Block and Coinbase layoffs are driven by crypto downturns, not AI
Alex Kantrowitz · The Unlikely Anthropic & SpaceX Marriage, OpenAI Trial Revelations, AI Layoffs Or Cope? · May 11, 2026 · at 55:10
Alex Kantrowitz questions whether workforce reductions at Block and Coinbase were caused by AI efficiencies or market downturns.
0:00 / 0:14exact quote · 14.9s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“Two of the biggest companies that have done this, crypto companies, and we know crypto's on the outs. So it leads me to believe it might be business, business realities versus AI improvement. Funny that Brian Armstrong and Jack Dorsey have both seen the light about AI as crypto hits its downturn.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Alex Kantrowitz
Kantrowitz: OpenAI and Anthropic head toward trillion-dollar IPOs within next year
“We have open AI and Anthropic. Now they're going to do fifty billion dollars in revenue this year. They're both headed towards trillion dollar IPOs within the next year.”
Meta AI leaders discussed temporarily licensing Google Gemini for their products
“The leaders of Meta's AI division Have instead discussed temporarily licensing Gemini to power the company's AI product.”
Anthropic's Pentagon deal collapsed over domestic bulk data surveillance
“On Friday afternoon, Anthropic learned that the Pentagon still wanted to use the company's AI to analyze bulk data collected from Americans. This could include information such as questions you ask your favorite chatbot, your Google search history, your GPS tr…”
Kantrowitz: Jensen Huang privately cited OpenAI's lack of discipline in deal pullback
“In recent months, NVIDIA CEO Jensen Wang has privately emphasized to industry associates that the original one hundred billion dollar agreement was non-binding And not finalized. He also said, he also privately criticized what he described as a lack of discipl…”
Kantrowitz: Unsealed deposition shows Sutskever accused Sam Altman of chronic lying
“The very first page says, Sam exhibits a consistent pattern of lying, undermining his execs, and pitting his execs against one another. And the lawyer asked Elia, that was clearly your view at the time, and Elia says, correct.”