Swedish buy-now-pay-later company Klarna, whose CEO once bragged about its automated customer service AI bots doing the work of “700 full-time agents,” is now in deep trouble. The fintech outfit is facing net losses of $99 million for the first quarter of this year, CNBC reports, which is more than double compared to the same period last year.
The company had already paused its highly anticipated IPO in the US last month, which once valued it at over $15 billion. And it’s all particularly noteworthy because of how CEO Sebastian Siemiatkowski previously bragged that he hadn’t hired anyone in a year, following a doubling down on AI tech.
For sure.
I do like to point out when they’re grossly negligent at being evil, by criticizing anything they do that they think is smart, that actually shows incompetence in maximizing shareholder or company value.
You’re supposed to make more money for your company through your decision making, not less.
Therefore, he should be punished from every direction.