Those who are cut off by AI will not disappear; they will become the creators of the next round of the economy

By: rootdata|2026/03/23 23:10:01

Author: WhiteForest
Everyone is asking the wrong question. The question is not "Will I be unemployed?" but rather: Where do the unemployed go?

AI does not replace people; it replaces those parts of people that can already be standardized, replicated, and automated.

Think about it, humans originally evolved from monkeys.

Stone tools, writing, gunpowder, steam engines, electricity, computers. Each tool revolution has devalued a batch of old skills, caused a batch of old jobs to disappear, and led to the collapse of a batch of old orders. Humanity did not disappear. Humanity reorganized.

AI follows the same pattern, but runs faster.

China experienced a larger wave of layoffs 30 years ago

Too many white-collar jobs are essentially about information handling, rule application, and localized optimization. Once the model is smart enough, these positions will definitely be repriced. This is not the end of the world; it is a clearing out.

Thirty years ago, China experienced a more intense version. State-owned enterprise reforms led to massive layoffs. At that time, it seemed like the end for tens of millions of people from that generation. Looking back, it was not people who disappeared, but old positions. The new private economy, new companies, and new jobs all emerged from that rupture. A large proportion of China's listed companies 15 years ago were actually inherited assets from state-owned enterprise reforms.

Engineers will be the first to be impacted, and will also recover first

They understand abstraction best, understand systems best, and are closest to new productivity. When engineers are laid off, it usually indicates that the part of their skills they previously sold has matured enough to be packaged and automated. This does not negate their value; it is proof of the maturity of their previous output.

However, this group of people, like the laid-off workers from state-owned enterprises 30 years ago, are precisely the smartest people of this era. Once they enter the free market, the creativity they bring is immeasurable.

But most people overlook a more important point: AI does not just cut jobs; it is rewriting the form of companies.

Most companies do not need so many talents because of problems. Rather, it is because the costs of communication, coordination, and execution are too high, so they can only keep adding people, layers, and processes.

AI is turning these organizational costs into software.

Companies will become smaller. Tasks that previously required 50 people will now be done by 5. Tasks that used to require a team can now be accomplished by a strong individual with the right tools.

The Revenge of Creators

The past game rewarded those who were good at managing large teams, coordinating hierarchies, and expanding organizations. This is why we see HR becoming C-level executives or even CEOs. Doing business is less important than managing people; many of the best creators did not lose due to judgment, product, or technology, but because they could not manage an increasingly bureaucratic organization.

AI weakens this shortcoming. In the next cycle, more small and strong companies will emerge. More people who "are not good at management but are extremely good at creation" will be repriced. They did not lose to the market in the past; they lost to the organization. After AI lightens the organization, these people can finally trade directly with the world.

The real question is not unemployment, but how you define yourself

After old positions disappear, will you be someone waiting for the system to take you in, or someone who uses new tools to reorganize production?

AI will not eliminate everyone equally. It accelerates differentiation. Some will lose their jobs, some will lose their illusions, and some will leverage this reorganization to make a leap.

My judgment:

AI is not cutting off a group of people; it is cutting off an entire generation's belief in stable career paths. Those who are laid off first will not disappear. Some of them will be the first to reorganize themselves, transforming from employees of the old system into creators of the next economic cycle.

In every productivity revolution, it is not people who are eliminated, but those who refuse to rewrite themselves.

Those who first accept reality and begin to create a new world will prevail.

-- Price

On March 16, 2026, in Dallas, Texas, USA, CanGu Company (New York Stock Exchange code: CANG, hereinafter referred to as "CanGu" or the "Company") today announced its unaudited financial performance for the fourth quarter and full year ended December 31, 2025. As a btc-42">bitcoin mining enterprise relying on a globally operated layout and dedicated to building an integrated energy and AI computing power platform, CanGu is actively advancing its business transformation and infrastructure development.

2025 Full Year and Fourth Quarter Financial and Operational Highlights

• Financial Performance:

Total revenue for the full year 2025 was $688.1 million, with $179.5 million in the fourth quarter.

Bitcoin mining business revenue for the full year was $675.5 million, with $172.4 million in the fourth quarter.

Full-year adjusted EBITDA was $24.5 million, while the fourth quarter was -$156.3 million.

• Mining Operations and Costs:

A total of 6,594.6 bitcoins were mined throughout the year, averaging 18.07 bitcoins per day; of which 1,718.3 bitcoins were mined in the fourth quarter, averaging 18.68 bitcoins per day.

The average mining cost for the full year (excluding miner depreciation) was $79,707 per bitcoin, and for the fourth quarter, it was $84,552;

The all-in sustaining costs were $97,272 and $106,251 per bitcoin, respectively.

