and take the economy with it…
Yeah like the last umpteen times this has happened in my lifetime. We live in a society of greed, who knew it would be so unstable?
But this hype is real. Promise! Really real! Or the next one!
See entry level people believe it’s fundamentals. Smarter people understand that it’s reading people and knowing when they’re dumb enough to invest and knowing when to bail before they wise up. So if you think about it in those respects, it is indeed an honest to goodness “real” thing. People are really being ripped off by con-artist.
But yeah, the days of the 1890s to 1930s of structured investment, measured risk, and mitigation of the unforeseen, those days are dead. There aren’t market fundamentals outside of being able to identify rubes.
If that’s the thing that kills the economy, the economy deserves to be killed
Which economy? The billionaire economy of the normies economy?
We will follow the billionaires into it economic hell. In solidarity of course.
Fuck, I wish we had a choice in this.
We could always make them feel like life is hell and death would be welcome, especially considering that they’re doing it to us., and they. Do. Not. Care.
They can fuck all our pensions up for good and starve us. That’s what it took to start the French Revolution, this time it’s gonna be global though.
First one, then the other because it’s only fair
ah, because the billionaires are going to suck the blood from the regular economy like a vampire to recover
Recover? No they buy low and double their take (or 100x or whatever the ratio is at this point).
We’re doing trillionaires now don’t forget. Even though Elon might not be anymore, there will be others unless we get our act together.
deleted by creator
…you don’t remember 2008, do you? Mass layoffs, small businesses closing in droves, difficulty getting loans, new grads unable to get adequate jobs for years (half the millennial cohort is still behind due to it)
No our federal government will spend billions to bail out whatever AI companies are favored by trump this week.
They prepare the too big to fail speech I think
That’s the point. AI was never meant to succeed. It’s a ransom. They are willing to kill the hostages so to speak.
I don’t have any money. Crash away. Fuck it.
Same with the GFC, 2007. I was broke, and did not even notice.
Yeah, some of us don’t have much money to begin with lol
Yeah, like we haven’t been through multiple “generational” recessions.
At this point I feel like I’ve spent more time alive during recessions than not, so what’s one more for the pile - especially if it means getting to watch the AI bros go bankrupt.
Saddle up, sea biscuit
The economy has not been good since the 70’s and I wish economists would collectively pull their heads out of their asses and stop towing the line of the ones in charge.
What you or I experience is completely decoupled from the stock market, or the GDP, and has been forever.
As a person who is studying economics, I agree with you on this
It’s time for progressive socio economics
I can burst it quick if I invest in Nvidia and AMD.
AMD is an industry leader with a huge economic moat and I think they will be okay when the bubble pops. I’m not sure about Nvidia though, despite having superb chips, because the problem is they loaned to companies to buy their chips. So, Nvidia’s finances will be strained because Jensen Huang created a ponzi scheme that could not repay or be profitable to itself.
Not really a ponzi, more like circular financing. Nvidia exposed itself to the AI bust for no reason other than to keep the money flowing to buy their chips for a little longer. They were selling shovels in a gold rush and screwed it up by letting people finance the shovels. They’re not in the finance business, they’re in the chip business.
nvidia gives a trillion dollars to AI, AI buys a trillion dollars of future, currently unmade video cards to run the AI, nvidia gives AI another trillion dollars, AI buys another trillion dollars of unmade future cards, etc etc etc.
Its the biggest, highest energy economic ouroborus I’ve ever seen.
I cant see how nvidia survives the pop, and quite frankly, I’d be glad to see nvidia die. its been dragging the GPU market in bad directions for a decade+ now and I think it’d be better to be free of its influence… and it’d open the door to new players to step up and competition again.
I’m usually a rationalist but nothing can convince me that Sod’s Law isn’t somehow baked into the structure of the universe.
Not could. It’s a mathematical certainty that it will. Barring a breakthrough miracle – fat chance.
It really feels like the options are:
- Bubble bursts because it requires more money than the entire global economy not too at this point.
- Total regulatory capture and we just somehow keep it going forever to the detriment and gradual decay of literally everything else.
One day we shall reclaim the sullied em dash for ourselves once and for all!
An AI breakthrough has nothing to do with LLMs, it’s like saying the auto industry will collapse except if there is an AI breakthrough that saves it.
That’s what a breakthrough means. But obviously all the funding is burned up in more DCs with incremental iteration on the same design. So the bubble has to pop for real innovation. But I think this coming AI winter will be permanent, as things are very visibly falling apart.
Well yeah, but my statement is true anyways IMO. Deep neural networks are unchanged since the eighties I guess, and again IMO it’s not they who need/can have a breakthrough, doubly especially since nobody seems to be working on anything else than “bigger datasets” and profiling and such.
The scumbags are getting better at making sure they end up rich when it happens. The only important thing from their point of view.
