🚨JACK DORSEY'S BLOCK JUST DID SOMETHING UNTHINKABLE.

Jack Dorsey announced today that Block $XYZwill layoff almost 40% of its workforce due to AI. $MYX

MYXUSDT

Διην.

0.383

-3.03%

And its stock really liked that news.$DENT

DENT

0.000287

-13.81%

$XYZ pumped nearly 24% on this news and has added $8 billion to its market cap.$SAHARA

SAHARA

0.02554

+5.80%

This all looks good for its stock, but the bigger impact is concerning.

Any owner watching Block move will probably think of doing the same thing now.

"Layoff the people and pump the stocks."

This means more people will be out of jobs when the job market is already cooked and the US economy is struggling.

Less jobs ➪ Less spending ➪ Economy slows down ➪ Companies' revenue drops ➪ More layoffs, and this cycle will get really dangerous.