Tag Archives: Bail out

Let the market cannibalization begin – Meta fires 14k people…

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In order to show some sort of profit, meta is firing 10000 people and closing 6000 open positions, This is biting off your arm to save your foot.

Meta said on Thursday it plans to lay off roughly 10% of its workforce, or about 8,000 people, the latest in a string of tech industry layoffs fueled in part by artificial intelligence.

The company is also closing around 6,000 open roles, Janelle Gale, Meta’s chief people officer, wrote in a memo published by Bloomberg that Meta confirmed to CNN.

This is insane. They are firing workers to replace with AI , the problem is AI can’t walk, it can’t improvise its position, and lastly without AI the only innovation they get is AI hallucination.

The company has also been splurging on talent for its superintelligence lab and has acquired buzzy AI startups like Moltbook and Manus as part of its ongoing efforts to compete with OpenAI and others.

The problem here is that in the past Meta had people working on all sorts of things. now they are doing a ground level overfocus and are putting all of the eggs into one basket and I feel like the payoff is not going to be what meta wants. Give or take companies are all jockeying for position to hit the innovation jackpot on AI. the problem is most of the companies that are playing the CAPEex game is doing it by scaling and not code.

Amazon said in January it would lay off 16,000 workers, its second large-scale layoffs in three months, emphasizing the need for efficiency. fintech firm Block’s announcement in February that it would lay off 40% of its workforce, more than 4,000 people, Meta CEO Mark Zuckerberg hinted at the start of this year that the company, which has invested heavily in AI, could see workforce changes because of the technology. On Meta’s January earnings call, he called 2026 “the year that AI starts to dramatically change the way that we work.”

“We’re starting to see projects that used to require big teams now be accomplished by a single very talented person,” Zuckerberg said.

Here’s my counter-point to this, You fired 16000 positions, if this person is supposedly replacing that many workers, what happens when your Very Talented Person gets sick? Or, a power outage? Or, LLM data loss. Now if your Very Talented Person gets sick your output goes from 14000 to … 1 , Whereas before one person gets sick your output goes from 14000 to 13999. And lets just say for instance the person that would of replaced your Very Talented Person makes an innovation that improves working by triple, you end up having your Replacement guys efficiency 13999 to 41,997.

Like many big tech companies, Meta eliminated tens of thousands of jobs in 2022 and 2023, reductions that were largely attributed to right-sizing after Covid-era spikes in usage and hiring. Last year, the company said it would cut about 5% of what it called its “lowest performers,” although it planned to backfill many of those roles.

This is not right-sizing, this is full on cannibalization, Everyone is jumping for the AI goldrush while some chinese man in his garage is laughing at the Cape-ex and deepseeking the best coffee ideas.

Attributions from: CNN.com Meta to cut 10% of staff as it pours billions into AI

Media.. A bit late for halloween and early on april fools about the economy.

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<!– @page { margin: 0.79in } P { margin-bottom: 0.08in } A:link { so-language: zxx } –>I’ve been following the economy for awhile. Yes, we are in a bad downturn but, what gets me is the media.. Rather than being somewhat neutral to the issue they are betting on the apocalypse. There aim has me confused. rather than trying to see both sides of an issue they are aiming for getting average Joe into a clustfuck frenzy. Take Time Magazine for an example.

The 171 banks on the FDIC’s “problem list” encompass only about 2 percent of the nearly 8,500 FDIC-insured institutions. Still, the increase from 117 in the second quarter is sharp, and the current tally is the highest since late 1995. (See pictures of the stock market crash of 1929.)

OK.. first off 171 banks out of 8500 A whole 2% (2.011%).. WOW… but look at the eye-catcher here. “See Pictures of the Stock market Crash of 1928” what the fuck? stock market.. ? yet the article is speaking about FDIC insured banks?  Why not just throw in some pictures of nukes while we are at it .

Reading further into the article you will also see.

The FDIC said total assets held by troubled institutions climbed from $78.3 billion to $115.6 billion — a figure that suggests that the nation’s top 20 banks aren’t on the list, even though they are getting slammed, too, by the growing credit crisis. The FDIC does not reveal the names of the institutions it deems troubled. (See pictures of the recession of 1958.)

Nice even though the top 20 banks are not on the list we would like to remind you something that happened 50 years ago k thx. Sure the economy is in a downturn but due to deregulation and other things the market to my belief is overinflated the fuck outta. Big businesses have been having a field day trying to break down things and increasing the cost of everything , Im surprised they have not added a device to count your farts for some sort of health diet.  The way the banks have gone I saw it coming but I was never sure when this was going to hit , Back about 2 years ago i was getting credit card applications on a daily basis and when i saw this I only thought to myself “this is going to end well”. The banks got themselves into this situation and now they are screaming for help when what they did came back to bite them in the ass like a bear chasing a man coated in beef and Honey.

What is Ironic to me is rather than help the people who are directly affected by this the banks got bailed out and the people who have lost there houses have not, So what the hell. I mean thats like helping out a drunk driver rather than the person he hit. Honestly this 700billion dollar bailout stinks like hell and more and more companies and businesses are jumping on the ME TOO bandwagon even though they have caused these issues on there own,  Car makers… Rather than make fuel efficient cars they kept coming out with beastly huge ass cars that got 0.1 mile to the gallon, when oil peaked this year they did not adjust there strategy to cope with the situation.

If you follow crude oil prices they had at least 5 years of forewarning. Other car makers adjusted around the time oil started spiking, and they are not nearly as bad off as US car makers. Oil companies keep posting these all time record profits and yet every time they say it has nothing to do with them ripping off people by gouging them which makes no sense.

My opinion here.. Sure it sounds bad but, Let these companies fail. its a hard lesson but rather than propping them up Every time they decide to have drunken bender of loaning out billions to people who honestly could not afford it, i think the banks should have some responsibility here. Same with the Car companies. Every time i hear bailout these days I cringe because, these bailouts are not working as intended. Bail out the average Joe rather than these companies. Don’t even put the money in there hands just say hey your mortgage is payed for x months, and give them a contract that says they have to either straighten up finances or get out of dodge.