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AI boom could falter without wider adoption, Microsoft chief Satya Nadella warns (www.irishtimes.com)
submitted 9 months ago by to c/technology@lemmy.world
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Big tech boss tells delegates at Davos that broader global use is essential if technology is to deliver lasting growth

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[–] 37 points 9 months ago (10 children)

Man, I cannot wait for the comedy movies that come out based on this farce, explaining exactly how these jokers lost all their money.

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  • [–] 8 points 9 months ago (2 children)

    The best comedies will be made by them... like the NFT cartoon that was made using the bored ape pictures that was so bad that even the biggest advocates of NFTs had no idea what the hell they were doing.

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  • [–] 5 points 9 months ago (5 children)

    Unless someone bails them out.

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  • [–] 7 points 9 months ago (4 children)

    Who's going to do that? Everyone with any money is already leveraged up to the eyeballs in this shit.

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  • [–] 13 points 9 months ago (2 children)

    So you're saying they're too big to fail?

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  • [–] 5 points 9 months ago (1 child)

    Oh, we'll see about that.

    The key difference between tech giants and the banks, is the tech giants aren't holding everyone's money hostage.

    Sure, those gen Z kids will lose all their photos of grandma because they couldn't fathom a world without Instagram, but we'll cope.

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  • [–] 4 points 9 months ago

    No, but when the AI bubble bursts it will wipe out between roughly 40% and 60% of the value of the US’s stock market, depending on which estimate you go by. For comparison, the initial crash of 1929 saw the stock market losing around a third of its value.

    So either the government does bail them out, or it’ll be worse than that crash was.

    Neither option is good for the little people

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