Tech
Where Thousands Of Tech Workers Went After Mass Layoffs
Tech companies shed more than 386,000 jobs last year and in the first half of this year. And that number is climbing. But while layoffs have taxed workers, a booming artificial intelligence market is giving the industry a renewed sense of optimism. Generative AI startup deals announced or finalized In the first quarter of this year totaled more than $12 billion compared to about $4.5 billion invested in the space last year, according to PitchBook. Amazon, Alphabet and Microsoft have also made significant AI investments. So how have layoffs impacted tech workers and what will the AI boom mean for their future? Watch the video to learn more.
Chapters:
00:00 — Introduction
02:49 — Layoffs
06:23 — A.I. Boom
09:48 — What’s next?
Produced by: Shawn Baldwin
Edited by: Nic Henry
Camera: Andrew Evers
Supervising Producer: Jeniece Pettitt
Graphics: Jason Reginato, Alex Wood, Christina Locopo
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Where Thousands Of Tech Workers Went After Mass Layoffs
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Tech
How China came to dominate the global EV factory boom
Chinese automakers have made over $100 billion in EV and battery investments abroad since 2019, according to Atlas Public Policy, far outpacing US firms. CNBC’s Robert Ferris has more on how the Asian country got here and why.
Chapter 1: What is happening – 01:18
Chapter 2: Why this matters – 03:05
Chapter 3: The future – 06:00
CREDITS:
Produced by: Robert Ferris
Shot and edited by:
Additional Editing: Darren Geeter
Animation: Jason Reginato, Emily Park
Senior Managing Producer: Tala Hadavi
Additional Footage: Getty Images, AP
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How China came to dominate the global EV factory boom
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Tech
Cisco Buys AppDynamics One Day Before Its IPO | Tech Bet | CNBC
Cisco buys tech startup AppDynamics one day before its IPO. Here’s what to expect next.
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Cisco Buys AppDynamics One Day Before Its IPO | Tech Bet | CNBC
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Tech
AI’s Next Race: Cost, Control, and Compute
The AI race is shifting from who has the biggest model to who can run, control and deploy AI most effectively.
Perplexity CEO Aravind Srinivas joins to discuss the company’s new orchestrator model, why he’s building on open-source Chinese AI, and his argument that “token value per watt” may decide the next phase of competition.
Then, Benchmark general partner Peter Fenton and Ollama CEO Jeff Morgan discuss the rise of open models, why enterprises are increasingly running models they can download and control, and what Ollama’s growth says about where the AI ecosystem is heading.
Together, the conversations get at one big question: in AI’s next race, will the winners be defined less by model access and more by cost, control and compute?
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AI’s Next Race: Cost, Control, and Compute
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Tech
How Warsh’s Task Forces Will Reshape The Federal Reserve
Federal Reserve Chairman Kevin Warsh is floating major revisions to the central bank’s approach to assets, productivity, data, inflation and public communications. To achieve this, Warsh has created 5 “task forces” while soliciting interest from individuals outside of the Fed. This presents an opportunity for a small unelected group to influence the broader U.S. economy and value of U.S. dollars circulating globally. CNBC’s Matt Peterson reports.
Credits
Reporter: Matt Peterson
Produced and Edited by: Carlos Waters
Camera by: Charlotte Morabito
Animation: Jason Reginato
Senior Managing Producer: Shawn Baldwin
Additional Footage: Getty Images
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Want to get ahead at work? Then you need to learn how to make effective small talk. In CNBC’s new online course, How To Talk To People At Work, expert instructors teach you how to use everyday conversation to gain visibility, build meaningful relationships and advance your career. Sign up now: https://cnb.cx/4sGlSkh
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Tech
How AI Super PACs Are Shaping The Midterms
Members of Congress are debating the future of AI regulation at a pivotal moment for the technology. In an effort to influence the next class of lawmakers, dueling super PACs backed by AI giants like OpenAI and Anthropic are pouring millions of dollars into the midterm elections. CNBC’s Emily Wilkins breaks it down.
CREDITS:
Reporter
Emily Wilkins
Produced by
Macklin Fishman
Additional Production
Karen James Sloan
Shot by
Mickey Todiwala, Fred Soffa
Edited by
Andrea Miller, Darren Geeter
Animation
Jason Reginato, Emily Park
Senior Managing Producer
Shawn Baldwin
Additional Footage
Getty Images
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@Zoids-bf6op
December 16, 2023 at 1:53 pm
Transiting into cloud right now from game dev. 🙋♂️
@smadeelibrahim
December 16, 2023 at 1:53 pm
U r lucky u get two calls on 176 applies only
@cindyl3297
December 16, 2023 at 1:53 pm
It's hard being a normie….
