“We regularly assess our locations, products and services to ensure we can continue driving sustainable growth and innovation across our business,” a spokesperson for Reyes Coca-Cola Bottling told SFGate. A spokesperson for Reyes Coca-Cola Bottling didn't immediately respond to a request for comment.
At least 125 employees, which is more than 20% of the company's workforce, were let go as Underdog shifts away from some of its traditional offerings and leans more heavily into prediction markets. Teams in fraud operations, marketing, customer support, and product were among those affected.
The firm's Chief Operating Officer Marshall Beard, Chief Financial Officer Dan Chen and Chief Legal Officer Tyler Meade are all leaving the company effective immediately, New York-based Gemini said in a filing on Tuesday. Beard, who has also stepped down from Gemini's board of directors, has not resigned as a result of any disagreement with the firm, it added. Gemini does not intend to appoint a successor to Beard at this time, it said. Instead, President Cameron Winklevoss will assume several of his duties.
Sure, AI makes a convenient cover for business executives who were already looking to downsize or outsource their labor force, but the tech's myriad hallucination issues, legal risks, and security baggage make it ill-suited to automate human jobs. That's to say nothing of the fact that 95 percent of businesses gunning for an AI overhaul see their efforts end in failure.