Block is a poster child for the lack of operational discipline common among mid-tier public tech companies that lived on the largesse of cloud, mobile, and ZIRP
Jack Dorsey, CEO of Block (the company formerly known as Square), went on X (the company formerly known as Twitter …
“Silicon Valley companies are poorly run.” it's this simple. The tech layoffs aren't about AI. tech companies gorged on ZIRP-era hiring and at some point reality was going to show up and tap its watch [embedded post]
I'd go on to point out that lines of code is well known to be a terrible software engineering productivity metric, but I think all this is just an excuse for layoffs the CEO wanted to do anyway. Om Malik has a good recent piece on that: — om.co/2026/02/28/b...