The rich will be fine. It is the rest of us who will be fucked.
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Why couldn’t we spend it on better quality of life? It would have real-world benefits.
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The AI bubble is the biggest rug pull in human history.
The companies involved in building out AI infrastructure, committed as they are to spending vast sums on capital expenditure, now face a not-too-dissimilar situation to the railroad companies of the early 1870s. In particular But in the last six months two things have changed dramatically over the last twelve months.
Wtf is this? Please tell me this article wasn't written by AI
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43 comments in c/technology@lemmy.world view that post
The fear is that, if the past is anything to go by, the AI boom will follow a similar arc to these other technology-driven infrastructure booms: a flood of speculative capital will flow in, leading to massive overinvestment, asset price bubbles and ultimately a crash as euphoria collides with a disappointing reality.
Shocking.
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Great, that means were gonna fight mecha hitler in the 2040s
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Is it possible that their attempt to be listed on the index is a way for private capital to cash in on their investments, leaving 401k funds etc holding the bag when the value dips?
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1929...2029...uh....help?
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Just wait for the collapse and buy when the prices are low. As the markets recover the poor will get poorer and the rich will get richer. What is there to be worried about?
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Oh, come on. This is nothing like the Great Depression.
The Great Depression was caused by a supply side spending boom, producing massive excess of capacity, while nobody had any money to spend on anything.
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Nothing like it, I tell you!
What's mindfuckingly frustrating is that EVERYONE (but the rich ass financial types) see it coming. And there is ABSOLUTELY NOTHING WE CAN DO to prevent or prepare for it.
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In particular But in the last six months two things have changed dramatically over the last twelve months.
Has this article been written by AI? I've seen a number of weird sentences in this article but this one... Wut?
In topic: yeah, AI will fuck humanity in all the ways we never expected. There won't be terminators, we'll just have broken economies, extreme unemployment, no water, huge pollution, and all for a tool that is confidently wrong half the time and dumps people into psychosis.
Awesome
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Gary Marcus has a Substack everyone should read. It's sobering.
bottomless pits and blind bus drivers tend to do that
It's a pity that your Pulitzer Prize level writing didn't enable you to craft something more literate than a two sentence clickbait title for your article.
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The Great Depression was caused by a mismanagement of the money supply on the Gold Standard. It has nothing in relation with the AI boom and potential bust. Typical financial fearmongering of breadlines, global collapse, and forever depression.
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3 comments in c/world view that post
Oh the thing going pop but unfortunately we are going pay for this. The rich going be bailed out.
Only bright side is that hopefully the crash will allow us to riot. Because we going need a bloody revolution to overturn this fascist take over.
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Don't worry, 401ks buffer the US economy now which is why you usually can only pick from a small set of crappy funds. They are what prevented a major depression the last couple of major recessions. Poor people lose their retirement to keep rich people afloat as always.
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