00:00As the global AI debate heats up, another major AI-related discussion is roiling the U.S. tech
00:04capital. Who is reaping the financial benefits of the AI boom and who's missing out, especially as
00:10tech workers in Silicon Valley face layoffs? Bloomberg's California reporter Francesca
00:14Maglioni joins us now. That's the story. There is a very big group of technology industry people
00:19that are missing out here on a wealth boom. What are you reporting? Yeah, I reported that about
00:25twice as many layoffs happened in the tech industry this year. I talked to many tech workers
00:30that were part of the big tech boom a couple years ago and are now finding themselves struggling to
00:34find new jobs and trying to understand how their skills fit into this new labor market. Part of
00:39this is the types of jobs that are currently in favor, very related to AI, and types of jobs that
00:44are not as related to AI. Tell me about that. Yeah, a lot of these people are coders. They got
00:50these
00:50jobs when they just learned a couple languages and that was the best skill you could have a couple
00:53of years ago. And now those jobs are mostly automated. And so all these new jobs have AI
00:58tied next to it. And a lot of people are confused as to just what those skills mean and what
01:02you have
01:03to know to be favorable. Let's very quickly get to the missing out bit. So a lot of these people
01:07are
01:07still searching for jobs, right? They're not working at one of the labs that might go public,
01:11but they want to be a part of it. Yes. Tell me about that. Yeah, I mean, it's very hard.
01:16Every day
01:16there's a new model. Every day there's new skills that they need to learn. And so these people are trying
01:20to catch up, but it's really hard to kind of keep up with the moment. What were some of the
01:24data points
01:24in the story? Yeah, some of the data points that were interesting was that younger workers are
01:29especially vulnerable to AI relative companies and their skills are kind of harder to match with
01:35this new labor market. Okay.
Comments