Comment on Microsoft laying off about 6,000 people, or 3% of its workforce

• FreedomAdvocate@lemmy.net.au ⁨1⁩ ⁨month⁩ ago

  Yeah but mainly because of how insanely good it was for the 3 years before that. Covid pumped insane amounts of money into tech, which in turn lead to hiring WAY more people than were actually needed. This is just the correction of that, getting back to sustainable levels.

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  • Wooki@lemmy.world ⁨1⁩ ⁨month⁩ ago

    No, this is a correction after the CEO made very poor investments into an LLM company run by a crypto grifter

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    • FreedomAdvocate@lemmy.net.au ⁨1⁩ ⁨month⁩ ago

      Are you sure about that?

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      • jenesaisquoi@feddit.org ⁨1⁩ ⁨month⁩ ago

        The stock reflects peoples beliefs, not facts

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      • Wooki@lemmy.world ⁨1⁩ ⁨month⁩ ago

        Absolutely, Natella (intentional) has commented about the valueless hype for one. The stock value has little to do with short term returns, I would expect a correction in 12-24months as openai cash starts running dry and it begins reflecting in their stock value first and foremost.

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  • morrowind@lemmy.ml ⁨1⁩ ⁨month⁩ ago

    That correction ended two years ago. This is larger and longer.

    There’s interest rates, section 174, AI, and heaven knows what else.

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