What’s mindfuckingly frustrating is that EVERYONE (but the rich ass financial types) see it coming. And there is ABSOLUTELY NOTHING WE CAN DO to prevent or prepare for it.
Oh they see it coming as well, but unlike us, they have the levers and means to come out on top of it.
They will keep the scam going until an IPO. Then cash out and let the rest of us fucked
Oh, come on. This is nothing like the Great Depression.
The Great Depression was caused by a supply side spending boom, producing massive excess of capacity, while nobody had any money to spend on anything.
…
Nothing like it, I tell you!
Is it possible that their attempt to be listed on the index is a way for private capital to cash in on their investments, leaving 401k funds etc holding the bag when the value dips?
There are numerous articles and analyses online exactly to this effect. It is absolutely the goal.
I mean the money was just sitting there in those 401ks they’d be foolish not to figure out some way to rob it for themselves
That’s been my take on it for sure.
The fear is that, if the past is anything to go by, the AI boom will follow a similar arc to these other technology-driven infrastructure booms: a flood of speculative capital will flow in, leading to massive overinvestment, asset price bubbles and ultimately a crash as euphoria collides with a disappointing reality.
Shocking.
I’m only shocked that the “euphoria” hasn’t collided with the disappointing reality yet. At least not catastrophically.
It seems the more abstracted the financial systems are, the more the finance industry can bullshit its way through. And at this point, money is just whatever numbers they type into their computers. Just completely made up and detached from reality.
OpenAI and Anthropic’s IPOs +2-4 weeks is my best guess for when the market starts sliding. Investor money is already drying up, but too many rich people haven’t cashed out yet, helping themselves (like SpaceX) to our index retirement funds to countersign withdrawals at the inflated valuations.
I’m on the fence after that if it’ll happen slow or fast. Possible we’ll get a Bear Stearns/Lehman type failure that brings down the world’s markets, after a major player no longer has a blank check at multi-billion/quarter burn rates, and hits insolvency like a freight train. But also likely it could unravel more slowly like a sweater, as de-escalating levels of market access pull on the thread in turn.
Great, that means were gonna fight mecha hitler in the 2040s
Better load up Wolfenstein 3D again. We’re ready for this.
You’re training the AI on tactics to avoid
So you’re saying we can train it to fight wrong, as a joke.
1929…2029…uh…help?
It’s gotta pop sooner than that or we won’t make it.
Theere won’t be any money left that isn’t trapped in the Nvidia > AI companies > Nvidia loop if it goes that long.
Just wait for the collapse and buy when the prices are low. As the markets recover the poor will get poorer and the rich will get richer. What is there to be worried about?
The reality that the rich will be bailed out with public funds, perpetrators and benefactors will receive no just consequences, and the economic hardship will destroy prosperity for multiple future middle class generations with unattainable retirement and runaway inflation.
So the usual stuff.
But that will only be bad for you if you’re poor.
So, like 95% of us?
Joke’s on them. All the public funds got used up on the last “too big to fail” bailout.
The Great Depression was caused by a mismanagement of the money supply on the Gold Standard. It has nothing in relation with the AI boom and potential bust. Typical financial fearmongering of breadlines, global collapse, and forever depression.
Normalized speculation on margin and everything being leveraged to the tits.
It’s a pity that your Pulitzer Prize level writing didn’t enable you to craft something more literate than a two sentence clickbait title for your article.
Judging by the downvotes, I think my comment might have been misinterpreted. I was addressing the writer of the Fortune article in absentia, not criticizing the poster of the article on Lemmy.
No, people just think your petty response to the headline, in the absence of any meaningful response to the article, doesn’t contribute anything to the conversation.
Fair enough. I’ll live with my downvotes, but it is a pet peeve. In the spirit of making a more tangible contribution, albeit still an off-topic one, I’ll leave this slightly satirical Mc Sweeney’s article here, which addresses this scourge: https://www.mcsweeneys.net/articles/two-sentence-headlines-are-everywhere-heres-why-you-should-be-concerned
🤣🤣🤣
