These bonzos want the world economy to collapse so there will be massive layoffs, allowing them to offer AI bots to companies and governments to replace human workers.
I don’t think arrogance is the right strategy to deal with economic bubbles. With that said, I fully support Amazon’s arrogance in the face of AI Bubble because they have it coming.
He doesn’t care, aws is well placed to boom whatever happens
…the universe does not reward the strong any more than it does the weak…
Of course he’d say something like that, because he has literally nothing to worry about.
When it’s the big guys fucking up, it’s us footing the bill.
We’re subsidizing the building and operation of the data centers to take our jobs too.
Bezos needs to be reminded his flesh is as soft and squishy as the the rest of the weak.
Except that it won’t eliminate anyone because they will all get a federal bailout.
Are you talking about the AI / big tech companies? No they won’t.
I imagine they’re referencing the 2008 precedence, although that was banks. But these tech companies are now ‘worth more’ than the banks so they may be considered ‘too big to fail’. Wiki entry for 2008 bailout: Bailout Link
I don’t think big tech that does stuff besides just AI (Google, Meta) will go bankrupt when the AI bubble busts. The AI-only tech companies though (OpenAI, Anthropic, …) - I guess we’ll see. I’m pretty sure many of those will die.
they are probably expecting trump to bail them out.
My fellow traveler in Christ, the feds have already invested 8.9 billion to keep Intel from suffocating to death in its own farts
Intel actually makes stuff that gets used. OpenAI just spends billions upon billions of dollars for a solution in search of a problem to solve. It has to be shoved into everyone’s faces because someone has to start needing it, but no-one really does. The total revenue of all generative AI is the size of - brace yourself - the smartwatch market.
Okay? And your point is
You say Big Tech isn’t going to get bailed out during this AI bubble, they already are!
I’m saying that companies whose sole focus is generative AI will not be bailed out by the US government.
That’s not what you said at all buddy
👍
Of course they fucking will
It doesn’t make any sense for them to do that. Maybe because of corruption. But there’s a complete lack of any good business reason to be bailing out those slop companies.
Since Bezos can’t perform any of the functions that actually make his company function, it seems the real weakness is at the top.
It will eliminate the weak meaning the companies in actual competitive markets, so monopolists like Amazon can buy them up and monopolize even more markets.
Yep. Trillion dollar companies are so huge that a deep recession only mildly impacts revenue.
Yeah, that’s why they do the whole greedflation thing, to make central banks raise rates, causing a slew of bankruptcies among the competition, making them ripe for a buyout.
The fact that it also destroys labour negotiating positions is a cherry on top.
Even better. The AI Bubble bursting may be good because it may finally wake people the fuck up as to how utterly god-damned stupid their ruling class is and eliminate them.
Lol just like we did the last time. And the time before that. And the time before that. And…
allowing them to offer AI bots to companies and governments to replace human workers
If that’s what he expects will happen then he is out of touch with AI and its capabilities. AI nowhere near being capable of completely replacing humans.
In fact the main reason for the AI bubble is because billions have been dumped into it expecting it will be capable of replacing humans, but all it’s really good at is making AI slop.
The only jobs it has kind of started replacing, but not really - more like transforming them - are software engineer jobs.
When the economy collapses, it will affect ALL businesses, and all kind of people will lose jobs, from software engineers to teachers to analysts. And none of those jobs can be fully replaced by AI, or it would have happened already.
Bezos is a fucking clown.
Yeah I keep saying the only thing our current AI is good at is coding, and even then its like someone with 3-4 YoE. Sure it knows a lot of languages and concepts, but often makes mistakes.
I Sometimes wonder why we actually listen to them at all?
It’s always pathetic when someone who lives in a completely shielded Elysium accuses others of weakness while erecting barriers to prevent anyone from proving them wrong.
“Survival of the fittest! Let nature take it’s course!” ::nervously re-checks automatic locks::
if you think you can hide in your bunkers, or compound without paying people that are essentially slaves, they will easily turn on you in the end.
That’s what the AI guard dogs are for.
Plus also preditive AI and eye tracking to check for those thinking of turning on him.
They don’t repair themselves.
Says you
https://www.gutenberg.org/cache/epub/72890/pg72890-images.html#THE_MACHINE_STOPS
It’s been prophesized
I uh… have to take your word for it.
I don’t think the bookmark worked so it’s just a whole book for me.
I was just kidding though.
However long term thinking isn’t exactly these guys’ favorite. It tends to get in the way of them having a good time.
It is a book, short stories, The Machine Stops By E. M. Forester
The machine cannot self repair and breaks down after a time, eventually sparking revolution (and panic) among the people
He’s going to have real trouble proofing his air vents against cement as well.
Crashes are good for people that have capital because it lets them buy things that people are forced to sell at a discounted price.
Not because it lets them sell ai. The goal is to snatch up cheap assets to sell when the economy recovers then do it all over again.
Crashes are good for people that have capital because it lets them buy things that people are forced to sell at a discounted price.
Facts. You don’t even have to be particularly rich to do it. I had a few thousand I’d saved over a decade in March 2020, used it to buy oil stocks at a 90% discount, then sold it two years later when things rebounded. It wasn’t ‘fuck you’ money, but it allowed me to pay off my student loans.
Yep. It’s a fire sale for the 1%
Yeah, the OP’s comment is weird: it’s because what these types call “AI” not actually working properly in most environments (mainly because it makes critical, even deadly, mistakes with far, far higher frequency than even untrained humans) so adopters of the Technology are already suffering losses due to it and having to rollback their deployments of the “AI”, that the bubble will blow causing an US economy collapse because of how much Market valuation is tied up to the AI bubble and the massive misallocation of resources and investments linked to it (a local economic collapse which might or not spread to become “world economy collapse”).
An economic crash caused by the latest insanelly overhyped Tech grift turning out to not work at all at lowering costs for the adopters of that technology (quite the contrary) isn’t an opportunity to sell more of that very insanelly overhyped technology.
I would expect that, like last time around, the way the capital rich will benefit from an economic collapse is because they’ll be able to buy Assets on the cheap, whose values will then be propped up by Governments just like last time around (part of the reason why both realestate and stock markets quickly got back to beating records after the last world economic collapse)
my personal plan is to gather as much capital as i can while this everything bubble goes wild (fuck it, look at total volume levels now vs…anytime last 30 years…nobody but degenerate gamblers and those that should know better are playing right now), then…go on a mass-building spree to drive down the price of housing.
high density, high-quality, affordable housing built for sale not rent, sold exclusively to long-time local residents and/or first-time home buyers. my hope is this crashes individual localized housing markets, as the local rent parasites cant find renters and since they probably took loans out on their properties to throw into the casino…
then i swoop in, buy their distressed property on the cheap, throw down even more high-density/quality, affordable housing for sale.
repeat until everyone has a home
It’s like he’s begging for it
