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Klarna CEO: Company stopped hiring because AI 'can do all of the jobs'

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Re: Klarna CEO: Company stopped hiring because AI 'can do all of the jobs'

#211
post #49

Why do they need 3500 people (!) to issue simple installment loans?

As usual with startups, building a profitable, sustainable business is never the objective. Building complexity in order to grift endless VC rounds is the objective. And it's a lot easier to justify a big one with 3.5k employees than with 3.

Re: Klarna CEO: Company stopped hiring because AI 'can do all of the jobs'

#213

Earlier quoted context omitted.

Came here to leave a snarky "guess I won't use Klarna then", but happy to see your comment. This info fills me with great joy.

You shouldn’t find joy in the failure of others that you don’t have a relationship with. Why does this news fill you with joy?

Oh please, spare us the harmonious bravado. Klarna is a vulture capitalist company that’s now refusing to hire people because it wants to automate away paying jobs so it can make more money for its vulture capitalist leaders. Klarna struggling should make anyone below the millionaire line joyful.

Re: Klarna CEO: Company stopped hiring because AI 'can do all of the jobs'

#214
post #155

Earlier quoted context omitted.

There are a lot more photographers now than there ever were painters, and the size of the industry is much larger than it used to be. It is true that our work will change, but personally I think that's great - I don't enjoy the initial hump that you usually have to overcome before you begin to actually solve real problems, and AI is often able to take me over that hump, or fill in things that don't matter. E.g. I'm a…

Your analogy fails because the economy still needed human workers to take the photographs whereas there is a possibility that in 5 or 10 years, the economy will have no need and no use for most people.

I work in this field and I would bet that in 5-10 years the situation will not be much different compared to today in terms of employment unless we invent AGI all of a sudden, which I don't see any signs that it'd even remotely happen. Job definitions will change a bit, productivity will improve, cost per LOC will drop, more underserved niches will become tractable/profitable.

Re: Klarna CEO: Company stopped hiring because AI 'can do all of the jobs'

#216

Earlier quoted context omitted.

If they're replacing all of their staff with AI, why do they need so many middle managers to manage staff that no longer exist at the company? It often seems that AI 'will replace middle managers' though it would be more likely that middle managers would be made redundant, given a lack of people to 'manage'.

Because they have lower say-do ratio than employees below them. There's a sign or exponent error in current reward system of modern societies somewhere.

That's true, and something which I hadn't considered...

Re: Klarna CEO: Company stopped hiring because AI 'can do all of the jobs'

#217

Earlier quoted context omitted.

You shouldn’t find joy in the failure of others that you don’t have a relationship with. Why does this news fill you with joy?

Oh please, spare us the harmonious bravado. Klarna is a vulture capitalist company that’s now refusing to hire people because it wants to automate away paying jobs so it can make more money for its vulture capitalist leaders. Klarna struggling should make anyone below the millionaire line joyful.

They’re refusing to hire people because they’re not making as much money as they planned to. Covering it up with claims of AI is lame, but I don’t think it’s a terminal offense.
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