- Over 85,000 tech jobs were cut in 2026, a 33% increase compared to the same period last year.
- Michael Burry warns society is heading toward a Snow Crash cyberpunk dystopian future.
- Meta moves thousands of workers into AI roles as Zuckerberg says success is not guaranteed.
Technology companies are cutting jobs at a rapidly increasing pace as artificial intelligence reshapes the industry, and famous investor Michael Burry appears deeply concerned about where things may be heading.
According to employment firm Challenger, Gray & Christmas, more than 85,000 jobs have already been eliminated across the tech sector in 2026, marking a 33% increase compared to the same period last year.
Meta recently began another round of layoffs affecting roughly 8,000 employees, or about 10% of its workforce. Meanwhile, Intuit announced plans to reduce around 3,000 jobs globally as it increases its focus on AI-driven operations.
Meta CEO Mark Zuckerberg reportedly told employees that “success isn’t guaranteed” in the AI era, even as the company aggressively expands its artificial intelligence efforts.
AI Is Reshaping Corporate Hiring
While companies continue reducing headcount in traditional roles, many are simultaneously shifting resources toward AI development and automation. Meta is reportedly moving thousands of workers into AI-related positions as the company restructures internal teams around future technologies.
Jeff Bezos also recently argued that AI could ultimately increase productivity and create labor shortages rather than permanent unemployment. Still, concerns about the pace of change continue to grow across financial markets and the broader workforce.
Michael Burry Raises Alarm Over AI Trends
Burry, best known for predicting the 2008 financial crisis, reacted strongly this week to the rise of AI disruption.
In a post shared through his Substack, Cassandra Unchained, Burry warned society could be moving toward what he described as a “Snow Crash cyberpunk future,” referencing the famous dystopian science fiction novel.
Concerns Grow Around Tokenized Stock Trading
The discussion around tokenized equities has become increasingly controversial inside financial markets. Some proposals being explored by regulators and fintech firms could eventually allow stocks to trade 24/7 using blockchain infrastructure instead of relying entirely on traditional stock exchange hours.
Critics argue such systems could increase volatility, weaken investor protections, and create new risks if stocks begin trading continuously like crypto assets.
Burry appears skeptical about the direction financial markets are heading, especially as AI, automation, and tokenized finance begin merging into mainstream systems faster than many expected.
Related: Binance Records 122M XRP Outflows in Whale Transactions, First 100M+ Day Since February
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
