and this is their stock over the past 6 months btw.
So is AI taking away jobs or not? I can’t get a straight answer.
Is AI the reason jobs are being lost? yes
Is AI actually replacing what was produced by those jobs? no
Exactly. The cost of AI is quickly outpacing the productivity and even the functionality of its usage.
Companies are basically finding out that just because you have an Indy race car in the driveway doesn’t mean it’s an economical case for commuting to work and so the cat and dog will now be butchered so the family has something to eat.
Do you think the former will stay consistent and the latter will change to “yes”?
nope
These jobs aren’t being lost due to efficiency increases from AI. They’re being lost because Oracle wants to build more AI Datacenters and can’t afford to. Banks stopped fronting them money to do so, so they’ve laid all these employees off the increase capital.
Spooky times
It’s executives cutting jobs because they want the money now and run away with it. Oracle is basically speedrunning their end.
Just one more datacentre bro, just one more! One more and we get GenAI. 10,000 more layoffs and another datacentre! C’mon you know I’m good for it!
It’s not gonna end well for Oracle, is it?
If they get into difficulties will they be treated like Trumps epic fail businesses and bailed out by the taxpayers?
paramount+ equally costing them lots of money,
