I guess ai is putting people out of work just by funding issues and not actually replacing them
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
#152The hollowing out of middle class continues unabated. The accelerants to this conflagration are continuing mass offshoring and simultaneous layoffs in America pinning the blame on AI driven efficiencies.
Re: Oracle may slash up to 30k jobs to fund AI data-centers as US banks retreat
#153Earlier quoted context omitted.
We can use technology to increase production and have a progressive tax. There is absolutely no reason we need to endure the extreme wealth divide.
If there is a need that people pay for, and it took 10 people, and technology comes and it can now be done by 1 person, that is a great thing. That’s not a bad thing at all. That’s exactly how the world progresses forwards. Everyone can get the need met, and at a cheaper cost, while freeing the other 9 people to do something else useful. That is why we have the standard of living we have today
I genuinely cannot understand why this comment was killed. Even if you disagree with the position, there's nothing at all objectionable about how it's being presented.
Re: Oracle may slash up to 30k jobs to fund AI data-centers as US banks retreat
#154Earlier quoted context omitted.
It can get so much worse than what we have in the West.
Lack of density in the US means we at least get the mexican version of this not the indian/bladerunner flavor.
Neither South Africa nor Brazil are that dense, which is why I included them as examples.
Re: Oracle may slash up to 30k jobs to fund AI data-centers as US banks retreat
#155Earlier quoted context omitted.
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?
Scared or insecure
Re: Oracle may slash up to 30k jobs to fund AI data-centers as US banks retreat
#156We will continue to be told this is because AI is driving efficiency instead of that it's driving CapEx and investors won't tolerate FCF collapsing.
Everyone is holding their breath praying AGI either will, or will not, come before the chickens come home to roost.
What is this "everyone" running from?
Re: Oracle may slash up to 30k jobs to fund AI data-centers as US banks retreat
#157But Jeevons paradox…
Re: Oracle may slash up to 30k jobs to fund AI data-centers as US banks retreat
#158Clown shit. Sell your ORCL while you can, folks
TFA was published Jan 30, and ORCL's recent peak was last September. The stock continued to slide until the recent minimum Feb 5 and in the month since then has rallied 12%. Any possible moment to respond to the story is long gone.
Re: Oracle may slash up to 30k jobs to fund AI data-centers as US banks retreat
#159Earlier quoted context omitted.
Not sure that makes sense. As amazing a technical feat as AGI will be, does it follow that s.tons of money will immediately be made? That's not really how humans act, historically. Any migration to new technology takes years, decades. There are still steam engines pulling revenue service trains.
Yes - if AGI is made, nearly immediately every knowledge worker’s labor value goes to zero over night. This may or may not include AI researchers.
Can you guys just say the quiet part out loud?
That you want slaves. You want slaves. This is what you are asking for.
Unless you're paying the AGI? Then why not just... pay a human that is already present? Much more efficient.
Re: Oracle may slash up to 30k jobs to fund AI data-centers as US banks retreat
#160Earlier quoted context omitted.
> 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.
About 20% of the world's oil flows through the Strait of Hormuz, which is effectively closed right now. So far, the economy is coping by drawing down inventories elsewhere and praying that the strait reopens soon , but even then, crude oil futures are skyrocketing (up 50% in a week). If this lasts for a few months--and if a few oil tankers get blown up in the crossfire--this is going to be a repeat of the 1970's oil…
One potential knock-on impact of the strait being effectively closed, is that at some point the gulf states will be forced to shut-in production as local storage fills up and production can’t be exported. That combined with war damage to critical transport/export infrastructure will cause a lag where production can’t meet global demand even when the strait re-opens. Turning oil wells back on is not like flipping on a light switch.