Where does all this leave us? For one, you better hope and pray that AI delivers a magical transformation, because if it doesn't, the whole economy will collapse into brutal serfdom. When I say magic here, I mean it; because of the ~38T national debt bomb, a big boost is not enough. If AI doesn't completely transform our economy, the massive capital misallocation combined with the national debt is going to cause our economy to implode.
AI Is Too Big to Fail
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Re: AI Is Too Big to Fail
#12If it wasn't for AI investments, it's likely the United States would be in a recession right now. So the biggest achievement of this amazing new technology is to artificially prop up Wall Street? For those who can read the tea leaves --- it's absolutely a bubble --- a financial bubble. The real reason why China is ahead in many areas is because their leadership is a little more technologically savvy and progressive t…
If this is a pre-war economy, the US is screwed not because of AI but because we started a stupid trade war that's going to cut us off of our supply of dysprosium which is critical for defense manufacturing.
The US would only be screwed in that type of scenario if they allowed themselves to be. If things really got to that point they would just take over the deposits.
Re: AI Is Too Big to Fail
#13AI isn't going anywhere. It won't magically disappear, but that businesses are trying to use AI in situations that are unsustainable and unneeded.
Re: AI Is Too Big to Fail
#14> Think of it like WWII, only only instead of planting victory gardens to beat the Nazis, we're building AI apps and finding ways to create the economic value needed to cover the reckless bets being made by the elites. LOL fuck this, the stock market deserves to burn to the ground.
When did the HackerNews comment section turn into this? Low quality, aggressive, fervently anti-establishment.
Re: AI Is Too Big to Fail
#15> The government is practically manufacturing a ponzi scheme and the losers will be anyone who doesn't own stock
*anyone American who doesn't own stock
Re: AI Is Too Big to Fail
#16> Think of it like WWII, only only instead of planting victory gardens to beat the Nazis, we're building AI apps and finding ways to create the economic value needed to cover the reckless bets being made by the elites. LOL fuck this, the stock market deserves to burn to the ground.
When did the HackerNews comment section turn into this? Low quality, aggressive, fervently anti-establishment.
Anti-establishment is sort of a requirement for doing a start-up.
Aggressiveness is a requirement for doing a start-up in times of constrained capitalism
Low quality is driven the by the availability of capital for dumb ideas.
So... a while now?
Re: AI Is Too Big to Fail
#17[flagged]
Re: AI Is Too Big to Fail
#18> Think of it like WWII, only only instead of planting victory gardens to beat the Nazis, we're building AI apps and finding ways to create the economic value needed to cover the reckless bets being made by the elites. LOL fuck this, the stock market deserves to burn to the ground.
The only problem is that the stock market is tied to a bunch of retirement/pension and other accounts. Yes stock market should burn to the ground but also I think pensioners and retirees shouldn’t be put out, just the finance bros and private equity folks which money is just a plaything.
Pensioners and retirees willingly dumping money into index funds without oversight are the dumb money that enables all of this.
So yes, they deserve a haircut.
Re: AI Is Too Big to Fail
#19Those who don't learn from... whatever, these clowns have it coming
"... but those who do learn from history are doomed to watch everyone else repeat it."
Re: AI Is Too Big to Fail
#20> Demand that the titans of tech change, and if they don't, stop feeding them your dollars. Haha okay. Have you met people? Have you seen what they’re using it for? The users of LLMs do not care if they have to pay some of their wages to avoid working and learning. Even if it means they will no longer receives wages (or even close to the same wages) in the long term.
I prefer to view people through a positive lens. I believe we are capable of living up to our lofty goals, and we should encourage each other to do that.