▲ 708 ▼ 'At some point you've got to make money': Goldman's top AI skeptic warns the clock is running out ahead of OpenAI and Anthropic IPOs (fortune.com) submitted 4 months ago by sanitation@lemmy.today to c/technology@lemmy.world 147 comments fedilink hide all child comments
[–] OldQWERTYbastard@lemmy.dbzer0.com 96 points 4 months ago (9 children) I want to see everyone hop on the IPOs and ride them all the way down to the floor! Fuck AI permalink fedilink source hideshow 9 child comments replies: [–] cmbabul@slrpnk.net 28 points 4 months ago (7 children) If I wasn’t convinced the entire financial system was fraudulent I would be shorting the fuck out of all of them permalink fedilink source parent hideshow 7 child comments replies: [–] ImgurRefugee114@reddthat.com 35 points 4 months ago (6 children) "The market can remain irrational longer than you can remain solvent" permalink fedilink source parent hideshow 6 child comments replies: [–] redditmademedoit@piefed.zip 9 points 4 months ago We'll burn more and more coal to power air conditioners to deal with unbearable global warming until that's no longer possible. The financial markets are the same. No reasonable person believes any of this is sane or sustainable. But what happens when the music stops? Very few chairs. permalink fedilink source parent [–] BeatTakeshi@lemmy.world 7 points 4 months ago (4 children) Especially since Nvidia has reached the "too big to fail" level; guess who's gonna pay again for the upcoming crisis? permalink fedilink source parent hideshow 4 child comments replies: [–] acockworkorange@mander.xyz 1 point 4 months ago (3 children) Source? Not doubting you, just would like to know the criteria. permalink fedilink source parent hideshow 3 child comments replies: [–] dangrousperson@feddit.org 4 points 4 months ago (2 children) There isn't a completely objective criteria, from Wikipedia: Federal Reserve Chair Ben Bernanke also defined the term in 2010: "A too-big-to-fail firm is one whose size, complexity, interconnectedness, and critical functions are such that, should the firm go unexpectedly into liquidation, the rest of the financial system and the economy would face severe adverse consequences." NVIDIA currently makes up nearly 7.5% of the S&P 500 (not to mention that they have invested a lot in the other companies and those companies have invested in NVIDIA). If they were to suddenly be liquidated I'd say that would cause 'severe adverse consequences' to the economy. And it would likely cause a ripple to other tech companies, which which make up roughly 1/3 of the entire US stock market. permalink fedilink source parent hideshow 2 child comments replies: [–] acockworkorange@mander.xyz 2 points 4 months ago Thanks, especially for the figures, that helped a lot. permalink fedilink source parent [–] BeatTakeshi@lemmy.world 2 points 4 months ago Thank you indeed. On my side I only remembered the news back in November that nvidia weighted 16% of the US GDP. Now of course comparing valuation and GDP is not really meaningful but the idea stuck. permalink fedilink source parent [–] Vex_Detrause@lemmy.ca 5 points 4 months ago I think investments, 401Ks and retirement funds will hop on SpaceX and AI and the mass will complain for a bit until the next news cycle. permalink fedilink source parent
[–] cmbabul@slrpnk.net 28 points 4 months ago (7 children) If I wasn’t convinced the entire financial system was fraudulent I would be shorting the fuck out of all of them permalink fedilink source parent hideshow 7 child comments replies: [–] ImgurRefugee114@reddthat.com 35 points 4 months ago (6 children) "The market can remain irrational longer than you can remain solvent" permalink fedilink source parent hideshow 6 child comments replies: [–] redditmademedoit@piefed.zip 9 points 4 months ago We'll burn more and more coal to power air conditioners to deal with unbearable global warming until that's no longer possible. The financial markets are the same. No reasonable person believes any of this is sane or sustainable. But what happens when the music stops? Very few chairs. permalink fedilink source parent [–] BeatTakeshi@lemmy.world 7 points 4 months ago (4 children) Especially since Nvidia has reached the "too big to fail" level; guess who's gonna pay again for the upcoming crisis? permalink fedilink source parent hideshow 4 child comments replies: [–] acockworkorange@mander.xyz 1 point 4 months ago (3 children) Source? Not doubting you, just would like to know the criteria. permalink fedilink source parent hideshow 3 child comments replies: [–] dangrousperson@feddit.org 4 points 4 months ago (2 