Reply to Block fires 50% of company, stock up 25%

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]https://www.bloomberg.com/news/articles/2026-02-26/jack-dorsey-s-block-slashes-nearly-half-of-workforce-in-ai-bet

Get the lube ready. This is going to ripple thru the entire economy as ceos and boards understand the market will reward massive labor replacement [/quote]

IBM just announced it was tripling entry-level hires. So. [/quote]

Keyword "[b]announced[/b]" lol. [/quote]

Why do you think that's funny? Explain it to me like I am five.[/quote]

NP but it sounds like they think companies can "announce" anything they want-- "we are eco-sustainable" "we have a commitment to stopping global warming" "we support trans-people and women hockey players" but at the end of the day they don't necessarily follow through. So announcements, stock lifts are just good PR. Until everyone sees through it.[/quote]
Announcements like "we're laying of 15% of our workforce because AI is making us more productive" also aren't necessarily accurate, either.

Also, as companies layoff in one area due to AI, they will hire in other areas, due to AI.[/quote]

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