[Nextgrid]

I disagree that layoffs are because of AI-mediated productivity improvements.

The layoffs are primarily due to over-hiring during the pandemic and even earlier during the zero-interest-rate period.

AI is used as a convenient excuse to execute layoffs without appearing in a bad position to the eyes of investors. Whether any code is actually generated by AI or not is irrelevant (and since it’s hard to tell either way, nobody will be able to prove anything and the narrative will keep being adjusted as necessary).