- The economy is going to go into a deep recession for years with the current economic environment.
There will be nobody left to spend money, just increasing corporate and ultra high wealth spend. The rest will be left with food and water.
We are destroying currently valuable jobs to allocate resources to electricity and silicon, concentrating wealth into 10 companies pockets.
I don't know what comes after, but when you combine this with the Iran war it's going to be closer to economic depression.
- And, with this, the economic contagion begins.
Before this step, we had non-existent money loaned to build datacenters powered by non-existent power infrastructure to support future load that will never exist, with guaranteed revenue from companies that do not, and will never be able to pay.
Previously, this was propped up with circular revenue and investment. Now it's going to be propped up by dismantling the US tech industry.
This does not end well.
by onlyrealcuzzo
4 subcomments
- We will continue to be told this is because AI is driving efficiency instead of that it's driving CapEx and investors won't tolerate FCF collapsing.
- With the ASICs being so efficient at inference, I’m getting the feeling even the infrastructure investments are going to be severely outdated in a couple of years..
by thinkingkong
3 subcomments
- This article is over a month old.
Why is it being shared now? Its also posted on reddit where it has some lift.
- When there was an over buildout of fiber back in the dotcom boom, how did that turn out? Who were the winners and losers? At what timeline did new winners emerge from that bubble?
- I'm pretty bullish on AI but Oracle's massive investments confuse me the most.
by throwaway27448
6 subcomments
- Why is oracle invested in ai at all? It seems entirely unrelated to the value they offer.
- I hope Larry screws up big time and blows up Oracle so it can go the way of Sun.
- Just checked. They have 162,000 employees. So thats like 18% cut?
I don't even know what that company does. I'm sure it's valuable for a reason, just never understood what they do.
Edit: Google says they sell Database software. OK.
by syntaxing
1 subcomments
- While this article is old, there’s more and more noise that the lay offs is this month. That being said, I can’t help but wonder if the paramount deal accelerated these plans.
- This topic is in mainstream news again, too:
https://www.reuters.com/business/oracle-plans-thousands-job-...
Ellison has borrowed money against $80 billion of his shares:
https://www.reuters.com/business/oracle-plans-thousands-job-...
Banks are getting nervous. The reaction of a psychopath would be to fire people so Ellison can pursue his AI fever dreams. Due to abnormal wealth concentration and total lack of common sense there is nothing to stop anyone should they go senile or insane.
The risk for the entire economy and the job market is immense.
- I guess ai is putting people out of work just by funding issues and not actually replacing them
- This is so dumb. But we’ll all end up with cheap LLMs I guess and maybe great cloud gaming.
by qwertyuiop_
0 subcomment
- The hollowing out of middle class continues unabated. The accelerants to this conflagration are continuing mass offshoring and simultaneous layoffs in America pinning the blame on AI driven efficiencies.
- But Jeevons paradox…
- According to its website, Oracle has 162,000 employees. Cutting 30k people would be 18.5% of its workforce. That's huge.
- They will, not may.
I think you are about to see what post-AGI economics really looks like and it is not good at all.
So-called "AGI" has been hijacked and it isn't what you think it is.
- Clown shit.
Sell your ORCL while you can, folks
by fishcrackers
0 subcomment
- [dead]
by Sathwickp
3 subcomments
- I would assume it's the mediocre people that will be let go first
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