Less money for middle class and more money for investors owning Nvidia, OpenAI, Anthropic.
Make no mistake about what’s happening, that’s wealth transfer from the bottom to the top.
And with how this particular AI technology only works by consuming all of the internet’s and our libraries’ data … it’s not just a transfer, it’s pretty much theft.
Uhh… All shareholders get wealthier when the stock price goes up, there’s no magic mechanism where it’s only majority shareholders.
Obviously majority shareholders will make even more, but they all profit from it. I’m not even American and my retirement fund jumped up decently from the S&P 500 going up. Though now I’ve exited from the US ETFs completely. Only Europe and Asia now.
Less money for middle class and more money for investors owning Nvidia, OpenAI, Anthropic.
Make no mistake about what’s happening, that’s wealth transfer from the bottom to the top.
And with how this particular AI technology only works by consuming all of the internet’s and our libraries’ data … it’s not just a transfer, it’s pretty much theft.
“works” is a bit too strong
Not even investors. Majority shareholders/BoD.
Uhh… All shareholders get wealthier when the stock price goes up, there’s no magic mechanism where it’s only majority shareholders.
Obviously majority shareholders will make even more, but they all profit from it. I’m not even American and my retirement fund jumped up decently from the S&P 500 going up. Though now I’ve exited from the US ETFs completely. Only Europe and Asia now.
Pennies or a few hundred vs millions was the point.