Kevin Beaumont10h ago

Oracle have laid off 30k employees today. They did it to personal email accounts at 6am 🫡 saying they needed the money to spend on GenAI instead. https://thenextweb.com/news/oracle-layoffs-march-2026

Oracle’s share price since they went GenAI nuts:

Show threadJoonq10h ago
@GossiTheDog People are running their companies and their company reputations into ground for AI! Im actually starting to be pretty conspiratorial about this is it a cult? Do these ceos get personal bribes for this? Is it some kind of a humilation ritual? 😂
GrandTheftUrkel7h ago
Show threadSzabó Em, Enigma He-Art Director 
@joonq @GossiTheDog stock buybacks and liquidations. This is billionaire gets more money 101. It's just "ai" instead of housing this time around.
4:19pmWeb