The reality no one ever wants to talk about is that big tech doesn't need as many employees that it has. Anyone who has worked in big tech knows it is true.
US is starting to see heavy job losses in roles exposed to AI
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Re: US is starting to see heavy job losses in roles exposed to AI
#32I think people are blaming AI for a recession caused by trump’s tarrifs and the oil crisis. Businesses fear that oil prices may explode until enough of the economy enters a recession that oil demand decreases, and are already feeling the supply crunch
In economies that revolve around credit/debt (the US), once credit stops EXPANDING, that's a huge force pushing the economy down.
If everyone's already taken on as much debt as they can, and interest rates aren't consistently marching lower for ~25 straight years, it's going to be a little harder to grow.
Doesn't make it impossible, just harder.
We're paying for growth we got 25 years ago now.
Wish we invested that money better. You can't change the past. But you can change the future.
Re: US is starting to see heavy job losses in roles exposed to AI
#33That thing that reassures me is that I kind of think most people in software aren't doing much useful work anyway, so if the whole thing was really driven by hiring the fewest humans possible to get the work done, companies probably could have fired half of us even without AI.
This is a conspiracy theory, but I suspect that VC-backed tech industry overhiring circa 2020/2021 was partially done to give this impression.
Re: US is starting to see heavy job losses in roles exposed to AI
#34That thing that reassures me is that I kind of think most people in software aren't doing much useful work anyway, so if the whole thing was really driven by hiring the fewest humans possible to get the work done, companies probably could have fired half of us even without AI.
I agree that a lot of people aren’t working at 100% and a lot of the work was probably needless busywork.
I don’t think it’s reassuring the way this goes away from AI layoffs. Just like in life, you need downtime and boredom. This is when you learn and reflect and develop taste, this is where your team steals time when an “emergency” breaks out and someone gets paged over an outage. This is where you take time to mentor the younger employees.
Relatedly, it seems that AI is entrenching cumbersome processes because it’s easy to write that extra doc, compile those notes, etc. When you make a team more lean, you’re supposed to cut out the extra process and let people work in a high-trust environment. That’s why startups are fast - everything is low process and the business has to trust employees. As companies grow, they develop all sorts of bureaucracy as scar tissue. But layoffs and cuts fail if you keep that stuff along the way.
Re: US is starting to see heavy job losses in roles exposed to AI
#35I think people are blaming AI for a recession caused by trump’s tarrifs and the oil crisis. Businesses fear that oil prices may explode until enough of the economy enters a recession that oil demand decreases, and are already feeling the supply crunch
GDP is not suffering — quite the opposite, 2% real annual growth in Q1 — so recession is definitionally inaccurate.
Re: US is starting to see heavy job losses in roles exposed to AI
#36I think people are blaming AI for a recession caused by trump’s tarrifs and the oil crisis. Businesses fear that oil prices may explode until enough of the economy enters a recession that oil demand decreases, and are already feeling the supply crunch
^ this! And higher interest rates than before Over hiring from Covid is still an overhang
At this point, the interest rates have been around for quite a while and the ultralow rates after the GFC should not be treated as any kind of norm.
Re: US is starting to see heavy job losses in roles exposed to AI
#37I think people are blaming AI for a recession caused by trump’s tarrifs and the oil crisis. Businesses fear that oil prices may explode until enough of the economy enters a recession that oil demand decreases, and are already feeling the supply crunch
Yet the stock market is reaching ATH, I don't think recession is the accurate word. I also think the fixation on Trump is misleading and takes away from the actual structural side effects of dollar issuance via unbacked fiat. It's convenient scapegoating to take your attention away from the long lingering issue of US dollar dominance and debt that is now causing large social divide and standard of living. The physics…
> Yet the stock market is reaching ATH, I don't think recession is the accurate word.
It did under Biden as well yet nobody had any issues claiming the economy was in terrible shape and that we were entering a potential recession. Which frankly I agreed with! The stock market tells a fraction of the story. Especially because institutional investors now dominate investment in a way they didn’t only a few decades ago. A booming stock market does not benefit “the common man” like it once did unless one believes in trickle down economics or something. Employee pensions have become rare in the private sector, matched 401(k)s used for investment are also becoming more scarce. The stock market just isn’t tied to “the average person” like it once was, relatively speaking.
I do think Biden deserves immense blame for inflation getting out of control, but I also think as usual people overlooked what the Democrat president was handed, which was a Covid economy in this case. There was going to be fallout from that for years no matter what he did. No one blames Trump for the economy he handed off either.
Re: US is starting to see heavy job losses in roles exposed to AI
#38This is intentional. Companies are actively trying to develop capabilities to replace humans. I am surprised there are not enough protests against this.
Re: US is starting to see heavy job losses in roles exposed to AI
#39The demand for cushy white collar desk jobs (which weren't around 30 years ago) is crashing. Rest of the world, not so much.
30 years ago was the middle of the .com boom and white collar jobs had been around for a century already. White collar employment started with the industrial revolution and really took off during the post-WWII boom.
Re: US is starting to see heavy job losses in roles exposed to AI
#40It does not matter at this stage is an excuse for layoffs or not. The entire world should impose sanctions on the US for the largest IP theft in history until the laundering companies are illegal (and the waterways closed due to US wars are open).
If this administration works against its people and the whole world, maybe there should be a regime change. Peaceful version of Jan 6th. All the unemployed have little to lose.