BLOCK(US:SQ) Sou Hu Cai Jing·2026-02-27 05:46Core Argument - The article warns of an impending "2028 Global Intelligence Crisis," suggesting that the success of AI may lead to economic disaster rather than prosperity [2][27]. Group 1: AI and Economic Impact - The rise of AI is leading to a "smart deflation" era, where companies cut high-salaried jobs to save costs, pushing displaced workers into low-wage gig markets, resulting in a significant overall income reduction [2][12]. - As income declines, consumer spending will shrink, potentially leading to a financial system collapse, where an abundance of goods cannot be sold because people cannot afford to buy them [2][12]. Group 2: Company Actions - Jack, co-founder of Block, announced a 40% workforce reduction, cutting the company from over 10,000 employees to fewer than 6,000, despite the business being profitable and growing [3][4]. - The decision to lay off 4,000 employees was framed as a necessary response to the changing landscape brought about by AI, which allows for more efficient operations with fewer staff [4][10]. Group 3: Future Employment Landscape - The article suggests that the success of AI does not equate to economic success for workers, as even profitable companies may still lay off employees due to increased efficiency [11][12]. - The transition of high-skilled workers into the gig economy could lead to a decrease in average wages, affecting overall consumer spending power [23]. Group 4: The 2028 Global Intelligence Crisis - The article presents a model where AI leads to the replacement of human income, resulting in a collapse of consumer spending, contrasting with previous technological revolutions that created new jobs [13][14]. - It introduces the concept of "Intelligence Displacement Spiral," where increased productivity from AI does not translate into increased income for workers, leading to a disconnect between production and consumption [15][26]. Group 5: Financial System Implications - The article predicts a potential "prime loan crisis" in 2028, where the financial system may face challenges due to the loss of income among previously high-earning individuals [20][26]. - The shift in income distribution, where profits from AI accrue to a small number of owners rather than workers, could lead to a situation where economic growth does not benefit the broader population [15][26].