slaacaa comments on "So, you're saying a third of the stock market is tied up in seven AI companies that have no way to become profitable and that this is a bubble that's going to burst...?"

"So, you're saying a third of the stock market is tied up in seven AI companies that have no way to become profitable and that this is a bubble that's going to burst...?" (pluralistic.net)

submitted 1 year ago by sundray@lemmus.org to c/fuck_ai@lemmy.world

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CWs: Cory Doctorow, newsletter, mentions of his upcoming book that he's selling.

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[–] slaacaa@lemmy.world 17 points 1 year ago (5 children)

US taxpayes will be proud to carry this burden, as always.

Privatize profits, socialize losses. The American (and thus global) way

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[–] princessnorah@lemmy.blahaj.zone 5 points 1 year ago*

the american exceptionalism reeks with this* one

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[–] Knock_Knock_Lemmy_In@lemmy.world 4 points 1 year ago (3 children)

I could understand the arguments about banks being too big to fail, because normal people and businesses have their money tied up in them.

But is Meta too big to fail? Are any of the tech giants too big to fail? Let them.

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[–] Valmond@lemmy.world 3 points 1 year ago

Especially after the 2008 debacle.

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[+] KingArnulf@lemmy.world 2 points 1 year ago* (last edited 11 months ago)

[deleted]

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[–] atrielienz@lemmy.world 1 point 1 year ago

When you look at how the stock market works and who invests in it, yes it is too big to fail. We have moved away from companies providing pensions to retirees.

What we moved to us stuff like IRAs and 401K's. Occasionally you'll see an SEP. But what you have to understand about that is a lot of the general public's retirement savings are accruing value by being invested in the stock market.

I know that a lot of media portrays this as a thing that makes it seem pretty farfetched but the stock market and most of the commodities traded there are too big to fail because their profitability and stock price is what the US retirement system (if you can call it that) is based on.

Even social security is invested in the stock market. A lot of people don't think they're investing anything in the stock market and therefore crashes, dips, and even the bankruptcy of publicly traded companies doesn't effect them. They're not usually right about that.

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