This 100%. All the layoffs started before AI. High interest rates means businesses can't afford to take risks. Our entire economy is based on easy money from cheap debt. The tech layoffs are about being able to pay for AI whether that's paying for data centers or tokens.

I expect AI use to cause an increase in output, not a decrease in employment. At least right now. In TV and Film it would translate to more content that was too expensive to film before. If your business is making movies and then suddenly the market is flooded with fast and cheap movies, then you're going to make more fast and cheap movies too!

That doesn't explain anything in this article. All the time series go back to 1990 when interest rates were significantly higher any way you look at them.