This is a most excellent place for technology news and articles.
For those of you cheering for the AI bubble to pop...
AI investments now accounts for about 40% of the United States’ GDP growth in 2025, and AI companies are responsible for 80% of growth in American stocks.
...are you not scared shitless?
This is not the dotcom bust, and it's far fucking worse than the 2008 housing crisis. And to think when I was young the Savings and Loan crisis was a big deal. We're on the edge of Great Depression 2.0.
Are you not scared shitless?
No.
I'm too fucking stupid.
It would be interesting to know how many resources this growth has taken from others places...
As for now it don't seems that AI has generated a profit for the companies that bring it to the market and it seems it will not do it even in the near future, so I assume the question is: how many years can your economy be sustained by a sector that is not generating any revenue and is absorbing a monstrous amount of resources ?
We are not talking about a single company (like Amazon back at the time), do you really think that even when Ai will start (if ever) to generate profits these will be able to repay all the investements done today ?
Serious question: what if I am, and have no idea how to prep for it?
My pension and other things are tied up in stocks and such, if there's a crash coming I'd think cash under the pillow would be better than stocks. But how do you do that, with your pension?
I moved the majority of my 401k allocations to international markets and have stopped contributing more than the match minimum. I've lost on some serious short term gains but I'm not risking holding the bag with my kid's future.
...are you not scared shitless?
the longer the bubble keeps going, the worse it will be... those of us convinced this is already a massive bubble believe the best time for it to pop was yesterday, the next best time is right now
What? For my third once-in-a-lifetime economic crisis? There's no way this isn't going to suck. We're all doomed no matter what.
You have no clue what "doomed" means if you think what's coming compares to anything since the Great Depression and WWII.
There weren't any nuclear weapons on earth in 1930.
I personally prefer to rip off the band aid than let it stink and get it infected. I'm scared for the time remaining before the pop. This shit is intolerable. Let it "pop". Let it burn.
We're fucked. No point being scared of something we have no control over. A few rich men will come out of this ahead, and the rest of us will fight over the scraps, lose our homes, and starve. 🤷♂️
Oh no, we won’t be able to afford houses or rent or save for retirement or- hang on just a second…
Wait, we already can’t do those things, and the last thing I want to do is, once again, validate the existence of people I would prefer to see in little pieces scattered all over the street for all the pain and suffering they’ve caused just to get a little more money on top of their billions.
Guessing you have no idea what the Great Depression was like. My parents grew up in it.
Great Depression: 30% unemployment
2008 crisis: 4.2% economic contraction
If you think modern America is bad now, boy oh boy, you're about to get an education on how bad it can really get.
You are right, but you are comparing apples with oranges here, what was the Great Depression economy contraction ? Or what was the unemployment rates in 2008 ?
Unemployment around the 2008 crisis peaked around 10%.
You're delusional if you think the 2008 recession remotely compares to the impact of the great depression. You just have 0 frame of reference to compare. I say that as part of the most impacted group: I was just getting out of college when that crashed and it killed my job opportunities.
I don't think it, I was only pointing out that he was comparing two different things.
I know that there is no way the two events have a compatible frame of reference but that does not means that you can compare the two values.
Nvidia announced that it would invest $100 billion into OpenAI, OpenAI announced that it would pay $300 billion to Oracle for computing power, and Oracle announced it would buy $40 billion worth of chips from Nvidia.
I can't help but feel like we both just ate shit for nothing." "That's not true", responded the second economist. "We increased the GDP by $200!"
Except the way it actually works is Larry, Jensen, and Sam keep the money while the rest of us eat shit.
I could care less about the immediate “no” answer to the clickbait headline, but the real question posited by the article is “when is it going to stop, since it is clear that this is all hype and nothing more?”
How does one short this clearly impending financial disaster? Assuming that realistically it cannot go on forever, and that when it crashes it doesnt take the entire world economy with it. Although that is surely possible as well, in which case shorting anything would be a waste of time. But seriously, I dont see how more and more on wall street arent taking aim at the biggest hype bubble the world has ever seen
Also, secondly, why the fuck is Ted Cruz on stage in this photo?
Just remember, the market can remain irrational longer than you can remain solvent. Unless you happen to be a billionaire.
Look I'm ready to see people come to their senses about this "AI" crap, but the answer is no.
First thing I thought of after reading it.
Is Betteridge's law ever wrong?
No.
no.
Any article that asks a yes/no question is always 'no.'
ah, that makes sense
