"That's when Dorsey hit the news by discharging almost half of his workforce. His explanation was that recent advances in AI tools are forcing Block to remake itself as a slimmer, more nimble entity-and that other companies will follow suit."
"The move was classic Dorsey, who ignores many of the conventions of corporate mogulhood. He lives a nomadic existence, rocks a hipster beard, and advocates meditation. He is a life-long proselytizer of open source protocols and decentralization. And he's quick to embrace any technology that he perceives as the future, be it Bitcoin or AI."
Jack Dorsey, cofounder and CEO of Block (formerly Square), made headlines by cutting approximately 40 percent of his workforce. Dorsey justified this dramatic restructuring by citing recent advances in artificial intelligence tools that necessitate reimagining Block as a leaner, more nimble organization. He believes other companies will follow similar paths. Block currently operates with a $39 billion market cap and generated nearly $3 billion in profit last quarter before the layoffs. Dorsey's decision reflects his characteristic willingness to embrace emerging technologies and challenge conventional corporate practices. Known for his unconventional leadership style, nomadic lifestyle, and advocacy for decentralization and open-source protocols, Dorsey positions AI-driven restructuring as essential for future competitiveness.
Read at WIRED
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