The most likely explanation for "AI layoffs" is not that AI has caused a dramatic jump in productivity - its more that managers are running out of creativity in relation to revenue-generating and cost-reducing projects and henceforth have no use for the surplus of labour. Its much easier to maximize the stock price in the short-term by riding the 'AI' wave.
There seems to be some nonsensical belief that there exists this endless stream of positive NPV projects to take. No... reality is not like that.
That’s a strong point. I interpret that: Covid created needs that weren’t permanent and also caused overinvestment to address digitalization and remote life needs to support lockdown as well as predictions for a permanent change in the future. Either way a lot of the work to be done in software is done for a while.
There seems to be some nonsensical belief that there exists this endless stream of positive NPV projects to take. No... reality is not like that.