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”
Let the dominoes fall.
It would be so funny that the economy crashes, making poor people poorer and rich people richer!
Because that is what happened in the past few crashes. So I’m not entirely sure when and where I should start laughing about this
in the past the rich got richer because the poor didn’t understand who to blame.
sentiment towards the wealthy these days is far more volatile than it was in the 1930s.
And because we bailed out the rich.
And it will just happen again. If you think the poor will rise up or something like that, then I have a bridge to sell you.
Do not underestimate the US propaganda apparatus
at this point I couldn’t care less if they do or not. humanity is fucked. we’re in a downward spiral heading for the poop chute.
That’s the point. AI was never meant to succeed. It’s a ransom. They are willing to kill the hostages so to speak.
The stability of our economy depends on them quickly changing course.
Oh. Well.
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
Too big to fail…again…
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.
Yeah wow hey maybe you should have fucking listened to everyone who’s been saying that for goddamn YEARS.
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
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?
Please do. I’m tired of reading PKD novels, they’re more fun happening IRL.
The scumbags are getting better at making sure they end up rich when it happens. The only important thing from their point of view.
Listen, I work IT at a managed service provider, which means I see a dozen + small to medium business environments daily.
The number of users that I know of, out of the hundreds or thousands that I support, who are actively using “AI” continually to do their jobs… Well, I can likely count them on one hand
There’s a bunch that use whatever free tool they are allowed to access. Which kind of flies under the radar for me, but I still don’t think you’re dealing with double-digit percentages of people using “AI” that actually spend any money on it.
And these are business users, who work at businesses with rather deep pockets at times…
People are not buying the product. “AI” in the business world, isn’t making any money. So from what I’ve seen, this is less a matter of if, and more a matter of when and how bad.
As a tech person, I am not threatened by AI. It can’t do my job. Also, I’m the one who fixes it when things go wrong. And the only thing I’m looking forward to is being able to pick up cheap RAM, and storage when this all comes crashing down as AI companies cash out and liquidate their inventory. Maybe I can pick up a cheap AI server and repurpose it to be a 3D/gaming virtual desktop, so when my friends come over with their cheap laptops and on board graphics for a LAN party, I can just provision them a virtual gaming computer and we can go ham…
I’m going to save my sheckles until then…
I have limited experience with the market but I see it this way: anyone with AI holdings should liquidate at their earliest convenience. I don’t think they’ll be keeping up this charade for a lot longer. Anyone who has tech holdings, either cash out, or be prepared to have that money held up for a while because it will take a long time for the prices to recover, and unless you want to cash out at a loss, you’re going to be holding for a long time. Everyone else, hold onto your butts. Probably everything will probably dip when the fecal matter hits the rotary air movement device. Non tech areas of the market should recover pretty quickly, so meh?
This is obvious to me that the whole thing has failed. That realization hasn’t hit execs yet.
