"Investors Are Concerned About an AI Bubble" (That GAFAM and IBM Ride)
IBM's shares fell by as much as 10% (and slightly beyond) yesterday. Cramer would likely label this a "bargain" or a "steal". Buy Bear IBM!! Quick!!!
See, they're merely inflating a bubble.
Meanwhile, IBM is getting smaller and poorer (deeper in debt). This was hours ago:
Apparently there will be many more "last days" just 6 days from now. Those are "forever layoffs" (or "silent layoffs") that IBM would rather distract from. IBM has got the WARN Act "under control", but it still relies on NDAs to compel impacted workers to shut up or express gratitude for unemployment.
"Endless reduction of employee headcount and slashing of investment spending is not a strategy for long term growth," somebody rightly pointed out. "Investors are concerned about an AI bubble," said another.
So who's safe at IBM?
"I noticed at the Albany site there are some people who know the dirt on everyone and get people to give them job security that way (by leveraging it). So they never get marked as low performers even if they truly are," somebody wrote a few hours ago. It's a form of corruption or a morbid culture which people speak of in relation to other IBM sites in other countries and cities.
Another comment had previously said: "This doesn’t seem like an isolated incident at the Albany site. There’s a visible pattern of favoritism. HB clearly has favorites, and if you pay attention to his LinkedIn activity, the pattern isn’t subtle. He consistently boosts and supports the same type of people, and they tend to fit a very specific mold. They all look the same."
Tribalism around buzzwords is a recipe for groupthink and ultimately disaster (like "crypto bros").
"Quantum is the conduit to Mobile Hybrid Blockchain," someone has just joked. Blockchains, remember? Can people still remember when IBM boasted about being a leader in this nonsense (hype)?
A few decades from now IBM will only be remembered in the same sense many so-called 'AI' companies will be remembered. █