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The Sequence Scope: ML Talent Layoffs and Priorities Reset
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📝 Editorial: ML Talent Layoffs and Priorities Reset
We are living through one of the most impressive corrections in technology market valuations of the last two decades. Since the 2008/09 financial crises, public markets have been in a 13-year bull run that has concurred with the golden era of machine learning (ML). As a result, most tech companies hired ML talent aggressively and embarked on super-ambitious AI projects. In recent days, we have witnessed the shutdown of innovative AI startups such as Argo AI and Kittyhawk, as well as massive ML talent layoffs from companies like Stripe, Meta, SoundHound, and many others. These layoffs have, awkwardly, coincided with sizable funding rounds by ML startups in areas such as generative AI.
What’s really happening with ML talent?
The explanation is that ML focus is changing given the current market conditions. During the bull market, large tech companies tended to over-hire ML talent, and funding was available for…
