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Who is going to be paying taxes when AI replaces all these jobs?
You who have an income
One of the reasons why FAANG companies are laying off employees is improve profitability by reducing headcount where the high headcount was initially created due to highly internal political environments that rewards hiring bloat.
Remember the scene on the movie "The Fifth Element", when Zorg laid off 50k then said make that 100k people?
At this point I fully expect people to hold managers at gunpoint not to rob them but just to force them to hire em.
Meta was way way way overstaffed with diversity hires that spent their days making tiktoks about the free lattes they get while never actually doing any work. It shouldn't be a surprise these companies are dumping dead weight now that their balance sheets are not looking great in the long term. Though, some are claiming its AI while AI just stands for another indian.