Has the decline of knowledge work begun?

I’m surprised not many people talk about this, but a big reason corporations are able to do layoffs is just that they’re doing less. At my work we used to have thousands of ideas of small improvements to make things better for our users. Now we have one: AI. It’s not that we’re using AI to make all these small improvements, or even planning on it. We’re just… not doing them. And I don’t think my experience is very unique.

De-scoping is also a commonly-cited result of higher interest rates. We recently lived through a prolonged episode of zero-interest-rate-policy (ZIRP), which encouraged long-term and risky projects. When interest rates go up, the minimum acceptable return-on-investment (ROI) required to lure investment money away from low-risk investments like government bonds also increases correspondingly.

I'd be willing to bet that the biggest reason is that there hasn't been any antitrust action against the big tech companies. They just sit at the top, siphoning value from every other market in the world. If you need to use the internet in any way, FAANG taxes you.

None of these big tech companies really need to grow bigger. The smartphone is essentially done. AWS just prints money. Social/consumer apps are "done". What more is for them to do but collect rent?

The US government needs to break them all up. That'll oxygenate the entire tech sector, unlock value for investors, and kickstart the playing field for startups.

Google, Apple, Amazon, Meta, and maybe Microsoft. Break them up.

Maybe Microsoft

Apart from their gaming department absorbing every big competitor, I can't think of ways Microsoft is abusing monopoly power like the rest of the mentioned companies.