That's the thing, profits and equities are at all time highs, but these companies have laid off 400k SWEs in the last 16 months in the US, which should tell you what their plans are for this technology and augmenting their businesses.
That's the thing, profits and equities are at all time highs, but these companies have laid off 400k SWEs in the last 16 months in the US, which should tell you what their plans are for this technology and augmenting their businesses.
The last 16 months of layoffs are almost certainly not because of LLMs. All the cheap money went away, and suddenly tech companies have to be profitable. That means a lot of them are shedding anything not nailed down to make their quarter look better.
The point is there’s no close positive correlation at that scale between labor and profits — hence the layoffs while these companies are doing better than ever. There’s zero reason to think increased productivity would lead to vastly more output from the company with the same amount of workers rather than far fewer workers and about the same amount of output, which is probably driven more by the market than a supply bottleneck.