As of the end of December 2025, the company has cumulatively produced 7,528.4 bitcoins since entering the bitcoin mining business.

• Strategic Progress:

The company has completed the termination of the American Depositary Receipt (ADR) program and transitioned to a direct listing on the NYSE to enhance information transparency and align with its strategic direction, with a long-term goal of expanding its investor base.

CEO Paul Yu stated: "2025 marked the company's first full year as a bitcoin mining enterprise, characterized by rapid execution and structural reshaping. We completed a comprehensive adjustment of our asset system and established a globally distributed mining network. Additionally, the company introduced a new management team, further strengthening our capabilities and competitive advantage in the digital asset and energy infrastructure space. The completion of the NYSE direct listing and USD pricing also signifies our transformation into a global AI infrastructure company."

"As we enter 2026, the company will continue to optimize its balance sheet structure and enhance operational efficiency and cost resilience through adjustments to the miner portfolio. At the same time, we are advancing our strategic transformation into an AI infrastructure provider. Leveraging EcoHash, we will utilize our capabilities in scalable computing power and energy networks to provide cost-effective AI inference solutions. The relevant site transformations and product development are progressing simultaneously, and the company is well-positioned to sustain its execution in the new phase."

The company's Chief Financial Officer, Michael Zhang, stated: "By 2025, the company is expected to achieve significant revenue growth through its scaled mining operations. Despite recording a net loss of $452.8 million from ongoing operations, mainly due to one-time transformation costs and market-driven fair value adjustments, the company, from a financial perspective, will reduce its leverage, optimize its Bitcoin reserve strategy and liquidity management, introduce new capital to strengthen its financial position, and seize investment opportunities in high-potential areas such as AI infrastructure while navigating market volatility."

Fourth Quarter 2025 Ongoing Operations Financial Performance

Revenue

The total revenue for the fourth quarter was $1.795 billion. Of this, the Bitcoin mining business contributed $1.724 billion in revenue, generating 1,718.3 Bitcoins during the quarter. Revenue from the international automobile trading business was $4.8 million.

Operating Costs and Expenses

The total operating costs and expenses for the fourth quarter amounted to $4.56 billion, primarily attributed to expenses related to the Bitcoin mining business, as well as impairment of mining machines and fair value losses on Bitcoin collateral receivables.

This includes:

· Cost of Revenue (excluding depreciation): $1.553 billion

· Cost of Revenue (depreciation): $38.1 million

· Operating Expenses: $9.9 million (including related-party expenses of $1.1 million)

· Mining Machine Impairment Loss: $81.4 million

· Fair Value Loss on Bitcoin Collateral Receivables: $171.4 million

Profit Situation

The operating loss for the fourth quarter was $276.6 million, a significant increase from a loss of $0.7 million in the same period of 2024, primarily due to the downward trend in Bitcoin prices.

The net loss from ongoing operations was $285 million, compared to a net profit of $2.4 million in the same period last year.

The adjusted EBITDA was -$156.3 million, compared to $2.4 million in the same period last year.

Full Year 2025 Ongoing Operations Financial Performance

Revenue

The total revenue for the full year was $6.881 billion. Of this, the revenue from the Bitcoin mining business was $6.755 billion, with a total output of 6,594.6 Bitcoins for the year. Revenue from the international automobile trading business was $9.8 million.

Operating Costs and Expenses

The total annual operating costs and expenses amount to $1.1 billion.

Specifically, they include:

· Revenue Cost (excluding depreciation): $543.3 million

· Revenue Cost (depreciation): $116.6 million

· Operating Expenses: $28.9 million (including related-party expenses of $1.1 million)

· Miner Impairment Loss: $338.3 million

· Bitcoin Collateral Receivable Fair Value Change Loss: $96.5 million

Profitability

The full-year operating loss is $437.1 million. The continuing operations net loss is $452.8 million, while in 2024, there was a net profit of $4.8 million.

The 2025 non-GAAP adjusted net profit is $24.5 million (compared to $5.7 million in 2024). This measure does not include share-based compensation expenses; refer to "Use of Non-GAAP Financial Measures" for details.

Financial Position

As of December 31, 2025, the company's key assets and liabilities are as follows:

· Cash and Cash Equivalents: $41.2 million

· Bitcoin Collateral Receivable (Non-current, related party): $663.0 million

· Miner Net Value: $248.7 million

· Long-Term Debt (related party): $557.6 million

In February 2026, the company sold 4,451 bitcoins and repaid a portion of related-party long-term debt to reduce financial leverage and optimize the asset-liability structure.

Stock Repurchase

As per the stock repurchase plan disclosed on March 13, 2025, as of December 31, 2025, the company had repurchased a total of 890,155 shares of Class A common stock for approximately $1.2 million.

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