These bonzos want the world economy to collapse so there will be massive layoffs, allowing them to offer AI bots to companies and governments to replace human workers.

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[–] 109 points 1 year ago (2 children)

It will eliminate the weak meaning the companies in actual competitive markets, so monopolists like Amazon can buy them up and monopolize even more markets.

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  • [–] 36 points 1 year ago (1 child)

    Yep. Trillion dollar companies are so huge that a deep recession only mildly impacts revenue.

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  • [–] 15 points 1 year ago

    Yeah, that's why they do the whole greedflation thing, to make central banks raise rates, causing a slew of bankruptcies among the competition, making them ripe for a buyout.

    The fact that it also destroys labour negotiating positions is a cherry on top.

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  • [–] 50 points 1 year ago (5 children)

    Translation: I have enough money to weather this self-inflicted disaster. Do you?

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  • [–] 12 points 1 year ago (3 children)

    He wants to buy everything remotely competition at scrap-bottom prices

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  • [–] 11 points 1 year ago (2 children)

    I genuinely believe that this is why they crash the economy every now and then. We've had at least 4 economic catastrophes in the last 30 years...and they were all predictable and preventable.

    But somehow, none of these very wealthy and successful people, were able to see the inevitable consequences of their own actions? Yeah. No. Not buying it.

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  • [–] 47 points 1 year ago (5 children)

    Pissed off at Bezos betraying us all again? Consider not giving him your money and boycott Amazon.

    Someone reading this message could cost them hundreds or thousands over the coming year by simply shopping elsewhere. That's not nothing. There's no doubt that Amazon is convenient, but it is possible to get along without them.

    For Americans: in this time of rising fascism, it's important to chip away at the pillars that are holding up the regime in the White House. This is one way to use your agency to have a measurable impact.

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  • [–] 13 points 1 year ago

    I just want to add to this that YOU DO NOT HAVE TO BOYCOTT SOMETHING COMPLETELY TO MAKE A DIFFERENCE.

    It's absolutely OK if you cannot 100% cut Amazon out of your life. It's OK if you have to buy from them sometimes because it's the only place you can find that particular thing you need.

    You just need to stop making them your default. Check somewhere else first. Make that little bit of extra effort to see if maybe a local store has what you're looking for.

    If you reduce your spending on Amazon by 80%, that's still a huge reduction. If enough people do that, they'll be in serious trouble. And it's a lot more manageable than an all or nothing boycott.

    And if we could convince a hundred million people to reduce their spending Amazon by just 10%, that would have far more impact than a hundred thousand people cutting them out entirely. It's better to set a lower standard that more people can engage with, especially because the more people develop that habit of not always going to Amazon first, the more it's place in their lives will continue to shrink.

    I call this "soft boycotting". Reduce rather than remove. It's far more sustainable as an option in your every day life, and it encourages people to actually engage with boycotting instead of writing it off because it feels like an impossible commitment.

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  • [–] 6 points 1 year ago*

    Unfortunately, it won't make much of a dent at all. Amazon's traditional goods business runs on very thin margins, and they can write it off. Their profit center these days is AWS, and there isn't much you or I can do to boycott that.

    That said, I have canceled Prime, and I only use Amazon for some hobbyist stuff that's hard to get from literally anywhere else.

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  • [–] 33 points 1 year ago (4 children)

    Crashes are good for people that have capital because it lets them buy things that people are forced to sell at a discounted price.

    Not because it lets them sell ai. The goal is to snatch up cheap assets to sell when the economy recovers then do it all over again.

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  • [–] 9 points 1 year ago

    Crashes are good for people that have capital because it lets them buy things that people are forced to sell at a discounted price.

    Facts. You don't even have to be particularly rich to do it. I had a few thousand I'd saved over a decade in March 2020, used it to buy oil stocks at a 90% discount, then sold it two years later when things rebounded. It wasn't 'fuck you' money, but it allowed me to pay off my student loans.

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  • [–] 6 points 1 year ago* (last edited 1 year ago)

    my personal plan is to gather as much capital as i can while this everything bubble goes wild (fuck it, look at total volume levels now vs...anytime last 30 years...nobody but degenerate gamblers and those that should know better are playing right now), then...go on a mass-building spree to drive down the price of housing.

    high density, high-quality, affordable housing built for sale not rent, sold exclusively to long-time local residents and/or first-time home buyers. my hope is this crashes individual localized housing markets, as the local rent parasites cant find renters and since they probably took loans out on their properties to throw into the casino...

    then i swoop in, buy their distressed property on the cheap, throw down even more high-density/quality, affordable housing for sale.

    repeat until everyone has a home

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  • [–] 1 point 1 year ago*

    Yeah, the OP's comment is weird: it's because what these types call "AI" not actually working properly in most environments (mainly because it makes critical, even deadly, mistakes with far, far higher frequency than even untrained humans) so adopters of the Technology are already suffering losses due to it and having to rollback their deployments of the "AI", that the bubble will blow causing an US economy collapse because of how much Market valuation is tied up to the AI bubble and the massive misallocation of resources and investments linked to it (a local economic collapse which might or not spread to become "world economy collapse").

