The economy has not been good since the 70’s and I wish economists would collectively pull their heads out of their asses and stop towing the line of the ones in charge.
What you or I experience is completely decoupled from the stock market, or the GDP, and has been forever.
As a person who is studying economics, I agree with you on this
It’s time for progressive socio economics
economy of paid subscriptions needs to die. ☑️
I agree, I deleted almost every app that has a subscription
If the apps have a pay once and buy once option then I keep and don’t delete
I can burst it quick if I invest in Nvidia and AMD.
AMD is an industry leader with a huge economic moat and I think they will be okay when the bubble pops. I’m not sure about Nvidia though, despite having superb chips, because the problem is they loaned to companies to buy their chips. So, Nvidia’s finances will be strained because Jensen Huang created a ponzi scheme that could not repay or be profitable to itself.
Not really a ponzi, more like circular financing. Nvidia exposed itself to the AI bust for no reason other than to keep the money flowing to buy their chips for a little longer. They were selling shovels in a gold rush and screwed it up by letting people finance the shovels. They’re not in the finance business, they’re in the chip business.
nvidia gives a trillion dollars to AI, AI buys a trillion dollars of future, currently unmade video cards to run the AI, nvidia gives AI another trillion dollars, AI buys another trillion dollars of unmade future cards, etc etc etc.
Its the biggest, highest energy economic ouroborus I’ve ever seen.
I cant see how nvidia survives the pop, and quite frankly, I’d be glad to see nvidia die. its been dragging the GPU market in bad directions for a decade+ now and I think it’d be better to be free of its influence… and it’d open the door to new players to step up and competition again.
I’m usually a rationalist but nothing can convince me that Sod’s Law isn’t somehow baked into the structure of the universe.
That’s the point. AI was never meant to succeed. It’s a ransom. They are willing to kill the hostages so to speak.
So the top 7 companies hedged their entire futures on something unsustainable? In the last 12 months Oracle already laid off over 50,000 employees to bottom-line their AI goals (30,000 ish and 21,000ish a couple weeks ago).
Are we at the point of stocking up on materials and pulling $$ from banks for the inevitable collapse?
Listen, I work IT at a managed service provider, which means I see a dozen + small to medium business environments daily.
The number of users that I know of, out of the hundreds or thousands that I support, who are actively using “AI” continually to do their jobs… Well, I can likely count them on one hand
There’s a bunch that use whatever free tool they are allowed to access. Which kind of flies under the radar for me, but I still don’t think you’re dealing with double-digit percentages of people using “AI” that actually spend any money on it.
And these are business users, who work at businesses with rather deep pockets at times…
People are not buying the product. “AI” in the business world, isn’t making any money. So from what I’ve seen, this is less a matter of if, and more a matter of when and how bad.
As a tech person, I am not threatened by AI. It can’t do my job. Also, I’m the one who fixes it when things go wrong. And the only thing I’m looking forward to is being able to pick up cheap RAM, and storage when this all comes crashing down as AI companies cash out and liquidate their inventory. Maybe I can pick up a cheap AI server and repurpose it to be a 3D/gaming virtual desktop, so when my friends come over with their cheap laptops and on board graphics for a LAN party, I can just provision them a virtual gaming computer and we can go ham…
I’m going to save my sheckles until then…
I have limited experience with the market but I see it this way: anyone with AI holdings should liquidate at their earliest convenience. I don’t think they’ll be keeping up this charade for a lot longer. Anyone who has tech holdings, either cash out, or be prepared to have that money held up for a while because it will take a long time for the prices to recover, and unless you want to cash out at a loss, you’re going to be holding for a long time. Everyone else, hold onto your butts. Probably everything will probably dip when the fecal matter hits the rotary air movement device. Non tech areas of the market should recover pretty quickly, so meh?
This is obvious to me that the whole thing has failed. That realization hasn’t hit execs yet.
I don’t have any money. Crash away. Fuck it.
Same with the GFC, 2007. I was broke, and did not even notice.
Please do. I’m tired of reading PKD novels, they’re more fun happening IRL.
The scumbags are getting better at making sure they end up rich when it happens. The only important thing from their point of view.
I am entirely disconnected from “the economy”. Fuck AI and fuck the market. Tech cunts have it coming.
When the economy crashes, and it will, rich peoole won’t suffer, they will enrich themselves even more. Its always the poor that suffer
And how does one become disconnected from ‘the economy’?
Lying to yourself is a really good start, followed closely by not buying food or services like internet
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What good will that be 'gainst the 20 stout men and their crossbows that will besiege you on the high road as you go to market on the Lord’s Day?
It would be so funny that the economy crashes, making poor people poorer and rich people richer!
Because that is what happened in the past few crashes. So I’m not entirely sure when and where I should start laughing about this
in the past the rich got richer because the poor didn’t understand who to blame.
sentiment towards the wealthy these days is far more volatile than it was in the 1930s.
And because we bailed out the rich.
It has always been either the economy crashing because the AI bubble pops, or the economy crashes because the bubble didn’t pop due to AI successfully replacing enormous numbers of workers.
It’s not AI it’s UBI. AI is going to happen. What was important was an orderly transition to UBI.
AI is going to happen.
Oh? So there are hard numbers showing a positive ROI now?
Frankly, it looks like nobody making decisions is doing that based on numbers anymore, and if that’s a case, it is definitely happening based on vibes.
Or not, if something new and shiny captures their attention before that.
That goalpost will soon switch to “well, this wasn’t the real ai anyway”
The stability of our economy depends on them quickly changing course.
Oh. Well.
Too big to fail…again…
Yeah wow hey maybe you should have fucking listened to everyone who’s been saying that for goddamn YEARS.
