue is FCF - and you can't hire that many without it showing up on FCF.

why would they try to hide it? no other company does :)

Re: Oracle may slash up to 30k jobs to fund AI data-centers as US banks retreat

#133

Post by AdamN »

monero-xmr wrote: post #62
bearjaws wrote: post #48

The economy is going to go into a deep recession for years with the current economic environment. There will be nobody left to spend money, just increasing corporate and ultra high wealth spend. The rest will be left with food and water. We are destroying currently valuable jobs to allocate resources to electricity and silicon, concentrating wealth into 10 companies pockets. I don't know what comes after, but when yo…

I heard this canard my entire life. It’s been said for centuries. If you want maximum employment pass a law that says all grass must be cut with scissors. Otherwise let productivity gains diffuse out - that’s the only way to increase true wealth

Who are you responding to? OP made a moral argument for sure but he wasn't pushing for maximum employment.

Re: Oracle may slash up to 30k jobs to fund AI data-centers as US banks retreat

#134

Post by pipo234 »

oxag3n wrote: post #121
pipo234 wrote: post #65

Earlier quoted context omitted.

> Output is a lot harder to measure, which means it can be fudged easily. First and foremost, this is about Oracle. For the short period I worked there, my impression about culture and tech was: mediocre. Not excellent, not poor but just a around average. Which raises the question: why is it such a successful company commercially ? I believe it's being ruthless to customers, employees and suppliers combined with cook…

> Which raises the question: why is it such a successful company commercially? Tons of mediocre enterprise software is built on Oracle DB. Why enterprises are vendor locked-in? There are very few large enterprise players in every industry that implement all kind of ISO, standards, got an army of business analysts to generate million of requirement pages. Any new player must fight against that artificially overblown l…

Sad, but true.

And if they had it their way, Oracle would have similarly strangled every last customer of Java, MySQL, OpenOffice, Solaris, etc. to squeeze out every last dollar.

And then make it look like they're innovating.

Re: Oracle may slash up to 30k jobs to fund AI data-centers as US banks retreat

#135

Post by AdamN »

cubefox wrote: post #75
surfmike wrote: post #63

Earlier quoted context omitted.

Google’s training and running all their stuff on ASICs, seems to be working out well.

TPUs are not ASICs if they can execute arbitrary models.

Forgive my ignorance but wouldn't a TPU be a kind of ASIC where the application is model inference? The TPU Wikipedia article also says it's an ASIC - we should update it if it's wrong.

Re: Oracle may slash up to 30k jobs to fund AI data-centers as US banks retreat

#136

Post by ericfr11 »

bequanna wrote: post #57
bearjaws wrote: post #48

The economy is going to go into a deep recession for years with the current economic environment. There will be nobody left to spend money, just increasing corporate and ultra high wealth spend. The rest will be left with food and water. We are destroying currently valuable jobs to allocate resources to electricity and silicon, concentrating wealth into 10 companies pockets. I don't know what comes after, but when yo…

> I don't know what comes after, but when you combine this with the Iran war it's going to be closer to economic depression. I follow your extrapolation in the first part, but this is where you lost me. Why is the Iran war guaranteed to have long-term net negative consequences? It seems far too early to predict the outcome with any kind of certainty.

When a country leader says "another country leader won't last without my approval", he becomes an imperialist driven by power and money

Re: Oracle may slash up to 30k jobs to fund AI data-centers as US banks retreat

#137

Post by onlyrealcuzzo »

pipo234 wrote: post #65
hshdhdhj4444 wrote: post #13

Earlier quoted context omitted.

I strongly believe AI will drive efficiency. I’m less certain about whether that’s already happening or will happen in the future and when in the future. However, I’ve already seen a CTO of a F100 company explicitly state that whether AI is driving efficiency or not, the capital investment, and more importantly, the promises of efficiency to investors will mean some people will be let go. Efficiency is output/input.…

> Output is a lot harder to measure, which means it can be fudged easily. First and foremost, this is about Oracle. For the short period I worked there, my impression about culture and tech was: mediocre. Not excellent, not poor but just a around average. Which raises the question: why is it such a successful company commercially ? I believe it's being ruthless to customers, employees and suppliers combined with cook…

Oracle is mediocre because it could be.

That's probably where you'll end up if you're a company where that's an option.

No one was ever going to switch databases to a better DB as long as:

1) they did the bare minimum to ensure no alternative existed where switching made any sense.

2) they never charged too much where it made sense to switch thinking along the lines these businesses made decisions.

It's like the resource curse played out on a company scale.

If you have no incentive to get better, you won't.

Re: Oracle may slash up to 30k jobs to fund AI data-centers as US banks retreat

#138

Post by piva00 »

dmix wrote: post #95
darth_avocado wrote: post #60

Earlier quoted context omitted.

> I don't know what comes after You start looking like South Africa, Brazil, India or other large economies with high concentration of wealth at the top.

All of them famous for top heavy bureaucracies meddling in industry and highly political byzantine rules for business, which is the current drumbeat the west is following.

Lumping "the West" as one thing in this argument is just wrong. The West is composed of so many different countries with their own legal systems, cultural baggage, bureaucratic and political processes which evolved differently over time that it makes your sentence meaningless.

From my own experience moving from Brazil, having ran businesses there, and later in life moving to "the West" (Sweden) there's simply no comparison between the hurdles you have in Brazil vs Sweden. No, not even the drumbeat is pointing in that direction, it's almost a literal different world.

You need to be more specific to make this kind of criticism, it is absurdly vague, and by that also quite unhelpful to any discussion.

Re: Oracle may slash up to 30k jobs to fund AI data-centers as US banks retreat

#139

Post by ericfr11 »

adventured wrote: post #72
hedora wrote: post #12

And, with this, the economic contagion begins. Before this step, we had non-existent money loaned to build datacenters powered by non-existent power infrastructure to support future load that will never exist, with guaranteed revenue from companies that do not, and will never be able to pay. Previously, this was propped up with circular revenue and investment. Now it's going to be propped up by dismantling the US tec…

Your response is over the top. Oracle isn't going to fire 30,000 employees to fund anything. That's the story for Wall Street. Oracle went on a huge run in the market, that it did not deserve, and they're going to attempt to hold on to as much of that gain as they can. Wall Street will applaud slashing jobs if you can give them a good reason for it (and sometimes with no reason at all). Amazon, Meta, Apple, Nvidia, M…

What is this obsession with winning? Are you so scared?

Re: Oracle may slash up to 30k jobs to fund AI data-centers as US banks retreat

#140

Post by butterbomb »

adventured wrote: post #72
hedora wrote: post #12

And, with this, the economic contagion begins. Before this step, we had non-existent money loaned to build datacenters powered by non-existent power infrastructure to support future load that will never exist, with guaranteed revenue from companies that do not, and will never be able to pay. Previously, this was propped up with circular revenue and investment. Now it's going to be propped up by dismantling the US tec…

Your response is over the top. Oracle isn't going to fire 30,000 employees to fund anything. That's the story for Wall Street. Oracle went on a huge run in the market, that it did not deserve, and they're going to attempt to hold on to as much of that gain as they can. Wall Street will applaud slashing jobs if you can give them a good reason for it (and sometimes with no reason at all). Amazon, Meta, Apple, Nvidia, M…

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