Next bubble gonna be 64× ?
Good one 😂
quite an upgrade from the 32 bits
It’s not a bubble, it’s something way worse - “the reduction of the employee cost burden”
AI exists to allow wealth to access skill without allowing skill to access wealth.
Hyper-local renaissance is the only answer. Get to your village and out of the city while you still can.
The crash is going to be spectacular.
As someone that has been through both of these crashes, 17 times the size of the .com bubble is really, really bad. I don’t think we can even conceive of how big a hole this is going to make.
don’t worry the military tech bubble will get it covered)
jokes aside - i’m working in consulting and lots of those AI startups are straight up money laundering operations that don’t really need neither market research nor talent pool studies - pretty much everything is for show and next to zero real longterm planning. A rude awakening is long overdue for these hotshots.
One time I had a misfortune to ask what one of these startups is going to do when their product will fail to gain traction (it was yet another grammar check sentence finishing app like Grammarly) - how are they gonna pivot and their CEO laughed at me and said “we are going to work hard to make it a success” which is like super stupid thing to say when your project is in the superoversaturated market affected by cost of living crisis with customer engagement on a consistent decrease for the last 3 years and your product costs almost the same as the market leader but is also way worse.
Ever since the 90’s, I’ve often wondered if some of these bubble companies are just the living end of the “eat the rich” philosophy. I can see no more practical a way to achieve this, than to convince investment capital to empty their wallets, funneling it straight into the pockets of dozens if not hundreds more people. It’s hardly Robin Hood, but it’s also cash that’s no longer hoarded at the top.
Plus, we also know that a worthwhile goal is to not go the distance, but simply become a tasty snack for a bigger company before you go bankrupt. This lets your flimsy business model and weak patent portfolio become someone else’s problem.
it is like that with a lot of Ukranian startups - hotshot all the way then sell off and it fucks shit up for others who actually want to turn their startups into a long-running expanding businesses.
Double check your investments and be sure none of them are reliant on AI for future operative certainty.
Facts
Haha joke’s on you, I can’t afford to invest
How will we crash if the White House controls the Fed? This is gonna be a different kind of financial catastrophe.
you can maintain make-believe “all good nothing to see here” for only so long until the reality becomes undeniable. given that cost of living crisis is already running roughshod through the economy - it’s not a good sign and it will get worse.
That’s what I’m saying, it’s probably not going to be a crash, just the cost of living crisis on steroids. My moneys still on mass hunger riots next year
Even last year I would’ve said “hold ya horses, pardner” but these days I think you’re onto something. The way big tech keeps on screwing everybody while other parts of the economy actively sink is concerning.
This is the “planned economy” also known as a dreaded “communism”(1950-1989). We all know how it works. Some unqualified persons make choices on how to use the nations resources and all the sudden food and energy stop showing up.
my country went through it - i don’t remember energy shortages but the food shortages were real. That systemic mismanagement over decades with fudged performance figures up and down piled up so high it’s a miracle things weren’t worse. Took a solid decade just to clean this mess
Many such cases!! It’s pretty well studied ant this point. We designed the world economy around food security for the last 80 years. It was a tragically flawed system and was slowly perverted, but the rapid destruction of these supply chains is certainly not going to end well for some.
The dotcom bubble produced Google and Amazon.
They survived it because of massive investments by wealthy venture capitalists and a strong foothold in their markets. They also came out of it with an eye toward dominance of those markets. Lean and mean doesn’t even begin to describe how awful these companies are. I don’t think we are going to enjoy the surviving AI companies that emerge from this particular bubble because they will be even more capitalistic in their intent to dominate every market.
That’s exactly what they are trying to do. Become bubble proof through pure size in order to be the dominant player after the pop.
Winner takes it all, we need to pump MORE money into it.
/shttps://www.youtube.com/watch?v=VsE0BwQ3l8U&t=1492s
More of the same. I can’t wait to check out from society and specifically the tech world.
All these built out data centers are going to be eye sores when they go bankrupt.
I read through the non paywalled link and I couldn’t find any info on if this analysis adjusts for inflation or not. 17 times larger (before inflation possibly) seems so ripe for cherry picked data points in the name of sensationalism, that I wanted to confirm this one idea, and I didn’t. Did anyone else find anything like that?
Ever ask why there is so much yellow journalism around this subject? Who benefits and why so much effort? Lemmy acts like it’s totally normal because they agree with it. But r/the_donald would say the same about republican media’s headlines regarding immigration.
Guys compare the size of American debts to Canada’s
So, Fiat currency is going to shit the bed and be quickly replaced by the digital dollar Which will of course destabilize the world banking system.
The US will probably try to pay off its existing trillions in debts using the USD and causing massive inflation before replacing it with the digital dollar.
America clearly thinks it won’t matter, and it can be self-sufficient until it drives enough people into a digital currency, while ignoring the massive inflation caused on the USD.
