Behold prices reallocating resources from ordinary households to the more urgently needed data centers.

You're probably right about the spending. My data points are coming from my social circle: lots of people tightening belts and not doing things like kitchen remodels or travel.

Scoresby

It would be nice if we had more functional job markets. 

A flood of nearly indistinguishable applicants is a hiring committee’s worst nightmare, especially if none of them are particularly suited to the job.

Undisciplined

Au contraire, there is a lot of spending, but it's all going to AI infrastructure, and gamers can't get their hands on RAM.

As to the overall jobpocalypse, yeah I think it'll be bad.  Optimistically, it means people can pivot to other tasks that provide more value to each other.  On the pessimistic side, people won't be able to retrain their skills in time, or there won't be enough demand for their skills for them to support themselves.

news

tech

Oracle is cutting up to 30,000 employees to pay for AI data centres

Au contraire, there is a lot of spending, but it's all going to AI infrastructure, and gamers can't get their hands on RAM.

As to the overall jobpocalypse, yeah I think it'll be bad.  Optimistically, it means people can pivot to other tasks that provide more value to each other.  On the pessimistic side, people won't be able to retrain their skills in time, or there won't be enough demand for their skills for them to support themselves.