It has always been either the economy crashing because the AI bubble pops, or the economy crashes because the bubble didn’t pop due to AI successfully replacing enormous numbers of workers.
Or the economy crashes by AI replacing everyone and doing an absolute terrible job, causing stuff like supply chain collapse and communication/power outages.
I have yet to see someone explain how this whole thing actually works out. Just a dozen different scenarios that turn out terrible for almost everyone. The only scenario that works out is if a handful of people like Altman absolutely rule the world, become de facto dictators as they are the ones that control the few AI companies that run everything. And by work out, I mean it works out for that handful of people. For the rest of the world it’s probably just about the worst case scenario. But you just know it’s the scenario scammy Altman is hoping for.
It’s not AI it’s UBI. AI is going to happen. What was important was an orderly transition to UBI.
AI is going to happen.
Oh? So there are hard numbers showing a positive ROI now?
Frankly, it looks like nobody making decisions is doing that based on numbers anymore, and if that’s a case, it is definitely happening based on vibes.
Or not, if something new and shiny captures their attention before that.
That goalpost will soon switch to “well, this wasn’t the real ai anyway”
That was always the real goalpost. Any claims otherwise were just fraudulent marketing
These LLMs are not the type of AI that’s going to do the things they claim AI can do.
Yeah, when will people catch up on how they actually work (I’d put a “lol” here if it wasn’t so sad).
UBI won’t work without LVT
What’s LVT?
When you got nothing, you got nothing to lose.
Bob Dylan
Dylan has more good advice here, when it comes to bubbles you don’t need a weatherman to know which way the wind blows!
I didn’t know Bob Dylan was poor! /s
He was at one point in his life.
I thought I was going to learn something new, but he just seems to have done the regular job search that many artists do? He had a stable family with a house and so on, didn’t live on the street or anything. Struggled the first year to get contracts for what I read but that’s about it.
Yeah, I guess poor is over stating it. Not rich maybe.
I have hundreds of thousands of dollars to lose if the market pops lucky for time is on my side. This feels like the dot com bubble
So the top 7 companies hedged their entire futures on something unsustainable? In the last 12 months Oracle already laid off over 50,000 employees to bottom-line their AI goals (30,000 ish and 21,000ish a couple weeks ago).
Are we at the point of stocking up on materials and pulling $$ from banks for the inevitable collapse?
I’ve put all my money in pogs so I should be ok.
Uhh, bottle caps are the future.
Nuka-cola is hard to come by here tho.
I’ve wondered … are the bottlecaps radioactive?
How does that work out when you have a pocketful next to your nuts?About as radioactive as your pants.
You can have sex without worry!
You joke, but you can buy it. Jones Soda makes it. That said, it’s not worth buying except to keep the bottles as collectibles.
In-game, no they aren’t radioactive. Most of the wasteland somehow isn’t radioactive enough to set off a gieger counter. Yet a lot of the fresh meat and produce are radioactive. Doesn’t make a whole lot of sense to me.
Not played those games but to be fair in a nuclear wasteland you would expect fresh meat and vegetables to be more radioactive than the general environment. Animals and plants can accumulate radioactive fallout, if it’s diffuse in the soil it can be more concentrated in whatever lives off that soil. Radioactive contamination often consists of caesium-137 which behaves like potassium, and strontium-90 which behaves like calcium, so you’re getting screwed by conventional biochemistry as much as nuclear physics.
This is a concern in the Chernobyl exclusion zone even now, there’s mushrooms and other forage that must be avoided for this reason.
I quit drinking soda years ago as I got older and needed to cut shit that was making me fat.
I will (like every other year) occasionally have a Mountain Dew or a Sprite.
Soda is lovely stuff, but its definitely radioactive.
I think that’s kind of their idea. Be unsustainable and unprofitable, yet push to be on everything so the Goverment will bail them out.
I bet they’re just running as fast as they can, not caring about which direction as long as they are “ahead”.
The current everything bubble is too big to be bailed out. It will take down with it everything. Including the value of currency.
If this one bursting ends the USD status as Reserve Currency, that would be great.
Painful, but in the mid and long term great.
Yeah, Same here honestly
That’s why I bought gold and silver
I am entirely disconnected from “the economy”. Fuck AI and fuck the market. Tech cunts have it coming.
When the economy crashes, and it will, rich peoole won’t suffer, they will enrich themselves even more. Its always the poor that suffer
So you don’t go grocery shopping?
Did you know the economy has doubled every 20 years, with productivity alongside it, but the benefits don’t show up for us down here?
We should have a 3/4 day workweek with cheap good food, early retirement etc etc but we don’t.
And I’m saying this living in the EU.
And how does one become disconnected from ‘the economy’?
Lying to yourself is a really good start, followed closely by not buying food or services like internet
deleted by creator
What good will that be 'gainst the 20 stout men and their crossbows that will besiege you on the high road as you go to market on the Lord’s Day?
