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Entry-level jobs down by a third since launch of ChatGPT

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120 points lsharkey602 | 1 comments | 30 Jun 25 11:38 UTC | HN request time: 0.212s | source
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honkycat ◴[30 Jun 25 13:44 UTC] No.44423200[source]▶
It's not AI. We are in a recession caused by fear and instability.

Tech may just be dying in general.

This could finally be the collapse we have been waiting for.

While the US was allowing capitalists to hoard all of the USs excess capital, China was facilitating the development of important industries via central planning.

Look at Intel. The owning class has become so greedy and incompetent. They aren't even running functional companies anymore: just grifting for government money then using that for stock buybacks.

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chrisco255 ◴[30 Jun 25 14:08 UTC] No.44423486[source]▶
Look at Nvidia (also US company) instead of Intel, it's what now, a $3T market cap? BTW, that capital was created, not hoarded. Many companies fade from glory or their peak at various times, but capitalism ensures that a dynamic and ever-shifting set of companies is thriving based on demand and efficiency. The train keeps going.
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1. timacles ◴[30 Jun 25 15:14 UTC] No.44424349[source]▶
> capitalism ensures that a dynamic and ever-shifting set of companies is thriving based on demand and efficiency

That form of capitalism is dead. There is no free market anymore (if there ever was). We currently have crony capitalism that operates on being able to secure cheap capital through "other" means.

There is no more efficiency in the current markets. Everything is massively over valued. Financial engineering is the name of the game. Major banks gamble with our money and when they collapse they get bailed out. That is not market efficiency.

> The train keeps going.

The only train that keeps going form here on out, is larger companies swallowing smaller companies. And the top siphoning wealth from the bottom.

Real capitalism would have had several market correction in the last 15 years, but the USA just keeps on printing money.