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Personally, I think AI is just a convenient scapegoat for these mass layoffs. Also, these kinds of announcements contribute to sustaining the AI hype which all
by thrance 6mo ago
Personally, I think AI is just a convenient scapegoat for these mass layoffs. Also, these kinds of announcements contribute to sustaining the AI hype which all tech investors benefit from. And investors looove hearing about mass layoffs, stock goes up every time without fail.
- benmusch 6mo agocloudflare stock went down, genius investors are not some nefarious monolith cheering for companies to make decisions based on how it benefits The Vibes. they're analysts assessing business decisions.
- surgical_fire 6mo agoWtf are you talking about? Investors are just gamblers with a fancier title. They absolutely invest based on vibes.
- benmusch 6mo agothen why did the riveting stock analysis above mis-predict the market?
- surgical_fire 6mo agoBecause the market makes no sense. It's just vibes. Trying to make sense of it is a fool's errand.
- oytis 6mo agoIt went down on poor earnings call. Layoffs were probably an attempt to soften the blow. Hard to tell what was the effect, because the two happened simultaneously
- mountainriver 6mo agoThis is the simplest and almost certainly correct answer. I’ve seen this at a number of public companies, and is a reason I hate working for them. These decisions are always unbelievably short sighted and ruin companies in the long term.
- yellow_lead 6mo agoWhat was bad about the earnings? Every metric I am seeing is beating expectations. Genuinely curious
- matwood 6mo agoMost likely poor forward guidance.
- Baljhin 5mo ago> Personally, I think AI is just a convenient scapegoat for these mass layoffs. Coincidentally, same day as your post, Forbes published an article stating the same: https://news.ycombinator.com/item?id=48128765 https://news.ycombinator.com/item?id=48128765