Meta announcing massiv layoff, this is bad for the economy; the people, as it creates massiv unemployement, and just show that spending on AI was not the smartest move after all.
AI did not replace any job, and it did not create any wealth yet. This is why AI is considered a speculative bubble (like how the Dotcom was). It will take another 20 years before real wealth and profit can be extracted from AI, but until then...