Part 5/10:
Despite layoffs, Eli points out that IBM reported stronger-than-expected earnings on October 22nd, driven by a 10% revenue increase in its software division. This pattern—cutting staff while posting record profits—underscores a paradox prevalent among tech giants today: profitability is rising even as employment shrinks. Eli criticizes the myth of the visionary rebel tech company, asserting that many firms are merely following industry trends to stay afloat rather than innovating genuinely.