I don't think this is an AI problem. Even before AI, FANGA companies famously optimize promotions on perceived impact.

During the promo review, people will look how many projects were done and the impact of those projects.

Acquisition rate, retention rate, revenue, profit margin?

By those metrics, Microsoft lost 20% of it's value due to hopping on the AI coding assistance train.

I'm not saying it is the case, just making it apparent how unreliable it is to measure productivity by comparing what's happening at the lowest level in a company to its financials.

Microsoft is mostly a SaaS company. Many SaaS businesses have lost much more in market cap since due to AI disruption.

Imagine if Microsoft didn't invest in AI? Maybe they'd be down 50% now.