Eric Carroll

AI isn't taking people's jobs. Here's what's really happening

https://qz.com/ai-layoffs-white-collar-jobs-oracle-capex

> Oracle's layoffs show that the people losing jobs aren't losing them because AI can do their work. They're losing them to money spent on chips and data centers

#generativeAiIsGoingGreat

AI isn't taking people's jobs. Here's what's really happening

Oracle's layoffs show that the people losing jobs aren't losing them because AI can do their work. They're losing them to money spent on chips and data centers

Quartz
Mar 9 at 9:30pmWeb
Show threadkennebelMar 10
@EricCarroll I’ve said a similar thing to a number of people lately. “AI isn’t taking/replacing jobs, but AI is being used as a reason/excuse for executives making decisions that impact people’s jobs.”
Show threadEric CarrollMar 10

@kennebel
What I found clarifying was the mechanism description.

I know from first hand experience the genAI race is an arms race, triggered and escalating. The mind boggling escalation of capex spend is clear.

The through line is where the capex is coming from and the opex impact of that diversion.