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While Dorsey noted the layoffs were in part a reaction to overhiring during COVID, they follow AI-driven doomsday anxiety among workers and investors alike: Citrini Research’s “Global Intelligence Crisis” Substack post imagined a scenario in 2028 where unemployment tops 10% and the S&P 500 tanks.
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He draws parallels to chlorofluorocarbons pollutants released from refrigerators that bore a hole in the ozone layer last century, and were eventually banned.