logo
Software company lays off 150 employees to replace them with AI months after company CEO defended buying private jet for himself

Software company lays off 150 employees to replace them with AI months after company CEO defended buying private jet for himself

Time of Indiaa day ago
Representative Image
Jira
software maker
Atlassian
has laid off 150 employees, a report claims. The affected roles in the Australian tech company are reportedly being replaced by new artificial intelligence (AI) technology. The latest round of job cuts comes months after Atlassian's billionaire CEO and co-founder, Mike Cannon-Brookes, defended his purchase of a private jet. In March, Cannon-Brookes took to professional networking site LinkedIn to defend his decision to acquire a Bombardier 7500, an aircraft which is believed to cost over US$75 million, stating that this purchase would allow him to be a "present dad." The latest layoffs were also reportedly defended by Atlassian's other co-founder and former CEO Scott Farquhar.
How Atlassian CEO informed its employees about the layoffs
According to a report by SkyNews Australia, Atlassian employees who were impacted in this round of job cuts were informed of the job cuts via a pre-recorded video message from Cannon-Brookes. In the video, seen by the publication, the CEO spoke from a home office in a faded green hoodie.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
AirSense 11 – Smart tech for deep sleep
ResMed
Buy Now
Undo
However, the Cannon-Brookes did not name the affected individuals, who reportedly had to wait 15 minutes for an email confirming their status. Impacted staff had their laptops blocked, but are expected to receive payment for the next six months, the report noted.
Meanwhile, Farquhar, Atlassian's other cofounder, has also reportedly defended the layoffs, saying that Australia's copyright laws should be updated to allow AI companies unrestricted access to mine data.
In a statement to the Sydney Morning Herald, Farquhar said: '
If we make call centre staff more productive, people aren't going to call more [and] we'll probably need less call centre staff. Some parts of our economy will grow significantly as AI makes them more productive, and some parts of our economy will shrink as we do that.'
Earlier this year, Atlassian faced criticism for Cannon-Brookes buying a personal jet for upwards of $75 million despite his support for climate action and promotion of solar power. He has reportedly been investing heavily in eco-friendly projects, including a solar power cable from Darwin to Singapore.
In a post shared on LinkedIn, Cannon-Brookes wrote:
'There are a couple of reasons I've purchased a plane. Personal security is the primary reason (an unfortunate reality of my world), but also so I can run a global business from Australia, and still be a constantly present dad.'
5 Tips to Get the Best Deals during sale on Amazon, Flipkart and other online websites
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Diamond trade feels tariff pinch: Indian exports might face 20–25% slump; margin hit may spread to miners, retailers, says Crisil analysis
Diamond trade feels tariff pinch: Indian exports might face 20–25% slump; margin hit may spread to miners, retailers, says Crisil analysis

Time of India

time36 minutes ago

  • Time of India

Diamond trade feels tariff pinch: Indian exports might face 20–25% slump; margin hit may spread to miners, retailers, says Crisil analysis

AI-generated image The US market, which accounts for 35 per cent of Indian natural polished diamond exports in fiscal 2025, is expected to face additional challenges following recent US tariffs and penalties, according to Crisil Ratings. A slowdown in natural diamond demand has already been observed in the US market, officials noted. "Added to this, reduced offtake by retailers post announcement of 10 per cent tariff on Indian exports in April 2025, brought down the share of the US in polished diamond exports to 24 per cent in the first quarter of this fiscal from 37 per cent for the same period last fiscal," said Rahul Guha, Senior Director at Crisil Ratings, quoted by ANI. "In the milieu, the revenue of Indian diamond polishers can decrease a further 20-25 per cent this fiscal to USD 10-11 billion," Guha added. Meanwhile, Himank Sharma, Director, Crisil Ratings, said, "Natural diamond polishers, traditionally operating at thin margins of 4-5 per cent, will have limited ability to absorb the tariff-induced price rise. As a result, miners and retailers may need to step in to absorb some of the price shocks." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Learn More - How Affiliate Marketing Can Boost Your Income TheDaddest Undo During fiscal 2025, natural diamond export volumes remained restricted due to decreased Chinese demand and US competition from LGD. Despite fourth-quarter sales efforts to avoid tariffs and limited price reductions, natural diamond export revenues declined by 17 per cent to USD 13.3 billion. As the world's leading diamond exporter and primary gold consumer, India holds significant influence in the global market. The US announcement on July 30 by Trump of a 25 per cent tariff on India, along with additional penalties for Russian oil purchases, has caused significant worry amongst Indian Gems and Jewellery sector stakeholders, who anticipate immediate market disruptions, workforce reductions and increased costs for US consumers. Nevertheless, industry leaders remain optimistic, citing India's diversified trade relationships through recent FTAs with the UK, Australia, and the UAE as protective measures, suggesting the US might experience greater long-term consequences than India. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025

