all 69 comments

sorted by: hot top controversial new old
[–] 97 points 3 weeks ago (14 children)

As a millennial, I've developed a baseline immunity to once in a lifetime devastating economic collapse.

  • source
  • hideshow 14 child comments
  • [–] 31 points 3 weeks ago (7 children)

    I've never had any savings that can be influenced by a stockmarket crash, so I'll be fine

  • source
  • parent
  • hideshow 7 child comments
  • [–] 0 points 3 weeks ago (6 children)
  • [–] 2 points 3 weeks ago (2 children)

    Never had more then a thousand dollars in savings before a medical emergency, major crisis, economic implosion, or some other event destroyed anything I built.

    I just gave up entirely. Lot of people stuck in this position unfortunately

  • source
  • parent
  • hideshow 2 child comments
  • [–] 13 points 3 weeks ago (2 children)

    Gen X here - we had a good quiet 20 years and then everything went entirely to hell.

  • source
  • parent
  • hideshow 2 child comments
  • [–] 39 points 3 weeks ago* (last edited 3 weeks ago) (3 children)

    Tanking the financial system by means of the AI bubble bursting, right?

  • source
  • hideshow 3 child comments
  • [–] 16 points 3 weeks ago (2 children)

    “Whoops, our AI agent went rogue and took all your money.”

  • source
  • parent
  • hideshow 2 child comments
  • [–] 60 points 3 weeks ago (2 children)

    AI stays: Wealth consolidation
    Bubble bursts: Wealth consolidation
    You are fucked either way

  • source
  • hideshow 2 child comments
  • [–] 1 point 3 weeks ago

    It will scurry into its little hole nicihe just like nft's and crypto, it will stay around, but eventually, all the bullshit will die down... And we will move on to the next bullshit...

  • source
  • parent
  • [–] 19 points 3 weeks ago (1 child)

    The biggest mistake we made after the last financial crisis was not putting heads on pikes. Justice should be far more punishing if it's ever going to threaten white collar criminals.

    I'm not holding my breath, but I hope current political extremism breeds actual consequences for the wealthy elite this time around.

  • source
  • hideshow 1 child comment
  • [–] 3 points 3 weeks ago

    Absolutely, we told the wealthy to gamble recklessly and they'll get bailed out, then printed money for them to do it. When we turned off the money printer, they got big mad and now we'll all pay for it.

    Thanks Bush Jr!

  • source
  • parent
  • [–] 26 points 3 weeks ago (3 children)

    Still blaming AI for everything they do themselves I see.

  • source
  • hideshow 3 child comments
  • [–] 13 points 3 weeks ago (3 children)
  • [–] 5 points 3 weeks ago (2 children)
  • [–] [S] 34 points 3 weeks ago (2 children)

    An AI CEO advising people to stock cash, food and a hand crank radio in case AI takes down banking is some spectacular product marketing. Silicon Valley spent years insisting AI would run everything. Now the contingency plan is to make sure nothing you own needs a computer. Progress! 😳

  • source
  • hideshow 2 child comments
  • [–] 6 points 3 weeks ago

    imagine this kind of product marketing in 90s or something. "Hey everyone! We made something that is really really bad and dangerous (but also oh so very potent!!), it will end the world as we know it in a bad way just any day now! Look out, there it potentially goes! Soon we will be out of electricity and food, banks will collapse and nukes will fly! Isnt our product wonderful!!!"

    Not only has the other shoe dropped for the world, entire warddrobe got thrown out as well.

  • source
  • parent
  • [–] 9 points 3 weeks ago
    [–] 7 points 3 weeks ago

    Oh shut the hell up already

  • source
  • [–] 6 points 3 weeks ago

    Think all our debts will be wiped out? Or just our assets...I wonder.

  • source
  • [–] 5 points 3 weeks ago

    Why stock up? Buy shorts!

  • source
  • [–] 5 points 3 weeks ago

    Eh, us poors will just eat the rich.

  • source
  • [–] 5 points 3 weeks ago

    Why would I stock up when the rich already did it for me?

  • source
  • [–] 5 points 3 weeks ago (5 children)

    How many times has it been the end of the world? When I was a kid, it was the Cold War, every day the newspapers had articles about how we were on the verge of nuclear war. Famine was another, there was not enough water for the crops. There was AIDS, we were all going to get ill and die of Kaposi's Sarcoma. There's got to be a list of these somewhere...

  • source
  • hideshow 5 child comments
  • [–] 3 points 3 weeks ago* (last edited 3 weeks ago)

    every day the newspapers had articles about how we were on the verge of nuclear war

    And it was true. For example, at least in one instance, a single person prevented it.

    Something being likely and there being reports about it, does not mean that the risk wasn't real if the threat is eventually prevented.

    There's plenty of evidence to support the claims of AI causing havoc on the economy when it finally fails. It's an economically unviable product built by stealing from literally the entire world and then using obscene amounts of resources to function.

