Lauren WeinsteinBREAKING: Billionaire Jack Dorsey fires 40% of Block staff to replace them with AI, over 4000 humans being kicked out -- Billionaire Dorsey says he thinks most companies will do the same soon.
Oliver SchafeldBlock's stock is down 70% from 2021.
I.e. even *after* it rose 24% following news of mass layoffs.
»Critics note tech peers (e.g., Meta) have used similar "AI" framing for overhiring fixes.«
https://www.perplexity.ai/search/block-s-stock-market-valuation-7FFzjij7QHqUbcbppjQrCw
