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@a16z

Marc Andreessen says AI is the "silver bullet excuse" for companies laying people off, but most layoffs are actually due to higher interest rates and overstaffing during COVID: "This entire labor displacement thing is 100% incorrect. It's completely wrong. It's classic zero-sum economics." "It was the combination of the two—interest rates going to zero during COVID, and then the complete loss of discipline at all these companies when they went virtual and when employees just became an icon on a screen." "What you have happening right now is that essentially every large company is overstaffed. We could debate how much—it's at least overstaffed by 25%. I think most large companies are overstaffed by 50%. A lot of them are overstaffed by 75%." "And now they all have the silver bullet excuse—it's AI." @pmarca with @HarryStebbings

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