The layoffs come after a strong quarter for Block, with revenue, profit, and customer base all growing. But Dorsey appears to think that the rise of AI makes this move inevitable, presenting the decision as a choice between doing one sharp cut now, or laying people off slowly over a longer period of time.
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currentStep.type === 'Failure'
"That won't reverse long-term trends in cinema attendance, but it may reduce the disruption that filmmakers feared under a Netflix-led model," he says.