Content tagged "economy"
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AI spending and the job market of 2025
In Chile, we have a game called 'musical chairs': everyone walks around a circle of chairs while the music plays. Each time the music stops, everyone must sit down, and whoever is left without a chair is eliminated. The game continues with fewer and fewer chairs each round. The race to dominate the future of AI increasingly looks like this game, where only one big company will emerge victorious.
"We're running out of simple ways to secure more funding, so cost-cutting will follow, Pratik Ratadiya, head of product at AI startup Narravance, wrote on X. "I maintain that companies have overspent on LLMs before establishing a sustainable financial model for these expenses. We've seen this act before. When companies are financially stressed, a relatively easy solution is to lay off workers and ask those who are not laid off to work harder and be thankful that they still have jobs. AI is just a convenient excuse for this cost-cutting.""