children) There isn't a completely objective criteria, from Wikipedia: Federal Reserve Chair Ben Bernanke also defined the term in 2010: "A too-big-to-fail firm is one whose size, complexity, interconnectedness, and critical functions are such that, should the firm go unexpectedly into liquidation, the rest of the financial system and the economy would face severe adverse consequences." NVIDIA currently makes up nearly 7.5% of the S&P 500 (not to mention that they have invested a lot in the other companies and those companies have invested in NVIDIA). If they were to suddenly be liquidated I'd say that would cause 'severe adverse consequences' to the economy. And it would likely cause a ripple to other tech companies, which which make up roughly 1/3 of the entire US stock market. permalink fedilink source parent hideshow 2 child comments replies: [–] acockworkorange@mander.xyz 2 points 4 months ago Thanks, especially for the figures, that helped a lot. permalink fedilink source parent [–] BeatTakeshi@lemmy.world 2 points 4 months ago Thank you indeed. On my side I only remembered the news back in November that nvidia weighted 16% of the US GDP. Now of course comparing valuation and GDP is not really meaningful but the idea stuck. permalink fedilink source parent
[–] ImgurRefugee114@reddthat.com 35 points 4 months ago (6 children) "The market can remain irrational longer than you can remain solvent" permalink fedilink source parent hideshow 6 child comments replies: [–] redditmademedoit@piefed.zip 9 points 4 months ago We'll burn more and more coal to power air conditioners to deal with unbearable global warming until that's no longer possible. The financial markets are the same. No reasonable person believes any of this is sane or sustainable. But what happens when the music stops? Very few chairs. permalink fedilink source parent [–] BeatTakeshi@lemmy.world 7 points 4 months ago (4 children) Especially since Nvidia has reached the "too big to fail" level; guess who's gonna pay again for the upcoming crisis? permalink fedilink source parent hideshow 4 child comments replies: [–] acockworkorange@mander.xyz 1 point 4 months ago (3 children) Source? Not doubting you, just would like to know the criteria. permalink fedilink source parent hideshow 3 child comments replies: [–] dangrousperson@feddit.org 4 points 4 months ago (2 children) There isn't a completely objective criteria, from Wikipedia: Federal Reserve Chair Ben Bernanke also defined the term in 2010: "A too-big-to-fail firm is one whose size, complexity, interconnectedness, and critical functions are such that, should the firm go unexpectedly into liquidation, the rest of the financial system and the economy would face severe adverse consequences." NVIDIA currently makes up nearly 7.5% of the S&P 500 (not to mention that they have invested a lot in the other companies and those companies have invested in NVIDIA). If they were to suddenly be liquidated I'd say that would cause 'severe adverse consequences' to the economy. And it would likely cause a ripple to other tech companies, which which make up roughly 1/3 of the entire US stock market. permalink fedilink source parent hideshow 2 child comments replies: [–] acockworkorange@mander.xyz 2 points 4 months ago Thanks, especially for the figures, that helped a lot. permalink fedilink source parent [–] BeatTakeshi@lemmy.world 2 points 4 months ago Thank you indeed. On my side I only remembered the news back in November that nvidia weighted 16% of the US GDP. Now of course comparing valuation and GDP is not really meaningful but the idea stuck. permalink fedilink source parent
[–] redditmademedoit@piefed.zip 9 points 4 months ago We'll burn more and more coal to power air conditioners to deal with unbearable global warming until that's no longer possible. The financial markets are the same. No reasonable person believes any of this is sane or sustainable. But what happens when the music stops? Very few chairs. permalink fedilink source parent
