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VCs are starting to partner with private equity to buy up call centers, accounting firms and other "mature companies" to replace their operations with AI (techcrunch.com)
submitted 1 year ago by to c/technology@lemmy.world
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[–] 29 points 1 year ago (1 child)

If you thought your service was bad now, it’s gonna get worse.

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  • [–] 10 points 1 year ago (1 child)

    Isn't that what we call "Innovation" in our capitalist society?

    You build a thing. Pour your blood sweat and tears into it. Some VC goon buys it during a downturn. They fire most of the staff. Strip the copper out of the walls. Make the service shittier and shittier until all that is left is its faltering brand recognition then sell it all for a bundle to the very next sucker they can?

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  • [–] 6 points 1 year ago (1 child)

    Innovation is enshittification these days. It used to be invention, where entirely new products and materials came about. Then there was innovation, incremental improvement coupled with price hikes. Now “innovation” seems strictly rearranging deck chairs with worse service, and reducing employee count for increased profits.

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  • [–] 3 points 1 year ago (1 child)

    In the 90s it was "selling it for parts" where the market value of the whole company was lower than the component parts, so buy it on the open market for a bargain, then slice and dice and profit.

    These days, they're squeezing the lemons for all they can get.

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