cross-posted from: https://lemmy.world/post/50104484
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- 22 days
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?
- 21 days
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.
- Assassassin@lemmy.dbzer0.comEnglish22 days
If that’s the thing that kills the economy, the economy deserves to be killed
- 🌸𝓯𝓵𝓸𝔀𝓮𝓻🌸@sh.itjust.worksEnglish22 days
Which economy? The billionaire economy of the normies economy?
- 🌸𝓯𝓵𝓸𝔀𝓮𝓻🌸@sh.itjust.worksEnglish22 days
ah, because the billionaires are going to suck the blood from the regular economy like a vampire to recover
- anomnom@sh.itjust.worksEnglish22 days
Recover? No they buy low and double their take (or 100x or whatever the ratio is at this point).
We’re doing trillionaires now don’t forget. Even though Elon might not be anymore, there will be others unless we get our act together.
- Atropos@lemmy.worldEnglish22 days
We will follow the billionaires into it economic hell. In solidarity of course.
Fuck, I wish we had a choice in this.
- P1nkman@lemmy.worldEnglish22 days
We could always make them feel like life is hell and death would be welcome, especially considering that they’re doing it to us., and they. Do. Not. Care.
- anomnom@sh.itjust.worksEnglish22 days
They can fuck all our pensions up for good and starve us. That’s what it took to start the French Revolution, this time it’s gonna be global though.
- ParlimentOfDoom@piefed.zipEnglish21 days
…you don’t remember 2008, do you? Mass layoffs, small businesses closing in droves, difficulty getting loans, new grads unable to get adequate jobs for years (half the millennial cohort is still behind due to it)
22 daysNo our federal government will spend billions to bail out whatever AI companies are favored by trump this week.
- 22 days
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.worldEnglish22 days
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.orgEnglish22 days
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.worldEnglish22 days
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?
- SGforce@lemmy.caEnglish22 days
That goalpost will soon switch to “well, this wasn’t the real ai anyway”
- ParlimentOfDoom@piefed.zipEnglish21 days
That was always the real goalpost. Any claims otherwise were just fraudulent marketing
- ParlimentOfDoom@piefed.zipEnglish21 days
These LLMs are not the type of AI that’s going to do the things they claim AI can do.
Yeah, when will people catch up on how they actually work (I’d put a “lol” here if it wasn’t so sad).
- Optional@lemmy.worldEnglish22 days
The stability of our economy depends on them quickly changing course.
Oh. Well.
- Phoenixz@lemmy.caEnglish21 days
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
- GreenKnight23@lemmy.worldEnglish21 days
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.
- Phoenixz@lemmy.caEnglish16 days
And it will just happen again. If you think the poor will rise up or something like that, then I have a bridge to sell you.
Do not underestimate the US propaganda apparatus
- GreenKnight23@lemmy.worldEnglish16 days
at this point I couldn’t care less if they do or not. humanity is fucked. we’re in a downward spiral heading for the poop chute.
- eleitl@lemmy.zipEnglish22 days
Not could. It’s a mathematical certainty that it will. Barring a breakthrough miracle – fat chance.
- NιƙƙιDιɱҽʂ@lemmy.worldEnglish21 days
One day we shall reclaim the sullied em dash for ourselves once and for all!
- CheeseNoodle@lemmy.worldEnglish21 days
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.
An AI breakthrough has nothing to do with LLMs, it’s like saying the auto industry will collapse except if there is an AI breakthrough that saves it.
- eleitl@lemmy.zipEnglish21 days
That’s what a breakthrough means. But obviously all the funding is burned up in more DCs with incremental iteration on the same design. So the bubble has to pop for real innovation. But I think this coming AI winter will be permanent, as things are very visibly falling apart.
Well yeah, but my statement is true anyways IMO. Deep neural networks are unchanged since the eighties I guess, and again IMO it’s not they who need/can have a breakthrough, doubly especially since nobody seems to be working on anything else than “bigger datasets” and profiling and such.
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.comEnglish22 days
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.zipEnglish22 days
The current everything bubble is too big to be bailed out. It will take down with it everything. Including the value of currency.
- Aceticon@lemmy.dbzer0.comEnglish22 days
If this one bursting ends the USD status as Reserve Currency, that would be great.
Painful, but in the mid and long term great.
- 19 days
Yeah, Same here honestly
That’s why I bought gold and silver
I bet they’re just running as fast as they can, not caring about which direction as long as they are “ahead”.
- wewbull@feddit.ukEnglish22 days
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.
- Phoenixz@lemmy.caEnglish21 days
Well, since all new protections from 2008 have already been shredded, what would you think?
- wewbull@feddit.ukEnglish20 days
If that’s true in the US, then god help you. I know they still exist in the UK.
- melfie@lemmy.zipEnglish22 days
I wonder if we will be able to get GPUs and RAM for reasonable prices afterwards.
- AdolfSchmitler@lemmy.worldEnglish21 days
I wonder if we’ll be able to get food at reasonable prices afterwards
Eh. I know how to hunt. I don’t know how to manufacture GPUs and RAM.
- 22 days
Yeah wow hey maybe you should have fucking listened to everyone who’s been saying that for goddamn YEARS.
- 18 days
Yeah, some of us don’t have much money to begin with lol
Nuka-cola is hard to come by here tho.
I’ve wondered … are the bottlecaps radioactive?
How does that work out when you have a pocketful next to your nuts?- Alexstarfire@lemmy.worldEnglish22 days
You joke, but you can buy it. Jones Soda makes it. That said, it’s not worth buying except to keep the bottles as collectibles.
In-game, no they aren’t radioactive. Most of the wasteland somehow isn’t radioactive enough to set off a gieger counter. Yet a lot of the fresh meat and produce are radioactive. Doesn’t make a whole lot of sense to me.
I quit drinking soda years ago as I got older and needed to cut shit that was making me fat.
I will (like every other year) occasionally have a Mountain Dew or a Sprite.
Soda is lovely stuff, but its definitely radioactive.Not played those games but to be fair in a nuclear wasteland you would expect fresh meat and vegetables to be more radioactive than the general environment. Animals and plants can accumulate radioactive fallout, if it’s diffuse in the soil it can be more concentrated in whatever lives off that soil. Radioactive contamination often consists of caesium-137 which behaves like potassium, and strontium-90 which behaves like calcium, so you’re getting screwed by conventional biochemistry as much as nuclear physics.
This is a concern in the Chernobyl exclusion zone even now, there’s mushrooms and other forage that must be avoided for this reason.
