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Where are all those price cuts thanks to AI implementation m (lemmy.world)

submitted 8 months ago by filister@lemmy.world to c/asklemmy@lemmy.world

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So many companies cut their workforce as much as 10-15% citing that those jobs can be fully automated by the use of AI but I am still waiting to see any meaningful price cuts of their products from the said companies, etc.

Otherwise this will mean that they are doing this just to increase their profit margins and please their shareholders and don't care about their customers or workforce.

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[-] azimir@lemmy.ml 17 points 8 months ago

The core thing the rich left out when they invented "Trickle Down Economics" was that it's not money that trickles down onto us.

Same goes for efficiency or productivity improvements. Those haven't done to the US workers since Nixon, and definitely not since Regan.

[-] whygohomie@lemmy.world 22 points 8 months ago* (last edited 8 months ago)

Trickle down wasn't invented in the 1980s. It was a rebranding of what was previously pilloried as horse and sparrow economics in that if you let horses gorge on oats, some undigested oat will pass through their systems and be deposited in the fields for the sparrows to eat.

Gee, I wonder why they rebranded.

[-] Susaga@ttrpg.network 8 points 8 months ago

Human centipede economics.

[-] disgruntledbroad@lemmy.world 4 points 8 months ago

Far more accurate lol. Nothing's trickling down except some half-digested oats covered in horseshit

[-] azimir@lemmy.ml 1 points 8 months ago

You're correct. I'd forgotten about Horse and Sparrow.

this post was submitted on 01 Mar 2024

245 points (94.9% liked)

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