'India not needed...': Finfluencer Akshat Shrivastava shares why the next 10 years will be tough for Indian stock markets
'India not needed...': Finfluencer Akshat Shrivastava shares why the next 10 years will be tough for Indian stock markets

Economic Times

timean hour ago

  • Economic Times

'India not needed...': Finfluencer Akshat Shrivastava shares why the next 10 years will be tough for Indian stock markets

Synopsis Akshat Shrivastava warns that Indian stock markets may face challenges due to India's limited role in the global AI race. He argues that India lacks the advantages of cost-effectiveness or a premium consumer base, hindering its participation in the AI-driven economic transformation. This innovation gap, according to Shrivastava, will negatively impact India's relative economic standing and stock market performance. Agencies Indian markets Finance educator and content creator Akshat Shrivastava has said that Indian stock markets could face a challenging next decade, arguing that India does not have a meaningful role in the global artificial intelligence (AI) race. Shrivastava linked India's future economic and market performance to its relative position in global technological began by stating that economies are shaped by innovation cycles. From Dutch shipbuilding and the UK's Industrial Revolution to US-led factory automation, he said each major economic shift has been led by disruptive technology. 'Wealth does not appear out of thin air. It is systematically build on the back of technological innovation,' he to him, AI is now becoming that next core innovation shaping the global economy—comparable to the internet boom of the late 1990s. AI is driving transformations in energy, manufacturing, learning, and computing, he said, adding that with tools like large language models (LLMs), 'anyone can technically reap the benefits of coding, without being a coder.'Explaining the global innovation structure, Shrivastava referenced the 'hub and spoke' model, where a few countries act as innovation hubs while others operate as peripheral beneficiaries. In the past, India benefited from this structure by becoming a spoke in the US-led IT outsourcing boom. — Akshat_World (@Akshat_World) However, Shrivastava suggested India is missing out in the current wave. 'China and US: are in a AI race. China has already built massive energy reserves (US is catching up). US has already built massive tech reserves (and one could argue China is catching up). This is the new arms race,' he wrote. Shrivastava raised a direct question: 'Why is India needed in this AI race?' He dismissed three possible advantages—data harvesting, cost-effective infrastructure, and a large consumer market—as either already exhausted or ineffective in India's case.'Can we lower the cost for AI infrastructure? (we have very high cost of energy and poor leakages in infra; so we can't). We can't build giga-factories. This is the reason why our manufacturing sucks,' he wrote. On the demand side, he pointed out that 'getting users to pay 20$/month is a challenge for LLMs right now.'According to Shrivastava, India lacks both a cost advantage like China and a premium-paying consumer base like the US. 'So where does India fit in the AI race?' he asked, answering that the country may see isolated economic success stories but will fall behind in global comparison.'Now of course: as the world becomes more productive. India will benefit too. That's obvious. Standard of living will improve. But, 'compared' to other countries, it will fall,' he said. He blamed 'decades of regressive economic policies, unnecessary pride and inability to look at things rationally' for the current concluded that this innovation gap will reflect in the markets. 'All this will reflect into the stock market. There is a reason why since 2020: FIIs have been consistently existing our markets,' he said, referring to foreign institutional investors reducing their positions in India. (Disclaimer: This article is based on a user-generated post on X for informational purposes. has not independently verified the claims made in the post and does not vouch for their accuracy. The views expressed are those of the individual and do not necessarily reflect the views of Reader discretion is advised.)

"ChatGPT is not a diary, therapist, lawyer, or friend": LinkedIn user warns against oversharing everything with AI
"ChatGPT is not a diary, therapist, lawyer, or friend": LinkedIn user warns against oversharing everything with AI

Economic Times

timean hour ago

  • Economic Times

"ChatGPT is not a diary, therapist, lawyer, or friend": LinkedIn user warns against oversharing everything with AI

