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you might have seen this. nearly 50% gone. but there’s more to it than what you see.
1. jack is historically known for running heavily bloated companies.
a lot of companies in the valley are bloated. expenses for payroll are huge in all companies and related expenses for payroll (benefits for employees) are also super bloated.
2. letting go of people en-masse without a proper reason will tank the stocks of a company, especially a public company plus morale. the morale is the most inportant part (even in an unlisted co.)
people might think the company has collapsed, revenue tanked. something big and important has failed and the company is taking contingency measures or so and so.
3. using ai as an excuse is the easiest way out - to cut a bloated company. it actually increases investor confidence and public markets will rally. why? wow, the company is using ai positively by cutting down unnecessary expenses and is making the company more efficient.
4. there are a lot of made-up jobs in software, and roles which exist purely because the engineer who needs that roles won’t do those tasks because their time is too valuable for something else or they simply refuse to do those.
5. not all engineers are skilled/had the chance to get skilled, like you think they’re or they should be, and ai immediately replaces them.
6. ai really stopped hiring in a lot of big companies and they’re all scaling it down and are actively cutting down people who don’t make the mark.
expect a lot of companies to follow the same.
does this mean you should stop following a career in software?
nope.
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