None of the tech industry layoff headlines are actually about AI. Every company isn’t going to “AI code its own software.” This a reasonable paring back from ZIRP/Covid. Honestly, given how beaten down Block’s stock has been, I’m surprised this did not happen several years ago already. AI is the ghost in the machine used to at once justify whatever executives are doing while also simultaneously suppressing white collar and specialized labor bargain power. 

If we collapse interest rates again, these same companies will instantly ballon all over again, fulfilling their role as centralized public works purveyors and a pressure value outlet for a technically inclined meritocracy-aspirant petty bourgeois class who might otherwise become activated, perhaps to an extent that is troubling effective, into piracy, decentralized technological self-help, radicalized political agitation, etc, etc, etc. 

#Plebchain