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Comment on “AI took my job, literally”—Gizmodo fires Spanish staff amid switch to AI translator

art@lemmy.world ⁨1⁩ ⁨year⁩ ago

It’s a little dance called capitalism:

Company becomes publicly traded.
Shareholders invest in the company.
The company aims to maximize profit.
Growth eventually slows down because almost everyone who could use the company’s services already does.
Shareholders expect returns on their investment.
To increase revenue, the company must either raise prices for customers or reduce operating expenses.

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sacredbirdman@kbin.social ⁨1⁩ ⁨year⁩ ago
this plus:

For many companies the majority of operating expenses are related to employees, so they will try to resist raising wages, preferably cutting them and/or firing people (also, union busting)

Product quality will suffer

They'll try to skirt regulations and lobby to overturn them

In capitalism there's no such thing as enough when it comes to ROI so we go back to 6.
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