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WSHazel

(770 posts)

4. What does Block do?

Fri Feb 27, 2026, 12:28 PM

Feb 27

I have not done a deep dive on Block, but I do know that at least 1/3 of its revenue comes from crypto transactions, which has had a bad couple of quarters. The company itself seems like a hodge podge of barely related businesses. Honestly, this company seems a lot like the Tender company in the HBO show, Industry, and I wonder if the writers of Industry were looking at this company.

I am not saying Block is a fraud, but this is a strange company and Dorsey may be hiding financial issues with an "AI is coming to the rescue" press release.

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Highlight:

Fintech company Block lays off 4,000 of its 10,000 staff, citing gains from AI [View all] Omaha Steve Feb 27 OP

Unethical capitalists just love layoffs. highplainsdem Feb 27 #1

The cost of AI is paid by the workers fired. patphil Feb 27 #2

Any candidate for anything TheFarseer Feb 27 #3

What does Block do? WSHazel Feb 27 #4

I am suspicious of a 40% reduction at one time genxlib Feb 27 #5

Capitalist Cannibalism bucolic_frolic Feb 27 #6

They tripled headcount from '19 to '23 and after this reduction, they'll still be +50% from then mathematic Feb 27 #7

Yes this is very true fujiyamasan Feb 27 #12

Fuck it. Fire everybody and watch the stock price soar %100! LudwigPastorius Feb 27 #8

CEO jack dorsey BaronChocula Feb 27 #9

I hope this whole AI industry backfires on them ! kimbutgar Feb 27 #10

Is there any way we can use AI on the people in the nazi's administration? efhmc Feb 27 #11