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It’s time to block reckless AI IPOs and tax billionaires: We cannot let the billionaire class take unprecedented risks with our future. (www.theguardian.com)
submitted 1 week ago by to c/technology@lemmy.world
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[–] 9 points 1 week ago (9 children)

What can go wrong? Little reckless IPOs never killed anybody and never tanked world economy not even once... or twice... or thrice... or... oh well... how the fuck is this legal again?

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  • [–] 5 points 1 week ago (3 children)

    The IPOs don't concern me so much as the total amount of our economy AI has tied up. AI investments account for the majority of stock gains and almost all 2025 GDP gains. The Buffett Index, total stock valuation vs. GDP, stood at 225% last year. It was around 130% in 1929 and 2008.

    No, this doesn't feel legal and shouldn't be in any case.

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  • [–] -4 points 1 week ago (4 children)

    the world economy is not any countries responsibility, and money is speech and any restriction of speech is unethical.

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  • [–] 1 point 1 week ago (1 child)

    Copyright is a restriction on speech. So are libel laws. Are those unethical? I'm on the fence about copyright myself.

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  • [–] 0 points 1 week ago

    Allowing money to be equated with speech is both deeply unethical, as well as being just absolutely fucking stupid.

    Furthermore, refusing to restrict any speech whatsoever is both wildly impractical and totally bonkers levels of dangerous. Because according to your pithy little "absolute", yelling fire in a crowded theater has to be allowed.

    Geez, dude, go step outside and breathe the fresh air or something. My god...

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