When Spotify announced its largest-ever round of layoffs in December, CEO Daniel Ek hailed a new age of efficiency at the streaming giant. But four months on, it seems he and his executives weren’t prepared for how tough filling in for 1,500 axed workers would be.
The music streamer enjoyed record quarterly profits of €168 million ($179 million) in the first three months of 2024, enjoying double-digit revenue growth to €3.6 billion ($3.8 billion) in the process.
However, the company failed to hit its guidance on profitability and monthly active user growth.
Edit: Thanks to @Zerlyna@lemmy.world for the paywall-free link: https://archive.ph/wdyDS
It’s that or they think they can simply replace people with AI and call it good
As someone who “makes AIs” professionally (computer vision for diagnostic imaging & GANs for CAD), the typical “executive” doesn’t understand how beneficial, impotent, or dangerous deep-neural-network-based AIs can be in different sets of hands.
I’m not a pure technocracy advocate, but our “LeAdErShIp” is woefully underequipped, at every level.