The insane AI push is purely driven by fear of being left behind.
No one is actually stopping to ask whether it is all worth it.
The insane AI push is purely driven by fear of being left behind.
No one is actually stopping to ask whether it is all worth it.
To be fair just like the dot com bubble it will effect everyone. The rich just can afford a hit that big. Yet some people not matter the class will get rich from the bubble popping that’s just the market
Fully agree!
Companies will go bankrupt, millions of peoples retirement savings will disappear, and many will suffer /die from the economic aftershock…
BUT
The rich will have already realized their dividends / capital gains
The rich will have already purchased the land / property
The rich will already have the data centers / ram / AI
They rich will have their assets and eat ours to
…
The whole system is a kleptocracy and the AI bubble bursting will make late stage capitalism worse not better.
arguably, a crash represents the poor/middle classes best chance at obtaining true financial independence. oligarchs don’t call working the labor trap for nothing, wages are capped by design (especially in amerikka)
fundamentally what a crash represents is overleveraged gamblers getting forced to sell, debt-laden businesses (likely also over-leveraged) getting foreclosed on etc.
for cash-poor people who understand basic market mechanics, a crash is like shooting fish in a barrel. only people really hurt by it are “new money” who can’t do basic math, people that panic sell seeing their retirement lose half it’s value overnight, people who don’t realize the whole (US) market is a casino designed to take your $ etc.
It’s not just that people panic, it’s that it takes time to recover. If you’ve got generational wealth, you let it recover. If you need to pay for housing or food, you sell assets, at a reduced rate and take the loss.
People panicking is only half of it.