Today you will learn what diminishing returns are :)
You can only utilize so many people or so much action within a business or idea.
Essentially it's throwing more stupid at a problem.
The reason there are so many layoffs is because of AI creating efficiency. The thing that people don't realize is it's not that one AI robot or GPU is going to replace one human at a one to one ratio. It's going to replace the amount of workload one person can do. Which in turn gets rid of one human employee. It's not that you job isn't taken by AI. It's started. But how much human is needed is where the new supply demand lies and how long the job lasts. There will always be more need for more creative minds. The issue is we are lacking them.
It's incredible how many software engineers I see walking around without jobs. Looking for a job making $100,000 to $200,000 a year. Meanwhile, they have no idea how much money they could save a business. Their creativity was killed by school.
They are relying on somebody to tell them what to do and when nobody's around to tell anybody what to do. They all get stuck. What you are seeing isn't a lack of capability. It's a lack of ability to control direction or create an idea worth following.
I disagree that layoffs are because of AI-mediated productivity improvements.
The layoffs are primarily due to over-hiring during the pandemic and even earlier during the zero-interest-rate period.
AI is used as a convenient excuse to execute layoffs without appearing in a bad position to the eyes of investors. Whether any code is actually generated by AI or not is irrelevant (and since it’s hard to tell either way, nobody will be able to prove anything and the narrative will keep being adjusted as necessary).
It might be more correct to say that interest rates are relatively normal, historically. Post-2008 we had a long period of abnormally low interest rates.
You can only utilize so many people or so much action within a business or idea.
Essentially it's throwing more stupid at a problem.
The reason there are so many layoffs is because of AI creating efficiency. The thing that people don't realize is it's not that one AI robot or GPU is going to replace one human at a one to one ratio. It's going to replace the amount of workload one person can do. Which in turn gets rid of one human employee. It's not that you job isn't taken by AI. It's started. But how much human is needed is where the new supply demand lies and how long the job lasts. There will always be more need for more creative minds. The issue is we are lacking them.
It's incredible how many software engineers I see walking around without jobs. Looking for a job making $100,000 to $200,000 a year. Meanwhile, they have no idea how much money they could save a business. Their creativity was killed by school.
They are relying on somebody to tell them what to do and when nobody's around to tell anybody what to do. They all get stuck. What you are seeing isn't a lack of capability. It's a lack of ability to control direction or create an idea worth following.