@Exascale
December 16, 2023 at 1:53 pm
Software engineers are useless in society. 99% of existing software is fine the way it is and they brainwash everyone to believe that we need constant updates and upgrades. Software engineers are only in it for the money and I honestly have not sympathy for these entitled parasites of society.
@mario6279
December 16, 2023 at 1:53 pm
The thing I hate about capitalism is it saturates any art form in for a cheaper less organic substitute. Technology and wealth don’t go together it’s a recipe for a disaster when the people with money don’t understand the technology. People think AI is the next god hand. Nothing can replace a human idc what anyone says.
@noam65
December 16, 2023 at 1:53 pm
It was a well researched story, but what I was also hoping to know was a few statistics. What proportion are hired elsewhere? Was there a pay cut for them? What industries did absorb them? How many are still searching.
@user-xb9dx2mp1z
December 16, 2023 at 1:53 pm
I find this so funny. I know a guy that works as a software engineer at a top bank and he brags about how he doesn’t have that much work besides fixing code in the projects while making lots of money. I’m confused but also I guess it’s the way things work
@henr0les
December 16, 2023 at 1:53 pm
AI will mainly take tech lower and entry level jobs..!
@xxxx-tb4de
December 16, 2023 at 1:53 pm
Companies hired too many in the last couple of years in technology and now has to bring them down so that unneeded workers are let go. Just go to any IT department in USA and most of them are keeping "busy" maintaining/administrating software.
@haibaidzokwomandre1468
December 16, 2023 at 1:53 pm
My own perception: pentesting and strong knowledge of deeplearning . that is all I bet on
@AO-kr9kd
December 16, 2023 at 1:53 pm
Hence why I am leaving for a more stable career in healthcare. I started an MS program in AI. An area that they have lauded as the "golden egg" of the tech industry. Meanwhile, I'm getting turned down for graduate internships left and right. Plus, do I even see myself at a desk in 10 years staring at a screen? Nope! At least in healthcare people will get sick and go to the hospitals no matter how bad this "pseudo -inflated" economy gets.
@watchout5508
December 16, 2023 at 1:53 pm
IT SHOULD BE ILLEGAL TO FIRE SOMEONE (OR EVEN SO MANY PEOPLE) VIA EMAIL!!!
@ViceCoin
December 16, 2023 at 1:53 pm
I'm studying AI and web3 to develop DAPPS.
@rja62b
December 16, 2023 at 1:53 pm
this video is delusional. Not all software engineers that are laid off will be able to catch up to the AI boom. We just have no training in AI if our last jobs are not AI related. Many will struggle to catch up with the new tech while searching for a source of income, which interviewing is like a fulltime job in the tech industry. There are many rounds of very difficult and competitive interview questions
@bto9273
December 16, 2023 at 1:53 pm
Those techy guys majority of hem Indian can go back to India see ya
@markbrad123
December 16, 2023 at 1:53 pm
Might be a good idea for college leavers to delay a few years before doing their degree so it up to date with all the new changes.
@mmanzur
December 16, 2023 at 1:53 pm
Labor laws in USA are a joke
@Reinierogomez
December 16, 2023 at 1:53 pm
🌹I’m 50 years old living in Canada Albert, I’m willing retired at 55 if things keep going the way I planned bought my first house last month and i can’t be more proud that I’m now I’m glad I made a very good productive decisions that has changed my financial status for forever
@hersdera
December 16, 2023 at 1:53 pm
For salary earners having a passive source of income is the best thing you could have , because aside the the fact that it isn’t always enough you could lose your job any day at any time , have something to fall back to is crucial , for me it is trading the Forex and crypto market and no I didn’t have that much knowledge to begin to earn that’s why I said passive income, I leave the profit making to the pro like my Advisor 'Margaret Johnson Arndt' , who has been doing a wonderful job
@ewed418
December 16, 2023 at 1:53 pm
People think IT jobs are made of developers only. The field is so wide is mind boggling. Service managers, quality, delivery,scrum, integration HUGE.
