Snap lays off 16% of workers, citing 'rapid advancements' in AI. Read the memo it sent to staff.
CEO Evan Spiegel said Snap would cut 1,000 employees, 16% of its global workforce, citing "rapid advancements in artificial intelligence."
#SolowParadox 2.0: "According to recent research from McKinsey & Company, nearly eight in 10 companies have reported using generative A.I., but just as many have reported 'no significant bottom-line impact'.”
https://www.nytimes.com/2025/08/13/business/ai-business-payoff-lags.html 
Companies Are Pouring Billions Into A.I. It Has Yet to Pay Off.
Corporate spending on artificial intelligence is surging as executives bank on major efficiency gains. So far, they report little effect to the bottom line.
The Solow paradox - In 1987 the Nobel prize-winning American economist Robert Solow famously observed, “You can see the computer age everywhere but in the productivity statistics.”
https://annmichaelsen.com/2023/04/28/the-solow-paradox/?utm_source=rss&utm_medium=rss&utm_campaign=the-solow-paradox#solowparadox #technology #aiThe Solow paradox
In 1987 the Nobel prize-winning American economist Robert Solow famously observed, “You can see the computer age everywhere but in the productivity statistics.” Solow was referring to the slow prod…
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Mark Dunk