not AI , but change in USA tax code is causing layoffs of IT people in USA !!! But IT companies are praising AI for this layoff to create an IT share bubble . section-174 of tax code in USA says that if a company has paid say us$ 100,000 in year 2021, then they can deduct all that us$ 100,000 from revenue of year 2021, to calculate profits . now new section says that expense must be amortized over 5 years and 15 years in some cases !!! So if a company gives salaryof us$ 100,000 to a software developer in year 2025, then in some case, they can deduct whole of us$ 100,000 from revenue, but in most cases, they can deduct only us4 20000 in each year from 2025 to 2029, totalling us$ 10000, but split across 5 years !!! And in some casdes, it will be 15 years !!! So many companies are layying off IT people And this is being used to create a claim that "AI is now doing a lot of IT work" and AI bubble is being created . https://www.axios.com/2024/01/20/taxes-irs-startups-section174?utm_source=chatgpt.com . . . Original Post 👇🏼 https://www.facebook.com/share/16XJ957Dng/