▲ 903 ▼ AI Bubble Teetering on the Brink as OpenAI Admits to Massive Financial Failure: A $20 billion setback. (futurism.com) submitted 1 month ago by eicker@lemmy.world to c/technology@lemmy.world 346 comments fedilink hide all child comments
[+] badgermurphy@lemmy.world 3 points 1 month ago* (last edited 1 month ago) (4 children) [deleted] permalink fedilink source parent hideshow 4 child comments replies: [–] leftzero@lemmy.dbzer0.com 3 points 1 month ago* (last edited 1 month ago) (2 children) They can and they will. If you're in the USA you'd better be getting ready to burn stacks of hundred trillion dollar notes to stay warm. permalink fedilink source parent hideshow 2 child comments replies: [+] badgermurphy@lemmy.world 0 points 1 month ago (2 children) [deleted] permalink fedilink source parent hideshow 2 child comments replies: [–] leftzero@lemmy.dbzer0.com 0 points 1 month ago* (1 child) We'll have massive recessions, sure. Worse than the last couple ones. Inflation above 10%. But not hyperinflation like in the USA. We'll have to bail out the banks that fell for the scam, but not the scammers themselves. And it might be a good opportunity to finish decoupling from the USA economy, companies, and policies. It might take a decade or a decade and a half, but we will recover. The USA on the other hand will suffer the full brunt of the crash, while being already economically, diplomatically, socially, politically, and morally bankrupt, and infected with the most actively incompetent and outright malicious government in its history, a government whose priorities won't be to save the country but to exploit the situation, or to take the money and run if that proves impossible. It would almost certainly have been doomed anyway, but this will be the last nail in the coffin and precipitate the collapse. permalink fedilink source parent hideshow 1 child comment replies: [+] badgermurphy@lemmy.world 1 point 1 month ago (1 child) [deleted] permalink fedilink source parent hideshow 1 child comment replies: [–] leftzero@lemmy.dbzer0.com 1 point 1 month ago No, don't get me wrong, the domino effect will be there, we will suffer decade long depressions. It's just that a) the order of magnitude of the bailouts will be much larger for the USA (because they'll have to bail out the AI companies' billions of debt, and because the grifters in power will grift as much as possible), and b) any existing international trust in the USA has already been destroyed by Trump's antics, so the rest of the world has been decoupling as fast as possible for the last few years, and will keep on doing so, which will mitigate the impact. In a sense the American domino has already been leaning and putting pressure on its neighbours, so they have had time to brace themselves and start inching away from it, and the impact on them when it falls will be lowered due to the fact that it's already leaning down, but it itself will still shatter due to the fractures and rot that pervade it. permalink fedilink source parent load more comments (-1 replies) load more comments (-1 replies) [–] MagnificentSteiner@lemmy.zip 1 point 1 month ago* (last edited 1 month ago) Most money isn't printed anymore. It's digital and is created by banks when they lend it. permalink fedilink source parent
[–] leftzero@lemmy.dbzer0.com 3 points 1 month ago* (last edited 1 month ago) (2 children) They can and they will. If you're in the USA you'd better be getting ready to burn stacks of hundred trillion dollar notes to stay warm. permalink fedilink source parent hideshow 2 child comments replies: [+] badgermurphy@lemmy.world 0 points 1 month ago (2 children) [deleted] permalink fedilink source parent hideshow 2 child comments replies: [–] leftzero@lemmy.dbzer0.com 0 points 1 month ago* (1 child) We'll have massive recessions, sure. Worse than the last couple ones. Inflation above 10%. But not hyperinflation like in the USA. We'll have to bail out the banks that fell for the scam, but not the scammers themselves. And it might be a good opportunity to finish decoupling from the USA economy, companies, and policies. It might take a decade or a decade and a half, but we will recover. The USA on the other hand will suffer the full brunt of the crash, while being already economically, diplomatically, socially, politically, and morally bankrupt, and infected with the most actively incompetent and outright malicious government in its history, a government whose priorities won't be to save the country but to exploit the situation, or to take the money and run if that proves impossible. It would almost certainly have been doomed anyway, but this will be the last nail in the coffin and precipitate the collapse. permalink fedilink source parent hideshow 1 child comment replies: [+] badgermurphy@lemmy.world 1 point 1 month ago (1 child) [deleted] permalink fedilink source parent hideshow 1 child comment replies: [–] leftzero@lemmy.dbzer0.com 1 point 1 month ago No, don't get me wrong, the domino effect will be there, we will suffer decade long depressions. It's just that a) the order of magnitude of the bailouts will be much larger for the USA (because they'll have to bail out the AI companies' billions of debt, and because the grifters in power will grift as much as possible), and b) any existing international trust in the USA has already been destroyed by Trump's antics, so the rest of the world has been decoupling as fast as possible for the last few years, and will keep on doing so, which will mitigate the impact. In a sense the American domino has already been leaning and putting pressure on its neighbours, so they have had time to brace themselves and start inching away from it, and the impact on them when it falls will be lowered due to the fact that it's already leaning down, but it itself will still shatter due to the fractures and rot that pervade it. permalink fedilink source parent load more comments (-1 replies) load more comments (-1 replies)
