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"We’re in an age where we’re being told AI is about to start writing its own software." The most pregnant sentence in the entire piece.
Earlier quoted context omitted.
Pretty sure the proposed solution is to buy stocks of the U.S. technology giants: Amazon, Apple, Facebook, Microsoft, and Alphabet, the parent company of Google.
The largest market cap companies in a given decade, overwhelmingly tend to be under-performers in the following decade. It's a trend that has repeated decade after decade. Many of these types of companies - AMZN, NFLX, GOOGL, FB - have pulled a massive share of their future returns forward (which is what happened to Microsoft, stagnating its stock for ~15 years). In 2007 the largest companies were: Exxon, GE, Microso…
If you're going to "just own the damn robots" at any price, you're essentially paying for this sort of insurance.
HN hug of death strikes again. Website does not reply.
"We’re in an age where we’re being told AI is about to start writing its own software." The most pregnant sentence in the entire piece.
Earlier quoted context omitted.
The largest market cap companies in a given decade, overwhelmingly tend to be under-performers in the following decade. It's a trend that has repeated decade after decade. Many of these types of companies - AMZN, NFLX, GOOGL, FB - have pulled a massive share of their future returns forward (which is what happened to Microsoft, stagnating its stock for ~15 years). In 2007 the largest companies were: Exxon, GE, Microso…
Investors are willing to accept much lower long-term returns for safe haven assets. If you're going to "just own the damn robots" at any price, you're essentially paying for this sort of insurance.
Microsoft for example has barely grown its income in a decade. On what planet should they have a 28 pe ratio? The stock has tripled (!) in five years on the back of zero income growth. It's massive value destruction just waiting to happen. Shareholders will not just sit, hold and tolerate the inevitable value destruction that is looming, it doesn't work as insurance at all in such a context.
Interesting investment thesis, but isn't there a better way to hedge yourself than buying tech stocks? That's just a huge bet on a tiny number of cyclical revenue sources: online shopping, online advertising, cloud services, iPhones, Microsoft Office, and Windows.
"We’re in an age where we’re being told AI is about to start writing its own software." The most pregnant sentence in the entire piece.
We have been using machines, build by other machines, to make new machines for the last 200 years.
"We’re in an age where we’re being told AI is about to start writing its own software." The most pregnant sentence in the entire piece.
[1] https://modeling-languages.com/last-one-code-generator-basic...
Interesting investment thesis, but isn't there a better way to hedge yourself than buying tech stocks? That's just a huge bet on a tiny number of cyclical revenue sources: online shopping, online advertising, cloud services, iPhones, Microsoft Office, and Windows.
Lithium, for batteries. Heavy metals, for processing. Energy, most of all. I wonder how long it'll be until we replace fiat currencies with a balance of kilowatt-hours.
Interesting investment thesis, but isn't there a better way to hedge yourself than buying tech stocks? That's just a huge bet on a tiny number of cyclical revenue sources: online shopping, online advertising, cloud services, iPhones, Microsoft Office, and Windows.
I don't mean to come off as a crypto fanatic but even if you turn on mainstream news you'll see articles like Goldman Sachs' are about to open crypto trading, china is about to open up and regulate cryptocurrency, russian wants cryptoruble etc. etc.
Clearly there's a high demand up and coming for it, and to not even take a dip in it you'd have to be a really pessimistic person.