The author describes hiring strategy relative to Fed policy as one assumption that presumably motivates the current context in the market, but completely fails to make a point about AI, or to generally back their claims. In fact, even the main claim seems to be pulled out of the hat wrt to Europe where there’s no Fed. No hiring/layoff numbers, etc. I get it that it’s just a guy with a blog, but it’s on top of HN now, and IMO vacuous, describing one motivation that’s been floating around for quite some time. Perhaps as long as they wanted to write about it until this “last straw”

Europe is still connected to US financial markets. The USD is the most influential currency. When it contracts, money in general contracts.