Evidence for that is Apple. The one company that didn't go on a hiring binge during the Covid years is also the only company not doing mass layoffs. What a curious coincidence.

AI is providing a cover story for incompetent executive management decisions at firms worth trillions of dollars. I'm not saying anything about how useful or not useful AI will actually be, but it's clear that these geniuses funded a bunch of dead-end projects chasing fool's gold, and then they needed to free up capital to get in on what could be an actual gold rush.