Job openings spiraling. Entirety of tech trading at PE levels not seen since the dot com bubble. Geopolitical tensions still there. Questionable bull run through all this is all the precursors for a big drop. I’d expect a correction of some sort at the minimum very soon
Creative_Ad_8338 on
If you haven’t connected the dots, AI cuts jobs and boosts margins in tech companies. The faster tech companies adopt AI the faster their stock price revalues. This will then spill over into other sectors and industries as AI expands per employee productivity and greatly slashes R&D costs. IMO, biotech sector will be the most impacted.
Uptober is here.
buffpastry on
Not saying that AI doesn‘t play a mayor role, but other things happened before as well. Like COVID or the Russian Invasion.
Jbball9269 on
AI can’t even tell me how many states start with the letter A, and you’re telling me that it’s responsible for a massive decrease in job growth? Ok lmao
atape_1 on
AI isn’t taking jobs… the problem is that there has been a shift as to what successful growth looks like in a company in the minds of stock holders. Before AI, increased output due to company expansion was seen as good. Now shrinking the job force and going heavily into AI is seen as good company growth.
The reality is… it’s all smoke and mirrors. The output of coders in Google is about 10-15% higher now due to AI. And that is the best case scenario for AI driven output increase, other jobs won’t profit as much. Companies are shrinking their work forces because the real economy is already in a recession and the demand is just lower, but attributing the cuts to “AI restructuring”. Together with the fact that 95% of AI projects fail in corpos (MIT study) it really is just a ticking time bomb.
Hot-Ticket9440 on
Makes sense
FigeaterApocalypse on
Move that chart out! What did it look like late 90s during the dot com bubble?
PlaysWthSquirrels on
Because companies immediately replaced employees with this brand new thing on the day it came out lol
HasGreatVocabulary on
By this logic, harambe’s 2016 shooting had almost no effect on the world, and we all know that to be false
Electronic_Car_5364 on
Now look at temporary jobs curve which usually are ahead of full-time contracts. We’re fine
13 Comments
correlation is causation, right?
Job openings spiraling. Entirety of tech trading at PE levels not seen since the dot com bubble. Geopolitical tensions still there. Questionable bull run through all this is all the precursors for a big drop. I’d expect a correction of some sort at the minimum very soon
If you haven’t connected the dots, AI cuts jobs and boosts margins in tech companies. The faster tech companies adopt AI the faster their stock price revalues. This will then spill over into other sectors and industries as AI expands per employee productivity and greatly slashes R&D costs. IMO, biotech sector will be the most impacted.
Uptober is here.
Not saying that AI doesn‘t play a mayor role, but other things happened before as well. Like COVID or the Russian Invasion.
AI can’t even tell me how many states start with the letter A, and you’re telling me that it’s responsible for a massive decrease in job growth? Ok lmao
AI isn’t taking jobs… the problem is that there has been a shift as to what successful growth looks like in a company in the minds of stock holders. Before AI, increased output due to company expansion was seen as good. Now shrinking the job force and going heavily into AI is seen as good company growth.
The reality is… it’s all smoke and mirrors. The output of coders in Google is about 10-15% higher now due to AI. And that is the best case scenario for AI driven output increase, other jobs won’t profit as much. Companies are shrinking their work forces because the real economy is already in a recession and the demand is just lower, but attributing the cuts to “AI restructuring”. Together with the fact that 95% of AI projects fail in corpos (MIT study) it really is just a ticking time bomb.
Makes sense
Move that chart out! What did it look like late 90s during the dot com bubble?
Because companies immediately replaced employees with this brand new thing on the day it came out lol
By this logic, harambe’s 2016 shooting had almost no effect on the world, and we all know that to be false
Now look at temporary jobs curve which usually are ahead of full-time contracts. We’re fine
Correlation doesn’t mean causation
Skynet became self aware