Carrington Clarke
👤 SpeakerAppearances Over Time
Podcast Appearances
They're trying to turn a ship around.
They're trying to build a market.
They're trying to build scale.
They're doing all of those things, but even as they compete, a lot of them are making substantial profits that gives investors some more comfort that they will make it, that the future is bright in these ones.
It's going to be a fascinating period this week as we see what happens.
Already some impacts as they've made cuts and changes to their workforces to try and deal with this.
Well, investors are sickos, and they love announcements of job cuts because it reduces the amount that companies are spending.
We've had really big ones.
Meta says it's going to cut about 10% of its workforce.
That's about 8,000 people.
Microsoft, that big announcement.
We've also had them this year from Block and WiseTech Global and Oracle, similar job cut announcements.
It's difficult to discern how much they are directly related to AI displacing those jobs or whether it's the desired investment in AI and where the companies see themselves going, where they see the power of these models and products disappearing.
to be able to replicate or replace the work that was done by humans.
I think there's a real mix there.
It's very difficult to disentangle in each of these separate companies what's behind these announcements, but it has been an absolute rash of them, even with these companies sloshing around, outlaying and earning money.
almost more money than they ever have before.