This is a threat. They know that they’re using the stock market to find their greed and that anyone with saving tied up there (Retirement funds that are invested in the market) will be on the hook. Plus the tax payer money they’re going to ask for because they’re “too big to fail”.
The sooner the better. Can’t wait!
Kaboom! 💣 💥
Let me fix that for you: “When an AI bubble pops…”
The sooner the better. Less LLM infatuation means better customer service, less overall environmental impact, and more water available to cities.
And lower RAM price.
I will get out totally clean of that, so thank you and fuck you
The plumbers will. The electricians will. The carpenters will. The bricklayers will. The farmers will. The steel plant workers will. The dockyard workers will.
Yes, if you’ve got savings invested it’ll touch you, but the actual jobs - you know the ones adding and making real, concrete things, probably won’t notice a big different if the AI stocks tank 30% in a day.
Who is “no one”? Because yeah, there will be splash damage, but some sectors (“AI” companies and the megacorps involved in the massive ongoing self-dealing circlejerk) will collapse, but others will simply see a correction. And I’ve already dumped anything LLM-related (as well as most US-based securities and ETFs) as of early this year. So I’ll take a hit (everyone will take a hit), but it’s not going to be nearly as bad as it will be for all the bag holders.
Tech companies will ask (and get) an enormous bailout so they don’t have to fire everyone, and then they will fire everyone anyway. In order to recoup some of the budget losses, King Trump will implement one or two more taxes
I’ll be fine.
Let’s be very clear: Pichai is one of the Very Big Assholes whose name should be uttered in the same breath with Thiel, Altman, Zuckerberg etc.
He drew comparisons to the late 1990s Internet boom, which saw early Internet company valuations surge before collapsing in 2000, leading to bankruptcies and job losses.
“We can look back at the Internet right now. There was clearly a lot of excess investment, but none of us would question whether the Internet was profound,” Pichai said. “I expect AI to be the same. So I think it’s both rational and there are elements of irrationality through a moment like this.”
Equating the dot-com bubble with the internet. Only a $trillion company CEO could spout such bs. And the misinterpretation translates very well to AI.
Frankly, what I’m getting from this article is “Hey, we’re not the #1 in the current hype, so would everybody else please slow down a little so we’re all at least on equal footing again?”
And the idea that it could all burst, leaving not only Google/Alphabet utterly destroyed - don’t threaten me with a good time, Sundai!
AI winters and history repeating itself. As a concept it’s here to stay, but every incarnation leads to a cycle of misconception, hype, and disillusionment
Too big to fail is too big to exist. Break them up.
[he] addressed the “immense” energy needs of AI, acknowledging that the intensive energy requirements of expanding AI ventures have caused slippage on Alphabet’s climate targets. However, Pichai insisted that the company still wants to achieve net zero by 2030 through investments in new energy technologies. “The rate at which we were hoping to make progress will be impacted,” Pichai said, warning that constraining an economy based on energy “will have consequences.”
We need “line go up” so badly, we’re willing to bake the planet.
“We will have to work through societal disruptions,” he said, adding that the technology would “create new opportunities” and “evolve and transition certain jobs.”
Someone once described AI as “a way for the wealthy to access the benefits of the skilled, without allowing the skilled to access the benefits of wealth”.
or since there are FOSS AI models that are free as in free beer it allows everyone to access the benefits of the privileged - i.e. those who can specialized in fields like arts that aren’t conducive to making enough money out of the gate to survive as a working class person
“Privileged” lol.
If you couldn’t make a poem before “AI”, you still can’t make a poem now.
Oh the great technology god will help us. We will have so much reduction, you cannot imagine! We have no idea how but surely throwing money at it will get things done. Trust us!
This is code for “Hey government, you better be ready to bail us all out”.
Was that a threat?
And I hope he wasn’t threatening everyone who participates in the global economy.
Was that a threat?
“Google might break! Please be careful!” - the threat of a good time.
Lol that’s how I read it, or at least trying to suggest they’re in a Mutually Assured Destruction scenario.
“No bail-out, no economy” basically.
Wall Street didn’t learn from past events and is doomed to repeat history?
Shocking… /s
They’ve learned they can get away with it.
Oh, they learned. We thought them that no one will be accountable and that the greediest will be bailed out and continue to get richer and richer. We are keeping jackals in our house, and we are giving them a pat on the head and a tasty treat every time they bite our children.
Why are we so stupid?
It feels like we’re being ruled by think tanks.
All reasoning must crumble before one prime directive: The richest can only get richer. No matter the cost.
They learn how to profit the next time.
they profit from every crisis already. can’t let a good one go to waste.
That money goes somewhere so some people will be getting out better
It doesn’t work like this though. If your pension fund is heavy into a company that suddenly loses 90% of its value, your pension suddenly becomes worth a lot less…
