Although I happen to work in “Big Tech,” I’m a huge supporter of this in principle. I’m 100% convinced, however, that the tech “leaders” won’t get burned, it’ll be the individual contributors that are going to be sacrificed.
Did the bubble pop already?
No. This week was only a little shakiness. If it continues plummeting for several more weeks, it might have been the start. But when this Bible pops, the US economy will be in full recession/depression territory
They’re proposing that the Fed prioritize the needs of citizens over corporations? Good luck with that, America. Seriously. Good thing there’s so much precedent for that argument working. At all.
Pardon my cynicism, but like… Gestures to everything in the last 50 years
Are there enough US lawmakers who don’t own stock in the companies that would receive these bailouts?
Do enough of them understand that the rest of the economy would be in better shape if the biggest AI companies would face a strong setback in the next 2 years? Jesus, are they even aware that more American-made AI tools exist beyond Claude and ChatGPT?
Remember, even the biggest Obama supporters looked at the Wall Street bailouts like wtf dude… If people see that folly again, we’re gonna see some crowdfunded drone strikes on data centers 🍿
According to Zitron, there’s no realistic way to bail it out anyway. You can’t just bail out a falling stock market.
Remove the wealth from the top 10%. Then abolish and criminalize the sick market. Problem solved.
Edit: autocorrect failed successfully, I’m leaving it
Top 5-10% are just people with a solid retirement account or had professional jobs like doctors and lawyers, maybe some programmers. Not the country destroying hoarder billionaires