    An economic crash caused by the latest insanelly overhyped Tech grift turning out to not work at all at lowering costs for the adopters of that technology (quite the contrary) isn't an opportunity to sell more of that very insanelly overhyped technology.

    I would expect that, like last time around, the way the capital rich will benefit from an economic collapse is because they'll be able to buy Assets on the cheap, whose values will then be propped up by Governments just like last time around (part of the reason why both realestate and stock markets quickly got back to beating records after the last world economic collapse)

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  • [–] 22 points 1 year ago (1 child)

    It’s always pathetic when someone who lives in a completely shielded Elysium accuses others of weakness while erecting barriers to prevent anyone from proving them wrong.

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  • [–] 22 points 1 year ago

    Bezos needs to be reminded his flesh is as soft and squishy as the the rest of the weak.

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  • [–] 18 points 1 year ago

    I can't wait for the purge of the billionaire class.

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  • [–] 18 points 1 year ago (8 children)

    The last crash destroyed families and destroyed lifetimes of savings from the utter devastation of the fallout. My family never recovered and tragedy was the result. I know millions of families will never recover from that and there was no accountability at all. The occupy movement was a genuine working class movement against the criminal oligarchs who destroyed our economy. Unfortunately the book was thrown at the occupy movement and the well funded tea party movement and white nationalist movement was funded by the oligarchs and ignored by lawmakers. This all led to what we’re dealing with today. Families never recovered the cost of living keeps skyrocketing and we keep getting poorer. Unfortunately the correct counter movements get stamped out and the ones that blame minorities get funded and this is where we’re at today….we can’t move any further right we are at the end of the line. The oligarchs need us to fight eachother so they can justify the police state they’re building indefinitely. It’s like System of a Down said “they’re trying to build a prison for you and me to live in”

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  • [+] 5 points 1 year ago (3 children)
  • [–] 4 points 1 year ago* (last edited 1 year ago)

    I was in none other than Lehman Brothers during the last Crash and thus in the aftermath, still inside the Finance Industry and armed with some understanding of how that Industry worked, keenly observed both what the Obama Administration did and what the Cameron Government did (I was in the UK), and the Obama Administration very much did everything the bankers wanted and then some.

    This wasn't merely a refraining to doing a few things, this was activelly working with the very people who caused the Crash to make sure they were fine (in many cases, even better than before) after the Crash. It's not by chance that all over the World (but more so in the US and UK) Asset Owners came back even wealthier than before whilst people whose income came from Work kept seeing their lot get progressively worse for at least a decade (in the UK, for example, years after the Crash, incomes of the top 10% by wealth of the population were going up in real terms 23% a year, whilst the rest saw their real terms income fall by 1.9% per year).

    The actions of the Obama Administration are what's behind the complete halt of Social Mobility in the US (which used to have more Social Mobility than Europe) and the current problems of poverty at the lower end of the social scale there, which in turn helped the rise of Far-Right Populism in the form of Trump.

    Obama's reaction to Occupy Wall Street wasn't a "oopsie", it was fully consistent with the kind of policies he was enacting, the section of society he chose to help and the sections of society he chose to sacrifice to fund that help, since he got elected and started tackling the consequences of the Crash.

    I too had hopes about Obama, but seeing the choices he made, many going far, far (FAR) beyond what was necessary to protect the broader Economy (in some case actually sacrificing the future of the many to make sure the few did not at all saw their wealth go down) dispelled that hope and any illusions I had about him.

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  • [–] 16 points 1 year ago
    [–] 21 points 1 year ago (9 children)

    Except that it won’t eliminate anyone because they will all get a federal bailout.

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  • [–] 2 points 1 year ago (8 children)

    Are you talking about the AI / big tech companies? No they won’t.

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  • [–] 12 points 1 year ago (2 children)

    My fellow traveler in Christ, the feds have already invested 8.9 billion to keep Intel from suffocating to death in its own farts

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  • [–] 0 points 1 year ago (1 child)

    Intel actually makes stuff that gets used. OpenAI just spends billions upon billions of dollars for a solution in search of a problem to solve. It has to be shoved into everyone's faces because someone has to start needing it, but no-one really does. The total revenue of all generative AI is the size of - brace yourself - the smartwatch market.

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  • [–] 10 points 1 year ago (2 children)

    I imagine they're referencing the 2008 precedence, although that was banks. But these tech companies are now 'worth more' than the banks so they may be considered 'too big to fail'. Wiki entry for 2008 bailout: Bailout Link

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  • [–] 0 points 1 year ago

    I don't think big tech that does stuff besides just AI (Google, Meta) will go bankrupt when the AI bubble busts. The AI-only tech companies though (OpenAI, Anthropic, ...) - I guess we'll see. I'm pretty sure many of those will die.

