> The new company has until now kept a low profile, and when it was started is not even clear.
Any more details? Where is it located? Who is working there,
For $6.2 billion raised I’m surprised their aren’t more details
Any more details? Where is it located? Who is working there,
For $6.2 billion raised I’m surprised their aren’t more details
Personally I let go a developer I was using because I only had them around for front end work and now I'm much more productive just doing that with Claude Code directly
So the returns for the average business are largely due to less employee and contractors spending
Is there any concrete evidence that lower hiring is due to AI, and not due to some other factor - such as a stalling economy? I suspect AI growth is the only thing currently staving off a full-blown recession.
There is significantly less hiring for roles that AI can replace easily compared to roles that it can't replace easily
If there was decreased hiring simply because of the economy then why would it only be impacting certain job roles? Hmm... Mystery...
I think you are on to something here. AI is what gives people the ability to consolidate many roles into one.
Like in my example, when I fired my front-end developer, I now can easily do that task.
Or, a marketing generalist can now create blog posts using ChatGPT instead of needing to also have a content writer
To your point about "non-essential": "Front-end development" is not necessarily something I would consider non-essential, but maybe "front-end developer" is now. Something to think about
Or if you do have the technical skill for front-end work, you could have done it without the AI.
I do doubt this, however, because AI assisted programming does not increase productivity for skilled workers as much according to studies.
But AI coding got to the point where, for me personally, it took less of my own time and effort to work directly with the AI (Claude Code) to do the front-end tasks required compared to working with the developer, reviewing their code, etc.
I'm not "vibe coding" or adding technical debt.
> you could have done it without the AI.
Technically anyone could do anything, but there are finite things in this world like the number of hours in a day lol
> according to studies.
Great, I don't care about the "studies". I'm talking about how things work for me personally in the real world and giving a concrete example of how AI spend has replaced an employee but you are welcome to ignore that
Also, it should be noted that in studies, the conclusions are typically based on an average or median, so some people will see a benefit, and some people won't... and that will be based on a number of factors
No it's not. Go short the AI companies though if that's what you think
Now if things will fail, how and when is a different discussion.
Yes there are circular deals going
Yes there is actual underlying spending from the average consumer and business that makes these valuations largely realistic
Private companies don’t need to publicly divulge a lot, though. It’s between the company and their investors. It’s only once a company wants to trade publicly that they have to provide a lot of public details and financials.
A sole proprietorship doesn’t have to register anything ever at all.
There are ways to do business activities yourself without registering an official business, though it’s generally discouraged because forming an LLC is so cheap and easy and provides some protections and benefits.
One of the more absurd things I can do is have two LLCs own each other, and then have outside management.
However, details like owners and organizers aren't always Available.
It gets further complicated with Series LLCs.
Congress passed a law that would have required "beneficial ownership" registration with law enforcement (FinCen), however, this registration would not have been public.
Further, it was found unconstitutional and enforcement of the registration requirement indefinitely suspended.
In general, if you are doing business in a state under a name or entiry other than your own legal name, you will be required to file something with the state, and that filing will include a registered agent where legal process can be served on the business, and this information will be public.
But if they aren't doing business publicly yet, no one will know the name of the business, so they can't look it up! It sounds like the name mentioned in the article may just be a code name.