CZ on Block Layoffs: Embrace AI or Be Replaced by AI

BlockBeats News, February 27th, Binance founder CZ commented on social media that "Block plans to lay off nearly half of its employees, betting on AI to improve company efficiency," stating: "The reality is, either leverage AI to the moon, or wait to be replaced/laid off by AI."

BlockBeats previously reported that Twitter founder Jack Dorsey's Bitcoin payment company Block is laying off 4,000 employees, with a layoff rate of nearly half. The company is placing its bet on artificial intelligence transforming future labor productivity. In response to the layoff plan, Block's stock price soared 22% in after-hours trading.