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  • [+] 11 points 1 year ago (1 child)
  • [–] 9 points 1 year ago

    By weak he means less rich

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  • [–] 8 points 1 year ago

    Translation: will allow them to buy up a bunch of shit for cheap as soon as it bursts

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  • [–] 7 points 1 year ago (7 children)

    if you think you can hide in your bunkers, or compound without paying people that are essentially slaves, they will easily turn on you in the end.

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

    That's what the AI guard dogs are for.

    Plus also preditive AI and eye tracking to check for those thinking of turning on him.

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  • [–] 1 point 1 year ago (4 children)

    They don't repair themselves.

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  • [–] 1 point 1 year ago (3 children)
  • [–] 1 point 1 year ago (2 children)
  • [–] 1 point 1 year ago (1 child)

    I uh... have to take your word for it.

    I don't think the bookmark worked so it's just a whole book for me.

    I was just kidding though.

    However long term thinking isn't exactly these guys' favorite. It tends to get in the way of them having a good time.

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  • [–] 7 points 1 year ago

    Since Bezos can't perform any of the functions that actually make his company function, it seems the real weakness is at the top.

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  • [–] 13 points 1 year ago (2 children)
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    [–] 6 points 1 year ago (1 child)

    Dude could turn it all around if he started preserving the environment somewhat...

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  • [–] 5 points 1 year ago (2 children)

    These bonzos want the world economy to collapse so there will be massive layoffs, allowing them to offer AI bots to companies and governments to replace human workers.

    Correct me if I'm wrong, but Amazon didn't go the AI route that far. They are a marketplace for AI-gen products, they added summaries to their storefronts, but there is that as far as I know. What Bezos probably wants - is to see newer weirdos like Altman, maybe Musk to get choked, so he becomes the uncontested capitalist #1.

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  • [–] 5 points 1 year ago* (last edited 1 year ago)

    Amazon Web Services (AWS) is the biggest provider of compute resources and servers in the world. They have huge data centres full of servers and Nvidia GPUs that they rent out to AI companies. Almost every fortune 500 spends 7-8 figures $$$ on aws services a year and a lot of smaller companies spend 6-7 figures too.

    Amazon invested billions in anthropic who incidentally use their GPUs and sell access to their models via AWS too.

    They certainly have skin in the game when it comes to LLMs/GenAI.

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  • [+] 5 points 1 year ago (1 child)
  • [–] 1 point 1 year ago

    Yeah I keep saying the only thing our current AI is good at is coding, and even then its like someone with 3-4 YoE. Sure it knows a lot of languages and concepts, but often makes mistakes.

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  • [–] 5 points 1 year ago

    At this point I feel like it’s like an emperor has no clothes situation.

    We all know the tech doesn’t work in an intelligent way, but the second the tech CEOs admit it, the bubble will pop.

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  • [–] 5 points 1 year ago (1 child)

    Of course he'd say something like that, because he has literally nothing to worry about.

    When it's the big guys fucking up, it's us footing the bill.

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  • [–] 4 points 1 year ago

    Can it eliminate the work weak?

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  • [–] 4 points 1 year ago

    This guy buys things for a dollar and sells them for two dollars. He's no smarty-pants, he just leveraged tech to track deliveries but some people refer to this as "logistical genius", when it's not. Local milk delivery was doing this pre-tech.

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  • [–] 4 points 1 year ago

    I don't think arrogance is the right strategy to deal with economic bubbles. With that said, I fully support Amazon's arrogance in the face of AI Bubble because they have it coming.

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  • [–] 4 points 1 year ago

    Uh won't this have the opposite effect? I can see an article like this in the near future:

    "Companies marketing AI replacements for workers flounder after mass layoffs result in increasingly cheap, plentiful labor pool"

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  • [–] 3 points 1 year ago

    Said the man, unaware of how easily AI could replace his role...

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  • [–] 3 points 1 year ago

    ...the universe does not reward the strong any more than it does the weak...

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  • [–] 3 points 1 year ago*

    These bonzos want the world economy to collapse so there will be massive layoffs, allowing them to offer AI bots to companies and governments to replace human workers.

    Then more companies and governments will be trash and potentially collapse. And when everything is reducend to rubble, then what? Jennifer Government?

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  • [–] 5 points 1 year ago

    He doesn't care, aws is well placed to boom whatever happens

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  • [–] 2 points 1 year ago

    Keep putting money in please

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  • [–] 1 point 1 year ago

    It's like he's begging for it

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  • [–] 1 point 1 year ago

    Some VC innuendo linked from the article.

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  • [–] 1 point 1 year ago

    Another day in the age of the dystopia plutocrats.

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