Also not great? The fact that a lot of tech CEOs seem to be watching what Musk is doing at Twitter with great interest. To paraphrase Scott Galloway from the high-profile tech podcast Pivot, if Musk can pull off running a major tech company with about 25% of the staff it had previously, then chances are every other tech CEO will promptly follow suit. From the sidelines, Musk’s shenanigans seem chaotic. However, they may soon become a playbook.
The death of the woke business model that is. Tremendous fun. And also rather the point of capitalism. For if we can do this task with fewer people then that frees up the labour to go assuage some other human need or want. This is also known as increasing labour productivity, the very thing which, in the long term, dictates human living standards. The lust for profit is the very thing which keeps people testing whether this thing can be done at lower cost – with less human labour that is.
Or, as we’ve been known to say around here, jobs are a cost, not a benefit. The aim and purpose of all economic advance is therefore to kill jobs.