The sharp drop is the latest sign of anxiety creeping through Wall Street over how long it will take AI companies to see returns on massive investments.
It clearly is a bubble. But that doesn’t automatically mean AI is useless. The .com bubble was the biggest of them all, but lots of companies survived and business largely moved online. The data centres (which nobody likes but which is clearly providing some value to somebody, whether we like it or not) don’t disappear overnight if the bubble bursts.
Never said it wasn’t lol. But the way that narcissitic capitalists are rewarded by capitalism is why the implementation is the issue.
The only value being provided are to the billionaires who continue to get more wealthy to a point in which they literally control politics without being elected.
And just like the 08 recession they’re going to try their damndest for the only form of socialism they support: corporate socialism. Privatize the gains, and in this case, socialize the losses. They’re going to seek bailouts so that when their circular financing crumbles they drift down on golden parachutes while our tax dollars fund them, the burning of our atmosphere, the contamination of our air, our drinking water, and our very minds as their sycophancy psychosis machines run rampant and delude people into entirely false realities.
Motherfuckers socialized their own sycophancy, they insulated themselves with greedy yes men who just want their money. They then built machines that do the same to us, isolating us and agreeing with every idea we have.
The AI bubble is bigger than the dotcom bubble. It’s bigger than the subprime bubble. We are still living in the wreckage of that bubble, 18 years later.
It’s even more “funny” that just that: there are several bubbles going on right now, not just the AI, most notably a massive realestate bubble and also bubbles in things like car loans in the US.
Further, consumer indebness is again at record levels, worse even than 2007.
In other words, it’s like a mix of the dotcom bubble (this time around with a tech stack that delivers at best a lower return on investment than the Internet) AND the 2007 bubble of overvalued realestate and people deep in debt (with the personal finances of most people worst on this side of 2007 than they were on the other side so there’s a higher probability of defaults) AND a bunch of smaller unpopped bubbles all over the place.
I expect that when one of the big ones goes the resulting consumer retrenchment and pullback from both lenders and investors is going to cause the other bubbles to blow up (as loans are recalled, not rolled over or defaulted on, consumption falls and investors desperatelly try to exit their riskier positions) and the full result will be at least as bad as 2000 and 2008 combined, possibly worse.
It clearly is a bubble. But that doesn’t automatically mean AI is useless. The .com bubble was the biggest of them all, but lots of companies survived and business largely moved online. The data centres (which nobody likes but which is clearly providing some value to somebody, whether we like it or not) don’t disappear overnight if the bubble bursts.
Never said it wasn’t lol. But the way that narcissitic capitalists are rewarded by capitalism is why the implementation is the issue.
The only value being provided are to the billionaires who continue to get more wealthy to a point in which they literally control politics without being elected.
And just like the 08 recession they’re going to try their damndest for the only form of socialism they support: corporate socialism. Privatize the gains, and in this case, socialize the losses. They’re going to seek bailouts so that when their circular financing crumbles they drift down on golden parachutes while our tax dollars fund them, the burning of our atmosphere, the contamination of our air, our drinking water, and our very minds as their sycophancy psychosis machines run rampant and delude people into entirely false realities.
Motherfuckers socialized their own sycophancy, they insulated themselves with greedy yes men who just want their money. They then built machines that do the same to us, isolating us and agreeing with every idea we have.
The AI bubble is bigger than the dotcom bubble. It’s bigger than the subprime bubble. We are still living in the wreckage of that bubble, 18 years later.
It’s even more “funny” that just that: there are several bubbles going on right now, not just the AI, most notably a massive realestate bubble and also bubbles in things like car loans in the US.
Further, consumer indebness is again at record levels, worse even than 2007.
In other words, it’s like a mix of the dotcom bubble (this time around with a tech stack that delivers at best a lower return on investment than the Internet) AND the 2007 bubble of overvalued realestate and people deep in debt (with the personal finances of most people worst on this side of 2007 than they were on the other side so there’s a higher probability of defaults) AND a bunch of smaller unpopped bubbles all over the place.
I expect that when one of the big ones goes the resulting consumer retrenchment and pullback from both lenders and investors is going to cause the other bubbles to blow up (as loans are recalled, not rolled over or defaulted on, consumption falls and investors desperatelly try to exit their riskier positions) and the full result will be at least as bad as 2000 and 2008 combined, possibly worse.