Sacks says AI accounts for only 4.7% of year-to-date layoffs, likely inflated since CEOs blame AI for poor performance.
“So only 6,000. And if you look at the year to date in the Challenger Gray report, AI has only accounted for 4.7% of total layoffs.”
Sacks cites November Challenger Gray report showing only 6,000 U.S. layoffs attributable to AI, down 53% from October spike.
“The number fell by 53% and only about 6,000 of the layoffs that were announced in November in the entire country were attributable to AI.”
Sacks criticizes the Fed for measuring rental inflation by surveying only 8,000 households instead of using real-time market data.
“And he was telling me that the way they measure inflation for housing or for rentals, which is a major component, is they survey, like, 8,000 households to find out what their rent is.”
“Harvey is a great example of how American companies are building world-class specialized models: they took an open-source base (Kimi K3), post-trained it on legal data, and delivered state-of-the-art performance on legal benchmarks at a fraction of the cost of frontier models. https://t.co/YO2tE0O11f”
Sacks argues Trump's requirement that AI companies build their own power generation prevents residential price increases and can lower prices
“President Trump was ahead of the curve requiring AI companies to build their own power generation so new data centers don’t raise electricity prices for residential ratepayers. Done right, data centers actually lower prices by producing excess power and funding grid upgrades.”