posted in Technology
AI bet goes awry: Oracle fires 21,000 employees
www.jpost.com/business-and-innovation/tech-and-start-ups/article-903442
The Jerusalem Post | JPost.comAI bet goes awry: Oracle fires 21,000 employees | The Jerusalem PostOracle laid off ~13% of its staff to fund a $300B computing deal with OpenAI. Now, a credit downgrade and $7B in required power grid guarantees put the massive project in jeopardy.
Replying to @sanitation@lemmy.today
Couldn’t happen to a better group of companies. Let them all beg for bailouts and be denied.
Replying to @comador@lemmy.world
and be denied
Maybe under a sane leadership, certainly not now. Trump will give them a bailout and a shipping container full of “deported” teenagers.
Replying to @db2@lemmy.world
lol you think either party wouldn’t bail them out? They all own stock in these companies, party line means fuck all when it comes to their net worth. Both parties will link arms sing kumbaya and rip us off yet again…
Replying to @TIEPilot@lemmy.world
I didn’t say anything about another party though.
Even Obama handed out bailouts like candy. No chance this admin doesn’t.
Replying to @artyom@piefed.social
I mean that’s one of the big draws of capitalism right? Much of the state’s power is derived from its elite oligarchy and their industrial contributions, in exchange for basically having a blind eye turned to anything they want.
When you allow structure of such importance to exist as a business, you balance your house on toothpicks.
Therefore, you can allow them to snap and tumble your whole home down a cliff; or you can treat them as part of the state (but, only when they need it. To keep up appearances.)