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Ouch; that is bleak

it's a really bad way to run a world economy, we'll have to see if we still have one of those after the bubble pops

nono actually this is all the fault of minorities or something. this is true because a youtuber said it!

"TV show that people really liked was cancelled because it didn't make as much money as an AI company said that it might make five years from now"

AI is a fucking parasite And they will drown the entire world for the promise of gold.

No money for healthcare, no money for schools, no money for research, no money for regulation, no money for infrastructure, no money for aid to other countries. Somehow there is money for bunkers and ballrooms?

Meanwhile, the economy:

Sooner the bubble pops, the better we'll all be.

No money to fire Shane Beamer… smh.

Money represents corpses The corpses are stacked up into yachts, bunkers, mansions It's why nobody else has anything to eat All the Illionaires are afraid they'll starve because their bodies are craving LOVE so intensely. Love for reality they'll reject to the end of the world idiots 💲 >💚 = 🔥🌎

Biotech and green tech, which are the actual world changing technologies, are struggling to find investment because AI is sucking everything up

The dang thing is a cancer. Anyone saying we need to live with it because 'that's just life now, get with the program' is advocating on behalf of the tumor. We *cannot* keep living this way.

Oh I've noticed, as has everyone I talked to on a regular basis. It is even affecting employment here in the states. The fallout of the bubble burst is going to be UGLY!

I just think we are a very dumb species over all.

Knowing Russia they are dumb enough to be developing an antibiotic-resistant novel Plague bacteria in a BSL3 lab tho (the "broken glass vial" excuse is bs btw and if the FSB is lying about that while quarantining people with only 1 case so far... things arent good, chief, and im tired of this life).

God damnit, now what… Oh good. Well… at least that’s an old and well known foe.

the earth will dry up and die before yanks ever decide something is worth being minorly inconvenienced

"Ruling out the ice caps melting, meteors becoming crashed into us, the ozone layer leaving, and the sun exploding, we're definitely going to blow ourselves up." www.youtube.com/watch?v=kCpj...

For sure, I was just saying that even before that started happening, I was worried that we were putting too many of our economic eggs into the big tech baskets. You gotta diversify your bonds

That's what happens when people who have no clue what they're doing in reality but are put in charge of important societal jobs anyhow, unfortunately. 😞

thats wrong. they didnt bet it on the most optimistic visions panning out. They bet it on a ponzi scheme, each hoping not to be the last in and last out. They know its a bubble, they just all hope to be the ones to cash out with a bundle leaving everyone else broke.

This, but most of it is just sitting in rich people's bank accounts and stock portfolios as stolen labor.

No, Republicans and their besties, the techbros, made that bet without consulting most Americans. All of this is about a couple of hundred white men making decisions for everyone else, while only considering what seems to be best for them.

Even the Tulip buyers would be shaking their heads at this mess.

If there’s a society left afterwards to make meaningful retrospectives, I am already seething at the thought of the Netflix documentary where the architects of this economic disaster - themselves insulated from the consequences - will opine on “EVERYONE loved AI! NOBODY saw this collapse coming!”

Oh, I'm not sure you'll still think that once you see what they're planning to do with the rockets over the next two years

I wonder what the impact of that on ocean ecology would be

I just keep thining about, the zillions of dollars in fake money that are being generated in SpaceX & Anthropic stock. How much of that is being converted to real money, used to buy durable things, by the people running those companies. If Oracle collapsed tomorrow Ellison would still own Paramount.

Not only are we putting all our eggs into one basket, the basket has a very large and clear hole in it

The "AI" industry is a symptom, not a cause.

And then they wonder why people hate AI like

Threw it all away on a glorified madlibs engine. Dumbest timeline ever.

honestly warfare doesn't seem to hot now either

And they're building the AI so they don't have to hire educated workers.

vibes

Businesses have learned in the last few decades is that you don’t have to actually make money. You just have to make your business bigger and more valuable to be rich. Amazon became as big as it is because they weren’t price gouging they were lowering prices to get a bigger share of the market

it’s so cool because ai shit is constantly hemorrhaging money so we’re dumping billions into shit that will not make those billions back i’m sure this will be great for the economy

a plasma cannon that shoots pure high energy wishful thinking

Literally an economic bubble 😬

No money for anything – while corporate profits are at a record high, and workers' share of income is at the lowest level in generations. www.usatoday.com/story/money/...

There’s only so much liquidity - people have to sell other financial instruments (such as bonds) and/or take out loans to invest in AI, both of which push interest rates up

But AI lending is crowding out the borrowable money - all the banks and private credit are limited in their ability to get approval to lend for anything besides AI data centre dreams

NGL it sure seems like the financialization of everything is predicated upon the idea that money can be conjured up by non-mint organizations

Not even the hardware. They buy up the raw materials and just sit on them, not using them, just to starve the competition.

They are closing Fast Food Joints. That is the level of fracked we are.

I'm just trying to figure out if the GDP number still reflects a real thing

As someone who has to deal with a shitty app punch system, (that also had an AI chatbot slapped on it) I can only imagine the wage theft resulting.

It seems in your story like the AI isn't really even doing the work the employees used to do, the AI is more like an excuse to fire humans than it is a replacement for humans

the situation could be fixed basically overnight if only people understood enough to create municipal (aka public/state-owned) nonprofit banks that can lend (and ideally also create) money with minimal interest rates

All if those things are boring to investors because there’s no, in their mind, potential for infinite growth or at least a huge increase in valuation over the next 5-10 years. Putting aside the actual possible outcomes. Create a cap on wealth and this effect will diminish. 100% above a billion etc

I mean, AI does fall under the umbrella of corporate greed.

Exactly. It’s a shell game and both the PE and AI people think they are the ones running the scam. IDK maybe they are in it together, but I know the people who do the labor and the consumers who use the products will be left holding the bag. Along with taxpayers who will finance the bailouts.

AI sure is an effective accelerant, though, and it has the function of tying up money that otherwise might have gone somewhere productive. At least until the billionaires start firing money directly into space.

Another grocery worker confirming the same, with a fun knock-on effect that we were way busier than normal the last 4 days, because it's the beginning of the month, when everyone's financial assistance renews, and we're selling way more ramen, pasta and canned goods than anything else.

I work at one and steadily declining sales are obvious to everyone.

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