@a.z.b.1916
December 16, 2023 at 1:53 pm
Soon we will be able automate just about anything by using AI and that will make millions of people redundant in the workplace.
Its great that this will push up the global economy but what are they going to do with all those people whose contribution no longer required?
Just abandon them like that? Let them starve to death?
Problem with all of this is that it only gonna make the rich richer but will be a total backstab to the working class.
@Chris-rs1kt
December 16, 2023 at 1:53 pm
is the open work permit or the variety of other work permits are just limited to tech, or other occupations such as engineering and finance are qualified to apply as well?
@user-xm8tx3xt6q
December 16, 2023 at 1:53 pm
Looking at the cart of percentages of who got laid off… Since when HR and talent sourcing, marketing, and project management became tech jobs? Is there data on real tech jobs layoffs.
@dsoprano13
December 16, 2023 at 1:53 pm
It's also worth noting that more jobs are remote now and with that you're competing with the entire country and not just the handful of folks in a 25 mile radius of the company. Companies are flooded with options and the more options they have I think the more unrealistic their expectations become. Standing out has become increasingly hard.
The current interview structure is beneficial for companies but sucks for applicants. Literally 4 or more rounds of interviews to get hired. It's a ridiculous tournament structure. Basically, it's Squid games in these streets.
@WoodimusMaximus
December 16, 2023 at 1:53 pm
I was one of the many laid off. I went to something I loved.
@fuzzypanda1684
December 16, 2023 at 1:53 pm
I really feel for these workers. If I was getting paid 6 figures to show up to the office around noonish, two or maybe even three days a week, spend an hour in the meditation room, then work up a sweat in the on site gym, enjoy a free protein shake in the fully stocked cafeteria, then unwind on the terrace enjoying the amazing view, followed by chilling out in the game room for a while, then I guess reading a few emails before finally going back to my lush, luxury apartment, then got laid off, I'd be mad too! You mean I actually have to WORK and won't even get paid an insane salary?? What is this, the Soviet Union?
@johnbascom4523
December 16, 2023 at 1:53 pm
I'm certainly not going to feel sorry for tech workers considering what they earn.
@pulanala1421
December 16, 2023 at 1:53 pm
So a video producer is considered a tech worker? 🤮
@dcamron46
December 16, 2023 at 1:53 pm
Isn’t it a bit misleading to act like all these were stable existing jobs that vanished? Most were created during the crazy pandemic tech boom with company valuations soaring. Just think it’s worth clarifying that — it’s not really a fundamental change from 2 years prior, it’s just undoing the crazy hiring boom the prior few months…
@lidiatoledo4712
December 16, 2023 at 1:53 pm
I’m graduating next May and the new grad roles are practically non-existing now 😢
@JBoy340a
December 16, 2023 at 1:53 pm
AI is so hot now. It is the latest tech gold rush. Billions will be wasted and tens of billions made.
@SaurabhOKumar
December 16, 2023 at 1:53 pm
The question is then, how the collective human value will increase… Can we now tag human life as an "existenting entity" as a replacement for the circulating standard cash based monetary economy, in other words, can we value human life by making their material existence as a monetary value by birth and let each one of us have a circular material access and growth in our lives – by living our lives better and better and upgrading ourselves homogenously and collectively leading to upliftment of the whole system as well as it's byproduct? Because what is degrading the system is the difference between haves and have not and those who control more data relative to those who do not! In the future CEOs, managers, specialists, technicians, will have no meaning except of being more selfish, manipulative and obsessive about controlling others for mainly and merely for the nature of their job sake and imposing the cultivation of the CEO as "the top boss" stigma of looking forward to such personalities each time with no valuable meaning whatsoever!
@Av-fn5wx
December 16, 2023 at 1:53 pm
I wish every startup is transparent and true to themselves about the project they are working on and the number of engineers or other positions required for it. Impractical growth projections and high error margin extrapolations are whats causing this problem. Just recruit whats required and you dont have to layoff in big numbers.
@Anonymous.24.
December 16, 2023 at 1:53 pm
Tech Bros and Girls are in shambles 😂 I remember when I got my trucking license 12 years ago, my job was threaten with A.I. They told us blue collar workers will be replaced & to learn a new skill… fast forward today, my net worth is over 2 million and I own 3 properties while driving my Big rig.
These tech nerds better start applying to Walmart stocking shelves or Starbucks because A.I is coming 😂😂😂😂