Washington is loosening financial safeguards just as risks tied to artificial intelligence are mounting.
  • IHeartBadCode@fedia.io
    104·
    1 个月前

    and take the economy with it…

    Yeah like the last umpteen times this has happened in my lifetime. We live in a society of greed, who knew it would be so unstable?

      • IHeartBadCode@fedia.io
        2·
        1 个月前

        See entry level people believe it’s fundamentals. Smarter people understand that it’s reading people and knowing when they’re dumb enough to invest and knowing when to bail before they wise up. So if you think about it in those respects, it is indeed an honest to goodness “real” thing. People are really being ripped off by con-artist.

        But yeah, the days of the 1890s to 1930s of structured investment, measured risk, and mitigation of the unforeseen, those days are dead. There aren’t market fundamentals outside of being able to identify rubes.

  • Th4tGuyII@fedia.io
    55·
    1 个月前

    Yeah, like we haven’t been through multiple “generational” recessions.

    At this point I feel like I’ve spent more time alive during recessions than not, so what’s one more for the pile - especially if it means getting to watch the AI bros go bankrupt.

  • ceenote@lemmy.worldEnglish
    33·
    1 个月前

    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.

    • Thorry@feddit.orgEnglish
      19·
      1 个月前

      Or the economy crashes by AI replacing everyone and doing an absolute terrible job, causing stuff like supply chain collapse and communication/power outages.

      I have yet to see someone explain how this whole thing actually works out. Just a dozen different scenarios that turn out terrible for almost everyone. The only scenario that works out is if a handful of people like Altman absolutely rule the world, become de facto dictators as they are the ones that control the few AI companies that run everything. And by work out, I mean it works out for that handful of people. For the rest of the world it’s probably just about the worst case scenario. But you just know it’s the scenario scammy Altman is hoping for.

    • evenglow@lemmy.worldEnglish
      2·
      1 个月前

      It’s not AI it’s UBI. AI is going to happen. What was important was an orderly transition to UBI.

  • eleitl@lemmy.zipEnglish
    24·
    1 个月前

    Not could. It’s a mathematical certainty that it will. Barring a breakthrough miracle – fat chance.

    • CheeseNoodle@lemmy.worldEnglish
      4·
      1 个月前

      It really feels like the options are:

      • Bubble bursts because it requires more money than the entire global economy not too at this point.
      • Total regulatory capture and we just somehow keep it going forever to the detriment and gradual decay of literally everything else.
  • muusemuuse@sh.itjust.worksEnglish
    23·
    1 个月前

    That’s the point. AI was never meant to succeed. It’s a ransom. They are willing to kill the hostages so to speak.

  • Danitos@reddthat.comEnglish
    21·
    1 个月前

    I think that’s kind of their idea. Be unsustainable and unprofitable, yet push to be on everything so the Goverment will bail them out.

    • eleitl@lemmy.zipEnglish
      6·
      1 个月前

      The current everything bubble is too big to be bailed out. It will take down with it everything. Including the value of currency.

  • melfie@lemmy.zipEnglish
    19·
    1 个月前

    I wonder if we will be able to get GPUs and RAM for reasonable prices afterwards.

    • wewbull@feddit.ukEnglish
      6·
      1 个月前

      The 2008 bailout happened because it was the banking sector that was exposed. If the consumer banks fail, everybody’s accounts go up in flames.

      Part of getting that bailout was that the banks had to restructure to insulate commercial banking from investment banking. Supposedly the investment arm can now get taken out, and the damage to the commercial arm is limited. I’ll believe that when I see it. The big question at the moment is “how exposed are the banks?”.

      Oracle, Nvidia, Microsoft, OpenAI, Anthropic are all massively exposed. Nvidia and Microsoft might be big enough for a decimated version of themselves to come out the other side. Everyone else is going to the wall. No need to bail them out though. That’s a contained explosion.

      If the bank are making loans of hundreds of billions thinking they’re sure fire money makers, but actually they’re piles of shit, then it’s 2008 again. That’s when we see if they really protected the commercial arms of their banks.

    • schmorp@slrpnk.netEnglish
      16·
      1 个月前

      I’ve heard World War 3 sucks. Can’t wait for World War 4, hope they finally get all the bugs sorted out.

    • mobyduck648@lemmy.worldEnglish
      3·
      1 个月前

      Dylan has more good advice here, when it comes to bubbles you don’t need a weatherman to know which way the wind blows!

    • Polisheocket@lemmy.zipEnglish
      1·
      1 个月前

      I have hundreds of thousands of dollars to lose if the market pops lucky for time is on my side. This feels like the dot com bubble