‘You just hired a million bad employees’: How the brief tokenmaxxing era delivered the opposite of what it promised

George Sivulka, the 27-year-old Stanford grad who founded and runs the AI enterprise startup Hebbia, has put his finger on the defining anxiety of the AI agent era: companies raced to deploy AI workforces without building any of the management infrastructure to run them. Recommended Video Hebbia already serves clients including BlackRock, KKR, and the U.S. Air Force, giving Sivulka a front-row seat to how badly this is going inside real enterprises. His essay, published on a16z’s newsletter, argues that AI didn’t cut labor costs—it inverted the equation entirely: “for the first time in history, humans are cheaper than software.” And for all those CEOs who rushed headfirst into the agent era briefly known as “tokenmaxxing,” he offered a warning: “you just hired a million bad employees.”…

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