ChatGPT users are being warned to think twice before typing anything personal into the chatbot. OpenAI CEO Sam Altman recently confirmed that interactions with ChatGPT aren't protected by confidentiality laws. Conversations you assume are private may be stored, reviewed, and even presented in court — no matter how sensitive, emotional or casual they seem.'If you go talk to ChatGPT about your most sensitive stuff and then there's like a lawsuit or whatever, we could be required to produce that, and I think that's very screwed up,' Altman said in an interview on the This Past Weekend podcast. He added, 'We should have, like, the same concept of privacy for your conversations with AI that we do with a therapist or whatever.'But as of now, that legal framework doesn't explained, 'Right now, if you talk to a therapist or a lawyer or a doctor about those problems, there's legal privilege for it. There's confidentiality. We haven't figured that out yet for ChatGPT.'This sharp warning is echoed by Shreya Jaiswal, a Chartered Accountant and founder of Fawkes Solutions, who posted her concerns on LinkedIn. Her message was blunt and alarming. 'ChatGPT can land you in jail. No, seriously. Not even joking,' she to Jaiswal, Altman's own words spell out the legal dangers. 'Sam Altman – the CEO of OpenAI, literally said that anything you type into ChatGPT can be used as evidence in court. Not just now, even months or years later, if needed. There's no privacy, no protection, nothing, unlike talking to a real lawyer or therapist who is sworn to client confidentiality.'She laid out a few scenarios that, while hypothetical, are disturbingly someone types: 'I cheated on my partner and I feel guilty, is it me or the stars that are misaligned?' Jaiswal pointed out how this could resurface in a family court battle. 'Boom. You're in court 2 years later fighting an alimony or custody battle. That chat shows up. And your 'private guilt trip' just became public proof.' Even seemingly harmless curiosity can be risky. 'How do I save taxes using all the loopholes in the Income Tax Act?' or 'How can I use bank loans to become rich like Vijay Mallya?' could be interpreted as intent during a future audit or legal probe. 'During a tax audit or loan default, this could easily be used as evidence of intent even if you never actually did anything wrong,' she warned. In another example, she highlighted workplace risk. 'I'm thinking of quitting and starting my own company. How can I use my current company to learn for my startup?' This, she argued, could be used against you in a lawsuit for breach of contract or intellectual property theft. 'You don't even need to have done anything. The fact that you thought about it is enough.'Jaiswal expressed concern that people have become too casual, even intimate, with AI tools. 'We've all gotten way too comfortable with AI. People are treating ChatGPT like a diary. Like a best friend. Like a therapist. Like a co-founder.''But it's none of those. It's not on your side, it's not protecting you. And legally, it doesn't owe you anything.'She closed her post with a simple piece of advice: 'Let me make this simple – if you wouldn't say it in front of a judge, don't type it into ChatGPT.'And her final thought was one that many might relate to: 'I'm honestly scared. Not because I have used ChatGPT for something I shouldn't have. But because we've moved too fast, and asked too few questions, and continue to do so in the world of AI.'These concerns aren't just theory. In a 2024 bankruptcy case in the United States, a lawyer submitted a legal brief that cited fake court cases generated by ChatGPT. The judge imposed a fine of $5,500 and ordered the lawyer to attend an AI ethics session. — slow_developer (@slow_developer) Similar disciplinary actions were taken against lawyers in Utah and Alabama who relied on fabricated AI-generated incidents have underscored a critical truth: AI cannot replace verified legal research or professional advice. It can mislead, misrepresent, or completely fabricate information — what researchers call "AI hallucinations".Altman also flagged a worrying trend among younger users. Speaking at a Federal Reserve conference, he said, 'There are young people who say, 'I can't make any decision in my life without telling ChatGPT everything that's going on. It knows me. I'm going to do whatever it says.' That feels really bad to me.'He's concerned that blind faith in AI could be eroding people's ability to think critically. While ChatGPT is programmed to provide helpful answers, Altman stressed it lacks context, responsibility, and real emotional advice is straightforward, and it applies to everyone: Don't use ChatGPT to confess anything sensitive, illegal or personal Never treat it as a lawyer, therapist, or financial advisor Verify any factual claims independently Use AI to brainstorm, not to confess And most importantly, don't say anything to a chatbot that you wouldn't be comfortable seeing in court While OpenAI claims that user chats are reviewed for safety and model training, Altman admitted that conversations may be retained if required by law. Even if you delete a conversation, legal demands can override those actions. With ongoing lawsuits, including one from The New York Times, OpenAI may soon have to store conversations indefinitely. For those looking for more privacy, Altman suggested considering open-source models that can run offline, like GPT4All by Nomic AI or Ollama. But he stressed that what's needed most is a clear legal framework.'I think we will certainly need a legal or a policy framework for AI,' he then, treat your chats with caution. Because what you type could follow you — even years later.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store