Jaden Schaefer

So anyway, or maybe it was like an eight year deal, a billion dollars for eight years for some of these top AI researchers.

So anyways, I mean, and that's all speculative and that depends on the stock price and a bunch of other things.

But like Meta is spending a ton of money.

And I think that that is very clear.

But of course, they have to offset those costs because that money isn't coming out of thin air.

And so what I will also say is Meta's not the only one that's doing these layoffs.

Block also recently announced layoffs.

There was about 4,000 employees.

And I believe that that was like 40% of the entire company of Block.

We're just seeing companies want smaller teams that can move faster with AI.

Amazon is cutting 16,000 roles earlier this year.

Atlassian just announced that they're cutting 10% of their workforce and they are redirecting all of that money into AI.

And then there's also a consulting firm, Challenger Gray and Christmas, and they said that AI has already been cited in more than 12,000 job cuts in the US this year so far.

And it's kind of interesting because I believe it's actually higher, but companies like Amazon, when they cut 16,000, people are like,

Like, oh, it's not related to AI.

We're just trimming up the company and rearranging things a little bit.

But honestly, I believe it's due to a lot of shifts that are happening in industries.

Now, is Amazon and Meta and Elasti and all these other companies, are they permanently cutting these roles?

I don't think so.

I think in the next couple of years, we'll bring them all back in.