It is free for you to say this, because if you're wrong, there will be no consequences. Words are cheap. No different than various CEOs saying "AI will replace these workers" and now having to hire back those they laid off. Klarna, Salesforce, etc. Will be a great comment to reference in the future to capture the exuberance of the times.

Companies Are Laying Off Workers Because of AI’s Potential - Not Its Performance - https://news.ycombinator.com/item?id=47401368 - March 2026

> Some companies that announced large headcount reductions because of AI have since revised their talent strategies or have faced public criticism. Klarna, for example, the Swedish fintech that offers “buy now, pay later” e-commerce loans, reduced its human workforce by 40% between December 2022 and December 2024 as it invested in AI. (The company used a hiring freeze and natural attrition, not layoffs to achieve this cut.) But in 2025 the company’s CEO told Bloomberg that Klarna was reinvesting in human support, explaining that prioritizing lower costs had also led to “lower quality.” A spokesman told HBR that the company has hired about 20 people to deal with customer service cases the AI assistant can’t handle, and that the use of AI “changes the profile of the human agents you need in the customer support role.” The language-learning company Duolingo announced that AI would be used to replace many human contractors, and it faced considerable criticism on social media.

> For one, AI typically performs specific tasks and not entire jobs. As an example, Nobel laureate Geoffrey Hinton stated in 2016 that it was “completely obvious” that AI would outperform human radiologists within five years. A decade later, there is no evidence that a single radiologist has lost a job to AI—in part because radiologists perform many tasks other than reading scan images. Indeed, there is a substantial shortage of them.

The 'AI-Washing' of Job Cuts Is Corrosive and Confusing - https://news.ycombinator.com/item?id=47401499 - March 2026

* Companies are "AI washing" layoffs, blaming artificial intelligence for workforce reductions they would have made anyway, according to OpenAI CEO Sam Altman.

* A Resume.org survey found that 59% of hiring managers say they emphasize AI's role in layoffs because it "is viewed more favorably by stakeholders than saying layoffs or hiring freezes are driven by financial constraints".

* The stated reason for the layoff matters more than the fact of the layoff, and framing cuts as proactive restructuring around AI can result in a valuation boost, even if the technology doesn't actually work.

> The AI premium isn’t even reliable. By late 2025, Goldman Sachs group Inc. found that investors were actually punishing AI-attributed layoffs, with shares falling an average of 2%. The analysts concluded that investors simply didn’t believe the companies. But Block’s surge shows the incentive hasn’t vanished. It’s just a lottery instead of a sure thing. And executives keep buying tickets.

> The broader data confirms the gap between narrative and reality. A National Bureau of Economic Research study published in February surveyed thousands of C-suite executives across the US, UK, Germany and Australia. Almost 90% said AI had zero impact on employment over the past three years. Challenger, Gray & Christmas tracked 1.2 million layoffs in 2025, and AI was cited in fewer than 55,000 of them. That’s 4.5%. Plain old “market and economic conditions” accounted for four times as many.

So! Sophisticated capital market participants don't believe this; why do people here?

AI is making CEOs delusional [video] - https://www.youtube.com/watch?v=Q6nem-F8AG8

https://en.wikipedia.org/wiki/Dunning%E2%80%93Kruger_effect

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