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Everyday AI looks more like the '08 housing bubble (lemmy.ca)
submitted 1 year ago by to c/technology@lemmy.world
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[–] 83 points 1 year ago (3 children)

Specially when those companies are valued in TRILLIONS. Nothing is worth trillions, somehow these surreal numbers have been accepted as hard fact.

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  • [–] 69 points 1 year ago* (1 child)

    Nothing is worth trillions,

    There is things worth trillions. Like full countries, and the largest pension funds and social security funds. Having a single company be comparable to those massive collections of people is insane, and it's because they think it can replace workers--when it can't, not yet, and not for a long time

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  • [–] 0 points 1 year ago

    Production must equal Consumption plus investment.

    An excess of production leads to companies closing down.

    Reducing consumption (via getting rid of workers, reducing wages, etc.) will lead to an imbalance that must correct itself.

    This can be forestalled by private debt, government debt or exporting the surplus but this is unsustainable.

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  • [–] 27 points 1 year ago

    Evaluations of everything is crazy. Net worth of celebrities with make up lines in particular is crazy. Look how many celebs are worth a billion dollars. To be worth that much, they should be selling at least $50 millions a year of product with no prediction of winding down.

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