People keep saying this but nothing of the sort has happened.

People continue to work, some proportion of the those working use LLM’s regularly.

Enough time has passed that subjective statements about the future don’t pass muster. Look at the numbers - there has been no large scale lay offs since correcting for over hiring. Has hiring slowed down? Sure. However I’d wager most firms are finding it pretty difficult to think of projects to take that will generate positive NPV. If that’s the case why would they hire? Moreover the focus has returned to cash flows - not product based growth metrics. Which again re-inforces the point about project selection.

Efficiency generated growth does not continue on forever - it’s short lived.