Yeah but mainly because of how insanely good it was for the 3 years before that. Covid pumped insane amounts of money into tech, which in turn lead to hiring WAY more people than were actually needed. This is just the correction of that, getting back to sustainable levels.
No, this is a correction after the CEO made very poor investments into an LLM company run by a crypto grifter that’s amounted in little to no ROI. So now it’s either every employee is an AI grifter or unemployed. All other projects are cost recovery to feed the spiral of enshitification.
The article says that they outperformed expectations, and that they’d decided that they didn’t need some layers of management. I don’t think that that’s intrinsically crazy; there are tech companies that have emphasized having a relatively flat structure, like Google.
The tech industry is about to become a total shit show. Mark my words
its been bad since it started in 2023. i shudder to think about stem labs though.
About to? It’s been brutal for the past 3 years.
Yeah but mainly because of how insanely good it was for the 3 years before that. Covid pumped insane amounts of money into tech, which in turn lead to hiring WAY more people than were actually needed. This is just the correction of that, getting back to sustainable levels.
That correction ended two years ago. This is larger and longer.
There’s interest rates, section 174, AI, and heaven knows what else.
No, this is a correction after the CEO made very poor investments into an LLM company run by a crypto grifter that’s amounted in little to no ROI. So now it’s either every employee is an AI grifter or unemployed. All other projects are cost recovery to feed the spiral of enshitification.
Are you sure about that?
The stock reflects peoples beliefs, not facts
And if people’s beliefs are that their AI deals are good, prices will go up. That’s ROI baby!
*For now
It’s been a total shit show for quite some time now…
The article says that they outperformed expectations, and that they’d decided that they didn’t need some layers of management. I don’t think that that’s intrinsically crazy; there are tech companies that have emphasized having a relatively flat structure, like Google.