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Calacanis argues recent tech layoffs are 'AI washing' to cover for post-COVID overhiring and mismanagement, not genuine AI-driven efficiency. He cites analysis that Block's planned 50% cuts were due to operational inefficiency, not AI.
The 'SaaS Apocalypse' narrative took hold as investors feared AI was 'too good', leading to market carnage. Block cut 40% of its staff, cited as a portent for aggressive AI-era recalibration.
Block held 9,032 Bitcoin worth $675 million as an investment as of March 31, making it the 14th largest public corporate holder. Its stock price rose nearly 10% year-to-date while Bitcoin's price fell over 14%.
Claude assisted him in updating DNS records on Squarespace to ensure email deliverability, a task he would have previously outsourced.
Jason B experienced a Square Terminal UX failure where a Lightning payment completed on his side but was canceled by the merchant, resulting in a double charge and lost payment.