Despite business and investor hype around generative AI last year, information-technology hiring slumped as companies laid off workers and sought to cut costs.
But also in 2020-2022 saw one of the biggest rushes to capitalize on social welfare. Companies knew people would be at home looking for something to do, so they all expected incredible growth.
They did make incredible profits, but not growth, and now we are seeing the biggest layoff waves in decades because there was never any growth, just short term profits.
This is essentially privatizing profits and socializing losses. It is still greatly hurting us today when they tell lie that cost of living has to go up because everyone is broke. The rich aren’t broke but they put on their rags and joined us at the table, ready to buy up all our cheap shit.
John Steinbeck once said that socialism never took root in America because the poor see themselves not as an exploited proletariat but as temporarily embarrassed millionaires.
But also in 2020-2022 saw one of the biggest rushes to capitalize on social welfare. Companies knew people would be at home looking for something to do, so they all expected incredible growth.
They did make incredible profits, but not growth, and now we are seeing the biggest layoff waves in decades because there was never any growth, just short term profits.
This is essentially privatizing profits and socializing losses. It is still greatly hurting us today when they tell lie that cost of living has to go up because everyone is broke. The rich aren’t broke but they put on their rags and joined us at the table, ready to buy up all our cheap shit.
It’s the way of the world. The only way around it is to find some herculean means to save money and join them.
Or get rid of them