You just know they’re just going to force the government to start incorporating AI to make things “more efficient” and subside these terrible investments with taxpayer dollars
I don't even understand how much of "The Economy" is actually tied up with AI (Ma and Pa Farmer aren't buying a gallon of AI every week). But if Musk et al see their fortunes implode just as they obtain power, that would be hilarious.
That’s the worst part of this, to me—none of them will actually lose anything from the bubble bursting because they’ll all be bailed out by the feds with tax money none of them paid into. Just the average person who doesn’t need or use any of this shit paying for it anyways.
A potentially HUGE problem is that everything is centralized now, AWS and Google run the majority of the internet. And all of these companies have heavily invested their futures into snake oil.
I think it's more like a house of cards. Most people didn't have their money tied up in subprime mortgages, but the collapse broke the economy because all the moneylenders who hold everything up did.
Those big money people have funded AI too and stand to lose big.
Six of these seven companies (I'm backing out Apple, which so far has been the most cautious about AI) are -heavily- invested in AI of one sort or another, and more importantly, their growth is considered strongly tethered to it.
And those six stocks, because of their massive size, represent a quarter of the S&P 500's "weight."
In other words, if ONLY those stocks started tanking, anyone who holds a fund that either directly tracks the S&P 500, or tangentially tracks the S&P 500, ...
Its because the Smiling Man knows that what Google and the other dunderfucks have built aren't AI. They're just machine learning algorithms that have inherent, extremely hard limitations. They're the evolution of the same tech we've been using since the mid 60's. Those groups also don't innovate.
Yeah, I can't even imagine they're having any luck keeping their models at par with how much of their own supply it has to be getting high on via their relentless scraping. It won't just plateau, it will revert.
Oh no! We're getting predictably diminishing returns from the development of the Garbled Plagiarism Machine, even with the infinity billion dollars we've sunk into it! Fuck! Shit!
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I don't even understand how much of "The Economy" is actually tied up with AI (Ma and Pa Farmer aren't buying a gallon of AI every week). But if Musk et al see their fortunes implode just as they obtain power, that would be hilarious.
Those big money people have funded AI too and stand to lose big.
A collapse in the AI bubble might or might not trigger a recession. But it would absolutely blow a hole in the stock market.
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- Nvidia
- Apple
- Microsoft
- Amazon
- Alphabet (Google)
- Meta Platforms (Facebook/Instagram/etc.)
- Tesla
2/?
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In other words, if ONLY those stocks started tanking, anyone who holds a fund that either directly tracks the S&P 500, or tangentially tracks the S&P 500, ...
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You'd think a powerful AI would discover that it can't steal someone else's work if everyone lose their job because it stole everything.