Don’t Blame the Robots, Blame the CFO
Dear Readers,
Today I want to take a clear look at the recent wave of layoffs and the growing claim that AI is behind them. I also have some charts to help illustrate current trends in labor.
Secure your bitcoin’s future—and your family’s peace of mind. Too many heirs lose access to bitcoin because there’s no clear inheritance plan. We’ll show you how to change that.
On Wednesday, Nov 19 at 11:00 AM CT, join Dhruv Bansal (CSO, Unchained), Jeff Vandrew (CFO & CLO, Unchained), and Joshua Preston (CEO, Gannett Trust) for a live fireside chat on how to make your bitcoin legacy secure, simple, and built to last. We’ll cover:
Transfer on death beneficiaries: A new Unchained feature for designating who inherits your bitcoin and removes uncertainty for your family.
Connections: Our vaults are uniquely built to let you share custody to help your heirs or trusted partners securely recover your bitcoin when it matters most.
Estate planning: How Gannett Wealth Advisors’ expert financial guidance integrates with Unchained to protect your keys and your legacy.
Bring your questions—this conversation is designed to give you clarity on how to make inheritance seamless with real bitcoin, not IOUs.
WHEN: Wednesday, Nov 19 at 11:00 AM CT — online, free to attend.
The AI Layoff Story
Last week amid the government shutdown, Challenger, Gray and Christmas, a Chicago-based outplacement firm that has tracked corporate layoff announcements across the United States for sixty years, reported more than 153,000 job cuts in October, the most for any October since 2003.
Challenger was quick to note that AI is part of the conversation this year, and several companies have leaned into that narrative. Klarna credited AI for shrinking its workforce, Salesforce said AI can do half the work at the company, and Duolingo dropped contract work that AI can handle. The idea that AI is suddenly replacing white-collar workers is now everywhere.
But the data tells a different story. Economists interviewed by CNBC said there is very little evidence that AI is responsible for layoffs at any meaningful scale. Bloomberg pointed to weakening consumer spending, rising costs, and tariff pressure. Even Challenger’s own analysis connected the cuts to macroeconomic stress, not automation. AI is the explanation companies are offering, not the underlying cause.