[–] BeatTakeshi@lemmy.world 7 points 4 months ago (4 children) Especially since Nvidia has reached the "too big to fail" level; guess who's gonna pay again for the upcoming crisis? permalink fedilink source parent hideshow 4 child comments replies: [–] acockworkorange@mander.xyz 1 point 4 months ago (3 children) Source? Not doubting you, just would like to know the criteria. permalink fedilink source parent hideshow 3 child comments replies: [–] dangrousperson@feddit.org 4 points 4 months ago (2 children) There isn't a completely objective criteria, from Wikipedia: Federal Reserve Chair Ben Bernanke also defined the term in 2010: "A too-big-to-fail firm is one whose size, complexity, interconnectedness, and critical functions are such that, should the firm go unexpectedly into liquidation, the rest of the financial system and the economy would face severe adverse consequences." NVIDIA currently makes up nearly 7.5% of the S&P 500 (not to mention that they have invested a lot in the other companies and those companies have invested in NVIDIA). If they were to suddenly be liquidated I'd say that would cause 'severe adverse consequences' to the economy. And it would likely cause a ripple to other tech companies, which which make up roughly 1/3 of the entire US stock market. permalink fedilink source parent hideshow 2 child comments replies: [–] acockworkorange@mander.xyz 2 points 4 months ago Thanks, especially for the figures, that helped a lot. permalink fedilink source parent [–] BeatTakeshi@lemmy.world 2 points 4 months ago Thank you indeed. On my side I only remembered the news back in November that nvidia weighted 16% of the US GDP. Now of course comparing valuation and GDP is not really meaningful but the idea stuck. permalink fedilink source parent
[–] acockworkorange@mander.xyz 1 point 4 months ago (3 children) Source? Not doubting you, just would like to know the criteria. permalink fedilink source parent hideshow 3 child comments replies: [–] dangrousperson@feddit.org 4 points 4 months ago (2 children) There isn't a completely objective criteria, from Wikipedia: Federal Reserve Chair Ben Bernanke also defined the term in 2010: "A too-big-to-fail firm is one whose size, complexity, interconnectedness, and critical functions are such that, should the firm go unexpectedly into liquidation, the rest of the financial system and the economy would face severe adverse consequences." NVIDIA currently makes up nearly 7.5% of the S&P 500 (not to mention that they have invested a lot in the other companies and those companies have invested in NVIDIA). If they were to suddenly be liquidated I'd say that would cause 'severe adverse consequences' to the economy. And it would likely cause a ripple to other tech companies, which which make up roughly 1/3 of the entire US stock market. permalink fedilink source parent hideshow 2 child comments replies: [–] acockworkorange@mander.xyz 2 points 4 months ago Thanks, especially for the figures, that helped a lot. permalink fedilink source parent [–] BeatTakeshi@lemmy.world 2 points 4 months ago Thank you indeed. On my side I only remembered the news back in November that nvidia weighted 16% of the US GDP. Now of course comparing valuation and GDP is not really meaningful but the idea stuck. permalink fedilink source parent
[–] dangrousperson@feddit.org 4 points 4 months ago (2 children) There isn't a completely objective criteria, from Wikipedia: Federal Reserve Chair Ben Bernanke also defined the term in 2010: "A too-big-to-fail firm is one whose size, complexity, interconnectedness, and critical functions are such that, should the firm go unexpectedly into liquidation, the rest of the financial system and the economy would face severe adverse consequences." NVIDIA currently makes up nearly 7.5% of the S&P 500 (not to mention that they have invested a lot in the other companies and those companies have invested in NVIDIA). If they were to suddenly be liquidated I'd say that would cause 'severe adverse consequences' to the economy. And it would likely cause a ripple to other tech companies, which which make up roughly 1/3 of the entire US stock market. permalink fedilink source parent hideshow 2 child comments replies: [–] acockworkorange@mander.xyz 2 points 4 months ago Thanks, especially for the figures, that helped a lot. permalink fedilink source parent [–] BeatTakeshi@lemmy.world 2 points 4 months ago Thank you indeed. On my side I only remembered the news back in November that nvidia weighted 16% of the US GDP. Now of course comparing valuation and GDP is not really meaningful but the idea stuck. permalink fedilink source parent
[–] acockworkorange@mander.xyz 2 points 4 months ago Thanks, especially for the figures, that helped a lot. permalink fedilink source parent
[–] BeatTakeshi@lemmy.world 2 points 4 months ago Thank you indeed. On my side I only remembered the news back in November that nvidia weighted 16% of the US GDP. Now of course comparing valuation and GDP is not really meaningful but the idea stuck. permalink fedilink source parent
[–] Vex_Detrause@lemmy.ca 5 points 4 months ago I think investments, 401Ks and retirement funds will hop on SpaceX and AI and the mass will complain for a bit until the next news cycle. permalink fedilink source parent