▲ 538 ▼ 'Big Short' Investor Expects AI Bubble Burst 'Sooner Than Later' (gizmodo.com) submitted 1 week ago by return2ozma@lemmy.world to c/technology@lemmy.world 208 comments fedilink hide all child comments
[–] danc4498@lemmy.world 31 points 1 week ago (3 children) It'll only hurt us. The rich will profit heavily. permalink fedilink source parent hideshow 3 child comments replies: [–] TootSweet@lemmy.world 59 points 1 week ago* Yeah, but if the bubble lasts longer it'll hurt us more when it does collapse. Plus we'll have to deal with more clanker bullshit in more of our daily lives for longer if it takes a long time for it to collapse. permalink fedilink source parent [–] schipelblorp@sh.itjust.works 31 points 1 week ago* (last edited 1 week ago) Are you talking about the collapse of the AI bubble hurting us? I mean, sure, but what's the alternative? There isn't one. The sooner it pops, the more money that will be available to develop businesses that can grow the economy. Right AI is gobbling up investment capital and driving up the interest rates and inflation of the price of tech hw is stunting consumer and business tech, contributing to overall inflation, and making actual products people want to buy more expensive, ie less sold... I'd like to say that this economic collapse could not have come at a worse time, but I think bubbles like this are only possible when markets are no longer competitive, everyone is broke as shit, and people have to invent fantasies to make investors think line will go up. Edit: Oh, and I just thought of a REALLY big benefit of an early pop: people's retirements will be less exposed to AI-first and AI-only companies which are almost guaranteed to fail. If OpenAI raises 2 trillion, it's going to be getting a lot of that from institutional investors investing other people's money. permalink fedilink source parent [+] kestrel7_7@lemmy.world 1 point 1 week ago [deleted] permalink fedilink source parent
[–] TootSweet@lemmy.world 59 points 1 week ago* Yeah, but if the bubble lasts longer it'll hurt us more when it does collapse. Plus we'll have to deal with more clanker bullshit in more of our daily lives for longer if it takes a long time for it to collapse. permalink fedilink source parent
[–] schipelblorp@sh.itjust.works 31 points 1 week ago* (last edited 1 week ago) Are you talking about the collapse of the AI bubble hurting us? I mean, sure, but what's the alternative? There isn't one. The sooner it pops, the more money that will be available to develop businesses that can grow the economy. Right AI is gobbling up investment capital and driving up the interest rates and inflation of the price of tech hw is stunting consumer and business tech, contributing to overall inflation, and making actual products people want to buy more expensive, ie less sold... I'd like to say that this economic collapse could not have come at a worse time, but I think bubbles like this are only possible when markets are no longer competitive, everyone is broke as shit, and people have to invent fantasies to make investors think line will go up. Edit: Oh, and I just thought of a REALLY big benefit of an early pop: people's retirements will be less exposed to AI-first and AI-only companies which are almost guaranteed to fail. If OpenAI raises 2 trillion, it's going to be getting a lot of that from institutional investors investing other people's money. permalink fedilink source parent