I think the AI angle is a fig leaf for perpetual mismanagement. Managers at Block privately complained there were a lot of people doing almost no work. Recently, teams have lost people one at a time, sometimes laid off the day after each other.

If they can organize employees to make more money, they will. But they can't and admitted it.

Quite a few people on X mentioned Block went on a top-of-market acquisition spree (Weebly, Afterpay, Tidal) and tripled headcount during Covid.