  • source
  • parent
  • [–] 3 points 3 weeks ago (2 children)

    I hear you. You missed the hole in the ozone layer though.

  • source
  • parent
  • hideshow 2 child comments
  • [–] 4 points 3 weeks ago

    To be fair on that one it's one of the single best example of people coming together to actually solve a problem.

    It's also one of the single best examples of why solving a problem goes unnoticed because it's boring and not news worthy.

  • source
  • parent
  • [–] 13 points 3 weeks ago (5 children)

    No way AI is taking down the financial system.

    It's all fearmongering and doomerism.

  • source
  • hideshow 5 child comments
  • [–] 4 points 3 weeks ago* (last edited 3 weeks ago)

    They will try and pass the fallout onto the people, similarly to how they did in 2008, with the mortgages being used to hedge their stock market bets (bad ones at that) after regulations were removed to safeguard that from happening and people lost their homes, the banks got bailed out. The people responsible got no punishment. They do this same shit all the time. They shoot too high hoping it'll catch on, and if it doesn't they don't pay the price. This time, we need to stand with whomever wears the cost and make sure the richest are the ones who pay. The ones responsible for this. They all go under, or we take them down.

    Eta, this article is bullshit tho

  • source
  • parent
  • [–] 0 points 3 weeks ago (10 children)

    Over god sake this again.

    They wouldn't do it if it was going to actually destroy the world. Even trillionaires need to live in the world unless they seriously think they're gonna build Elysium.

  • source
  • hideshow 10 child comments
  • [–] 5 points 3 weeks ago (8 children)

    They think that can buy their way out of the consequences, and they are right. Economic crashes will not functionally hurt those people and they won’t be affected by climate change other then having to buy a different set of houses. Also a couple of them are trying to build Elysium.

  • source
  • parent
  • hideshow 8 child comments
  • Currently yes, but when shit hits the fan and they gotta run to their bunkers, money won't mean jack after a few weeks of their bullshit considering most billionaires are out of touch morons who couldn't lead shit without throwing money at it.

  • source
  • parent
  • [–] 1 point 3 weeks ago (6 children)

    The people working on AI are definitely not going to be millionaires. I'm talking about the so called scientists, who claim to believe they are working on The Manhattan Project 2.0: Armageddon, yet still apparently stay.

    So what's the story here they go home at the end of the day to their family and say today with a good day I think the world will be destroyed by the end of 2027 but hey ho, at least I've got a pay rise, just need to make sure to spend it before next August.

    Give me a break. Anyone who is actually working on a project that they thought was going to destroy the world would stop working on it.

  • source
  • parent
  • hideshow 6 child comments
  • [–] 2 points 3 weeks ago (5 children)

    You clearly have no idea how much ai engineers are paid, and even less of an idea how their stock options are priced.

  • source
  • parent
  • hideshow 5 child comments
  • [–] 1 point 3 weeks ago (4 children)

    What are you talking about. The engineers the ground level folk that a developing this stuff yes they're paid highly but they're not millionaires by any stretch in the imagination. Building a system that will crash the entire economic system of the Earth is not beneficial to them.

  • source
  • parent
  • hideshow 4 child comments
  • [–] 3 points 3 weeks ago (1 child)

    At a 2tr$ targeted valuation (yes that number is silly but it's also the IPO target) 1$mil is only a .05% equity stake and engineers usually get .1-.2%

  • source
  • parent
  • hideshow 1 child comment
  • [–] 1 point 3 weeks ago

    Only if they divest. Which they can't really do because it isn't actually clear that the shares will increase in value long-term in fact dive into shares would put a scare on the market.

    But that's not really my point, my point is if the AI completely collapses the financial system then by its definition a lot of money isn't really going to motivate people not as they truly believed money would become worthless.

  • source
  • parent
  • [–] 2 points 3 weeks ago

    The main engineers buildings this stuff are millionaires. They’ve been making probably $400k on the low end and we know of salaries over a million on the high end.

    Still not enough to survive an actual world collapse though.

  • source
  • parent
  • [–] 1 point 3 weeks ago

    The average salary of the 60+ people left at character.ai is $1m, according to the news about disney buying them. Even a bankrupt one can make millionaires.

    The hundreds, perhaps thousands of people working on ai are millionaires. I dont know that being a millionaire is a great sign of anything anymore, but theyll have done it with just a few years of work.

  • source
  • parent
  • [–] 1 point 3 weeks ago* (last edited 3 weeks ago)

    What metrics do they look at to know if the end of the world is going to happen? What historical context patterns do they look at? "actually" destroy the world as if they know what "actually" will destroy their worlds

  • source
  • parent
  • [–] 0 points 3 weeks ago (4 children)
  • [–] 3 points 3 weeks ago (3 children)

    Show me a single source that has any proof of AI being economically viable.

  • source
  • parent
  • hideshow 3 child comments
  • [–] 1 point 3 weeks ago (2 children)

    Did I ever say that I was in support of AI?

  • source
  • parent
  • hideshow 2 child comments