As a founder, I think that this viewpoint misses the reality of a fixed budget. If I can make my team of 8 as productive as 10 with LLMs then I will. But that doesn’t mean that without LLMs I could afford to hire 2 more engineers. And in fact if LLMs make my startup successful then it could create more jobs in the future.
I believe that it’s because people are not investing in bitcoin because it’s a viable cryptocurrency (unlike Ethereum and some others) but that’s it’s a scarce commodity (like gold) that adds diversification to an investment portfolio.
This makes me think that it at least as much to do with high (unrealistic?) employee expectations as business stinginess.