Over the last three years, companies worldwide have invested between 30 and 40 billion dollars into generative artificial intelligence projects. Yet most of these efforts have brought no real business…
Someone somewhere is inventing a technology that will save thirty minutes on the production of my wares and when that day comes I will tower above my competitors as I exchange my products for a fraction less than theirs. They will tremble at my more efficient process as they stand unable to compete!
I really understand this is a reality, especially in the US, and that this is really happening, but is there really no one, even around the world, who is taking advantage of laid-off skilled workforce?
Are they really all going to end up as pizza riders or worse, or are there companies making a long-term investment in workforce that could prove useful for different uses in the short AND long term?
I am quite sure that’s what Novo Nordisk is doing with their hire push here in Denmark, as long as the money lasts, but I would be surprised no one is doing it in the US itself.
My theory is the money-people (VCs, hedge-fund mangers, and such) are heavily pushing for offshoring of software engineering teams to places where labor is cheap. Anecdotally, that’s what I’ve seen personally; nearly every company I’ve interviewed with has had a few US developers leading large teams based in India. The big companies in the business domain I have the most experience with are exclusively hiring devs in India and a little bit in Eastern Europe. There’s a huge oversupply of computer science grads in India, so many are so desperate they’re willing to work for almost nothing just to get something on their resume and hopefully get a good job later. I saw one Indian grad online saying he had 2 internship offers, one offering $60 USD/month, and the other $30/month. Heard offshore recruitment services and Global Capability Centers are booming right now.
We had that recently. 10% redundant and pay freeze because we were not profitable enough. Guess what, morale tanked and they only slightly improved it by giving everyone +10 days holiday.
Imagine how much more they could’ve just paid employees.
Nah. Profits are growing, but not as fast as they used to. Need more layoffs and cut salaries. That’ll make things really efficient.
Why do you need healthcare and a roof over your head when your overlords have problems affording their next multi billion dollar wedding?
Someone somewhere is inventing a technology that will save thirty minutes on the production of my wares and when that day comes I will tower above my competitors as I exchange my products for a fraction less than theirs. They will tremble at my more efficient process as they stand unable to compete!
I really understand this is a reality, especially in the US, and that this is really happening, but is there really no one, even around the world, who is taking advantage of laid-off skilled workforce?
Are they really all going to end up as pizza riders or worse, or are there companies making a long-term investment in workforce that could prove useful for different uses in the short AND long term?
I am quite sure that’s what Novo Nordisk is doing with their hire push here in Denmark, as long as the money lasts, but I would be surprised no one is doing it in the US itself.
My theory is the money-people (VCs, hedge-fund mangers, and such) are heavily pushing for offshoring of software engineering teams to places where labor is cheap. Anecdotally, that’s what I’ve seen personally; nearly every company I’ve interviewed with has had a few US developers leading large teams based in India. The big companies in the business domain I have the most experience with are exclusively hiring devs in India and a little bit in Eastern Europe. There’s a huge oversupply of computer science grads in India, so many are so desperate they’re willing to work for almost nothing just to get something on their resume and hopefully get a good job later. I saw one Indian grad online saying he had 2 internship offers, one offering $60 USD/month, and the other $30/month. Heard offshore recruitment services and Global Capability Centers are booming right now.
We had that recently. 10% redundant and pay freeze because we were not profitable enough. Guess what, morale tanked and they only slightly improved it by giving everyone +10 days holiday.
You misspelled “shares they could have bought back”