This is a most excellent place for technology news and articles.
The economy has not been good since the 70's and I wish economists would collectively pull their heads out of their asses and stop towing the line of the ones in charge.
What you or I experience is completely decoupled from the stock market, or the GDP, and has been forever.
As a person who is studying economics, I agree with you on this
It’s time for progressive socio economics
economy of paid subscriptions needs to die. ☑️
I agree, I deleted almost every app that has a subscription
If the apps have a pay once and buy once option then I keep and don’t delete
I can burst it quick if I invest in Nvidia and AMD.
AMD is an industry leader with a huge economic moat and I think they will be okay when the bubble pops. I'm not sure about Nvidia though, despite having superb chips, because the problem is they loaned to companies to buy their chips. So, Nvidia's finances will be strained because Jensen Huang created a ponzi scheme that could not repay or be profitable to itself.
Not really a ponzi, more like circular financing. Nvidia exposed itself to the AI bust for no reason other than to keep the money flowing to buy their chips for a little longer. They were selling shovels in a gold rush and screwed it up by letting people finance the shovels. They're not in the finance business, they're in the chip business.
nvidia gives a trillion dollars to AI, AI buys a trillion dollars of future, currently unmade video cards to run the AI, nvidia gives AI another trillion dollars, AI buys another trillion dollars of unmade future cards, etc etc etc.
Its the biggest, highest energy economic ouroborus I've ever seen.
I cant see how nvidia survives the pop, and quite frankly, I'd be glad to see nvidia die. its been dragging the GPU market in bad directions for a decade+ now and I think it'd be better to be free of its influence.. and it'd open the door to new players to step up and competition again.
I’m usually a rationalist but nothing can convince me that Sod’s Law isn’t somehow baked into the structure of the universe.
could, you mean will. when that happens all those tech people in AI will likely be first to be laid off, the first signs would be the sudden evaporation of AI tech conferences in many hubs,. and all those catering companies, food companies that depend on these conferences is going to hurt too.
AI isn't going away just like dotcom companies didn't go away. They are in for a steep hair cut though and many companies will not survive.
That’s the point. AI was never meant to succeed. It’s a ransom. They are willing to kill the hostages so to speak.
Listen, I work IT at a managed service provider, which means I see a dozen + small to medium business environments daily.
The number of users that I know of, out of the hundreds or thousands that I support, who are actively using "AI" continually to do their jobs... Well, I can likely count them on one hand
There's a bunch that use whatever free tool they are allowed to access. Which kind of flies under the radar for me, but I still don't think you're dealing with double-digit percentages of people using "AI" that actually spend any money on it.
And these are business users, who work at businesses with rather deep pockets at times....
People are not buying the product. "AI" in the business world, isn't making any money. So from what I've seen, this is less a matter of if, and more a matter of when and how bad.
As a tech person, I am not threatened by AI. It can't do my job. Also, I'm the one who fixes it when things go wrong. And the only thing I'm looking forward to is being able to pick up cheap RAM, and storage when this all comes crashing down as AI companies cash out and liquidate their inventory. Maybe I can pick up a cheap AI server and repurpose it to be a 3D/gaming virtual desktop, so when my friends come over with their cheap laptops and on board graphics for a LAN party, I can just provision them a virtual gaming computer and we can go ham.....
I'm going to save my sheckles until then...
I have limited experience with the market but I see it this way: anyone with AI holdings should liquidate at their earliest convenience. I don't think they'll be keeping up this charade for a lot longer. Anyone who has tech holdings, either cash out, or be prepared to have that money held up for a while because it will take a long time for the prices to recover, and unless you want to cash out at a loss, you're going to be holding for a long time. Everyone else, hold onto your butts. Probably everything will probably dip when the fecal matter hits the rotary air movement device. Non tech areas of the market should recover pretty quickly, so meh?
This is obvious to me that the whole thing has failed. That realization hasn't hit execs yet.
So the top 7 companies hedged their entire futures on something unsustainable? In the last 12 months Oracle already laid off over 50,000 employees to bottom-line their AI goals (30,000 ish and 21,000ish a couple weeks ago).
Are we at the point of stocking up on materials and pulling $$ from banks for the inevitable collapse?
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?
I don't have any money. Crash away. Fuck it.
Same with the GFC, 2007. I was broke, and did not even notice.
If that's the thing that kills the economy, the economy deserves to be killed
Not could. It's a mathematical certainty that it will. Barring a breakthrough miracle -- fat chance.
It really feels like the options are:
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.
The scumbags are getting better at making sure they end up rich when it happens. The only important thing from their point of view.
When you got nothing, you got nothing to lose.
Bob Dylan
Dylan has more good advice here, when it comes to bubbles you don’t need a weatherman to know which way the wind blows!
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.
I bet they're just running as fast as they can, not caring about which direction as long as they are "ahead".
