Coinbase, another company linked to AI, has announced it will lay off about 700 workers and reorganize around "AI-native" pods and talent. This follows a trend of companies blaming AI for job cuts, but evidence suggests a mix of automation, cost-cutting and market pressure. Goldman Sachs economist Joseph Briggs believes that AI will create new jobs in the long term, despite seeing a near-term impact on unemployment. Some argue that the AI-layoff narrative gives employers leverage over workers, potentially leading to lower wages. However, Briggs acknowledges that AI could increase unemployment in the short-term if the AI transition occurs quickly.