Welcome back to life as a peasant.

Which is sort of what their glimpses of post-AI jobs in the future they could actually substantiate suggest. It's all a big heist from the wealth of the people into the pockets of the wealthiest using the smoke and mirrors of a "democratic" government, fueled by the possibility of them no longer having to placate human societies in any way if AI and robotics becomes advanced enough.

Don't worry, AI will still be around then to do all the thinking for us! It'll tell us how this was all for the best, and how we should be thankful to our overlords! We'd surely be making the best of a bad situation and not following a plan for this exact thing to happen!

At current 20y US Treasury rates, that wouldn't even cover the interest, growing the principle by tens of billions.

lmao, Klarna says that abroad? They've been established here in Sweden for like a decade at this point. Fucking leeches, inserting themselves everywhere. No good tech comes out of Sweden.

Numbers are from Wikipedia.

It's certainly likely that not all of these companies will need a bailout. AMD and NVIDIA sell products that are generally useful and established, but it's hard to say how much of any of these company's value is tied into AI hysteria or contracts that will fall through when AI customers go belly-up.

Yes, the bailout price is also not the same as valuation. I don't think it's outrageous to think that the coming recession will wipe out $20 trillion from the market, though.

Has that ever mattered?

There is so much worse it could still get.

Your labor, of course.

Bush?

The difference is that the banks are actually necessary for the economy to function. And mitigations were put in place to limit that exposure in the future. Mitigations that have been stripped back again in recent years because of billionaire lobbying.

None of the AI companies are necessary for the economy. And the big players that stepped into the quagmire aren't over leveraged enough to actually be in danger. Only the AI-only companies are in danger. The mega corps like Meta, Microsoft, Google, etc. would be hurt but would survive just fine.

They seemed to learn their lesson and changed the strategy in 2020. We saw much faster recovery when we bailed out the people than when we bailed out the businesses.

Also republicans

For better or worse, big banks are and were the backbone of the economy. AI is not and I think agree should not be.

Oops that's right. Thanks for the correction. I'm somewhat relieved I half purged that term from my mind but when you're right you're right!

Service now should be a penny stock that shit sucks ass

ServiceNow has also been pushing chatbots hard. Part of the cost of using their platform was mandatory training about how great all the chatbots are and how you should be using them for every aspect of your work.

Well crud. I hadn't seen that angle.

An entire financial industry ruined by bad loans to a single market you say... Wait, I think I've seen this one....

Also there could be contagion to the big banks and institutional investors (think pension funds) from the bond sales and the construction loans for the data centers.

What about all the major companies who have scraped their workforce to replace it with AI, so sure that it would pay off. They also can't afford for AI to go under, so they'll add to the "please bail us out" for the good of the economy.

We'll be told that democrats and republicans both support bailouts, but that we have to support democrats because republicans worse. On a dwindling number of policies democrats never fight for.

I did indeed catch that rumble! He was clearly fed that line as part of the setup for a bailout.

Why does someone else need to talk about for us to have some fun with it?