The Slop Bubble is Already Bursting
14 hours ago by Jonathan Vanian and Julia Boorstin:
Two months ago: Facebook Layoffs Due to Enormous Debt, Nothing to Do With "Hey Hi" Slop
Four months ago: Facebook ('Meta') is Dead Meat, This GAFAM Company's Debt Exploded by Almost 33 Billion Dollars in Just 3 Months (11 Billion Per Month)
With about 10,000 Microsoft layoffs in 2 months and a similar number at Facebook ('Meta') we need not ask questions like, "when will the bubble pop?"
In certain ways, it is already popping, even if Wall Street has a delayed reaction (failing to acknowledge this because of a false narrative). Some so-called 'AI' companies are "cutting over 60 per cent of its workforce" and it's not because of some "hey hi efficiency", it is because whatever they have to offer isn't working and rebranding as "agents" won't work.
When the biggest actors in so-called 'hey hi' sack tens of thousands of their own workers while taking hundreds of billions (of US dollars) in loans we cannot fool ourselves into calling it "growth" - no more than Facebook rebranding as "Meta" to promote so-called 'metaverse' (old concepts rebranded) resulted in material growth.
In a lot of ways what we're seeing these companies' demise celebrated (or twisted) as "wins" by "investing" in some so-called 'revolution' or 'era' or 'arms race'.
Slop is not desirable and the general public is growingly impatient, seeing that slop has improved nothing for them. It's also ruinous and destructive to the planet at times of a global energy crunch. █