Thought we were done with layoffs in tech? Think again. Spotify is the latest company to cut jobs, telling staff today it is shedding 17% of its workforce. The cuts represent ~1,500 roles. That's despite Spotify reporting a profit in the third quarter. Spotify banked a €65m
ECONOMY
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Post-scarcity future: widening wealth gap in medium term
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100% agree. There might be some “post scarcity” future but that is likely very far away. In the medium term the gap between top and bottom will be massive.
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Specialization enables funding for diverse interests and side projects
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On the bright side, you don’t have to be much better than market standard on one truly important thing to afford a whole lot of random side interests.
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Companies positioned to win in AI if execution succeeds
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Several companies will "win" if they don't screw up.
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Tech Giants’ No-Poaching Conspiracy: Antitrust Implications
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Only when they actively collide, which has happened. (The “no-poaching” conspiracy certainly counts.)
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BigLaw Salary Coordination Responds to Tech Wage Competition
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BigLaw cartel (I think that is a reasonably fair characterization for a group of nominally competing firms capable of synchronizing a salary schedule) updates monopsony to compete with tech/etc wages.
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Charlie Munger’s Incentive Principle Shapes Investment Outcomes
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Charlie Munger was a remarkable figure in the world of investing. His recent passing is not just a loss for the business community but for everyone who learned from his unique insights. One of my favorite Munger sayings is: “Show me the incentives and I’ll show you the outcome.”
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AI Power Consumption and Deployment Cost Analysis
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Power Hungry Processing: Watts Driving the Cost of AI Deployment? Luccioni et al.: https://
arxiv.org/abs/2311.16863 #ArtificialIntelligence #ClimateAI #MachineLearning -
Cloud Compute Consumption Shift Driven by AI Growth
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The other big shift we're seeing is a change in consumption in cloud compute. Snowflake's earnings signaled that there would be a rebound in consumption based pricing, and you hear about it more these days among startups. AI isn't the whole story, but it seems like a big part.
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November AI Breakthroughs: Startups and Cloud Business Shifts
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A lot happened in November in AI! And not just that one thing about that one big company. We saw a lot of big movement with startup launches and releases, as well as what feels like a big shift looming in one of cloud's most popular business models.