[+] badgermurphy@lemmy.world 0 points 1 month ago (2 children) [deleted] permalink fedilink source parent hideshow 2 child comments replies: [–] leftzero@lemmy.dbzer0.com 0 points 1 month ago* (1 child) We'll have massive recessions, sure. Worse than the last couple ones. Inflation above 10%. But not hyperinflation like in the USA. We'll have to bail out the banks that fell for the scam, but not the scammers themselves. And it might be a good opportunity to finish decoupling from the USA economy, companies, and policies. It might take a decade or a decade and a half, but we will recover. The USA on the other hand will suffer the full brunt of the crash, while being already economically, diplomatically, socially, politically, and morally bankrupt, and infected with the most actively incompetent and outright malicious government in its history, a government whose priorities won't be to save the country but to exploit the situation, or to take the money and run if that proves impossible. It would almost certainly have been doomed anyway, but this will be the last nail in the coffin and precipitate the collapse. permalink fedilink source parent hideshow 1 child comment replies: [+] badgermurphy@lemmy.world 1 point 1 month ago (1 child) [deleted] permalink fedilink source parent hideshow 1 child comment replies: [–] leftzero@lemmy.dbzer0.com 1 point 1 month ago No, don't get me wrong, the domino effect will be there, we will suffer decade long depressions. It's just that a) the order of magnitude of the bailouts will be much larger for the USA (because they'll have to bail out the AI companies' billions of debt, and because the grifters in power will grift as much as possible), and b) any existing international trust in the USA has already been destroyed by Trump's antics, so the rest of the world has been decoupling as fast as possible for the last few years, and will keep on doing so, which will mitigate the impact. In a sense the American domino has already been leaning and putting pressure on its neighbours, so they have had time to brace themselves and start inching away from it, and the impact on them when it falls will be lowered due to the fact that it's already leaning down, but it itself will still shatter due to the fractures and rot that pervade it. permalink fedilink source parent load more comments (-1 replies)
[–] leftzero@lemmy.dbzer0.com 0 points 1 month ago* (1 child) We'll have massive recessions, sure. Worse than the last couple ones. Inflation above 10%. But not hyperinflation like in the USA. We'll have to bail out the banks that fell for the scam, but not the scammers themselves. And it might be a good opportunity to finish decoupling from the USA economy, companies, and policies. It might take a decade or a decade and a half, but we will recover. The USA on the other hand will suffer the full brunt of the crash, while being already economically, diplomatically, socially, politically, and morally bankrupt, and infected with the most actively incompetent and outright malicious government in its history, a government whose priorities won't be to save the country but to exploit the situation, or to take the money and run if that proves impossible. It would almost certainly have been doomed anyway, but this will be the last nail in the coffin and precipitate the collapse. permalink fedilink source parent hideshow 1 child comment replies: [+] badgermurphy@lemmy.world 1 point 1 month ago (1 child) [deleted] permalink fedilink source parent hideshow 1 child comment replies: [–] leftzero@lemmy.dbzer0.com 1 point 1 month ago No, don't get me wrong, the domino effect will be there, we will suffer decade long depressions. It's just that a) the order of magnitude of the bailouts will be much larger for the USA (because they'll have to bail out the AI companies' billions of debt, and because the grifters in power will grift as much as possible), and b) any existing international trust in the USA has already been destroyed by Trump's antics, so the rest of the world has been decoupling as fast as possible for the last few years, and will keep on doing so, which will mitigate the impact. In a sense the American domino has already been leaning and putting pressure on its neighbours, so they have had time to brace themselves and start inching away from it, and the impact on them when it falls will be lowered due to the fact that it's already leaning down, but it itself will still shatter due to the fractures and rot that pervade it. permalink fedilink source parent load more comments (-1 replies)
[+] badgermurphy@lemmy.world 1 point 1 month ago (1 child) [deleted] permalink fedilink source parent hideshow 1 child comment replies: [–] leftzero@lemmy.dbzer0.com 1 point 1 month ago No, don't get me wrong, the domino effect will be there, we will suffer decade long depressions. It's just that a) the order of magnitude of the bailouts will be much larger for the USA (because they'll have to bail out the AI companies' billions of debt, and because the grifters in power will grift as much as possible), and b) any existing international trust in the USA has already been destroyed by Trump's antics, so the rest of the world has been decoupling as fast as possible for the last few years, and will keep on doing so, which will mitigate the impact. In a sense the American domino has already been leaning and putting pressure on its neighbours, so they have had time to brace themselves and start inching away from it, and the impact on them when it falls will be lowered due to the fact that it's already leaning down, but it itself will still shatter due to the fractures and rot that pervade it. permalink fedilink source parent
[–] leftzero@lemmy.dbzer0.com 1 point 1 month ago No, don't get me wrong, the domino effect will be there, we will suffer decade long depressions. It's just that a) the order of magnitude of the bailouts will be much larger for the USA (because they'll have to bail out the AI companies' billions of debt, and because the grifters in power will grift as much as possible), and b) any existing international trust in the USA has already been destroyed by Trump's antics, so the rest of the world has been decoupling as fast as possible for the last few years, and will keep on doing so, which will mitigate the impact. In a sense the American domino has already been leaning and putting pressure on its neighbours, so they have had time to brace themselves and start inching away from it, and the impact on them when it falls will be lowered due to the fact that it's already leaning down, but it itself will still shatter due to the fractures and rot that pervade it. permalink fedilink source parent
[–] MagnificentSteiner@lemmy.zip 1 point 1 month ago* (last edited 1 month ago) Most money isn't printed anymore. It's digital and is created by banks when they lend it. permalink fedilink source parent