Mastodawn

I think two things are true

1. Block is not a well run company.

2. Jack Dorsey’s layoffs at Block will give tech companies make similar AI-driven workforce changes. Similar to how Elon’s cuts at Twitter in 2022, kicked off a wave of layoffs and animosity towards tech employees that hasn’t abated.

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felix Feb 27

@carnage4life Is it also possible that their products are basically built out and ready for maintenance mode? If you say "we have too little impactful work for these people to do" then the markets would write down your future growth potential. Not needing those people "because of AI" sounds much more positive...

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felix

@carnage4life There does seem to be a "bubble" in large companies with products that should be in maintenance mode, but for historical reasons employ thousands of people to rearrange the decor. One "tell" for this historically was when companies switched from selling the software vs selling subscriptions, since people wouldn't bother paying to upgrade.