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its considered acceptable to kill someone if they're trying to rob you. in america its considered rude to not use a gun.
I'm not sure how I feel about this. it usually feels disproportionate, but austerity and centralization have a very real death toll, so maybe it's not.
Let's see, Anthropic is about a trillion, OpenAI is about a trillion, AMD is about a trillion, SpaceX and Meta are two trillion each, Amazon is 3, Microsoft is 4, Google is 4, Nvidia is almost 6... So something on the magnitude of a $20 trillion bailout?
The USA budget is only a quarter of that. The entire federal budget.
This is going to be fucked, isn't it?
They’d have to incinerate Social Security, defund every school, let infrastructure rot, and hyper-inflate the dollar into worthlessness just to keep Wall Street’s AI bubble afloat... Which is beyond fucked.
Welcome back to life as a peasant.
Intel lost 29%, 29!!! FFS it's incredible!
Capitalize profits
Socialize losses
When things are going great, give everything to the rich ... when things eventually go badly, let the poor pay for everything. Why would the world want to hurt or take away the rich man's wealth?
Too big to fail. It’s Deja vu all over again.
But is it really?
Their IPO's are already socialising the debt they gathered, right into your stock portfolio/ retirement fund
And they'll get them. Because that's cruelest towards the people.
*billion
Well there were conversations that AI should be public..... Publicly bailed out by taxpayers with a negative return on investment.
Once again, the American middle class, or what's left of it, will be the ruling class's personal piggy bank.
With what? We have nothing left
Has that ever mattered?
Well, it makes it a nice bookend. After all, they got a bunch of taxpayer money to begin with, so it's only fair they get a bunch more at the end.
(Scummy, corporate welfare arseholes).
damn. maybe everyone involved in robbing us like this shouldn't be allowed to do that again.
Under any other administration I wouldn't believe such a thing would be a possibility. I can see Trump offering funds in exchange for relabeling products "Super AI".
America Intelligence
Who was in charge ehen banks came begging for money in 2008?
Also republicans
The difference is that the banks are actually necessary for the economy to function. And mitigations were put in place to limit that exposure in the future. Mitigations that have been stripped back again in recent years because of billionaire lobbying.
None of the AI companies are necessary for the economy. And the big players that stepped into the quagmire aren't over leveraged enough to actually be in danger. Only the AI-only companies are in danger. The mega corps like Meta, Microsoft, Google, etc. would be hurt but would survive just fine.
They're going to try to frame it as a national defense issue; like automotive companies are. My guess is they'd bail out SpaceX/xAI in exchange for personal enrichment if needed.
It’s actually the wealthy that would suffer if it goes tits up, and if things are actually changed to put the nation on a path to recovery. Think about Europe post ww2 and how fucked their infrastructure and economies were and what it took to rebuild within 3 generations to the point they were actually thriving comparatively. That took coming together and reinvesting in society, nations building. The wealthy don’t want to do that. But that’s what it would take to recover and restart the economy, because there is no flow to the bottom 98% anymore. The wealthy would have to willingly reboot it by going back to putting their fair share back into circulation and earmark it for rebuilding.
For better or worse, big banks are and were the backbone of the economy. AI is not and I think agree should not be.
Bush?
Well, at least we can always blame immigrants, poor people, and teachers for the financial collapse, just like last time.
Instead of occupying WS, what you think the chances are someone will test its, or silicon valley's, degree of combustibility?
I bet they were trying to become too "integrated" to fail.
I can't see them getting bailed out. That would be political suicide for either party. AI companies aren't creating jobs, they manufacture nothing (like autos) and they're not our financial backbone (like banks).
Would it still be political suicide if it was bipartisan? They'll make up a million stupid reasons, unleash their army of bots to promote it, and try the same thing Facebook did in 2016.
We'll be told that democrats and republicans both support bailouts, but that we have to support democrats because republicans worse. On a dwindling number of policies democrats never fight for.
They tech companies themselves likely won't get a bailout, but don't rule out the Fed warming up the ol' money printer. All the borrowing for data centers, where do you think they're borrowing from. Banks, insurance companies, bond investors and private credit funds. Those first two are the key. If a too-big-to-fail bank or insurance company gets jammed up by their own bad loans to hyperscalers, you best believe they're going to the Fed, hat in hand, asking for another bowl of that sweet, sweet quantitative easing.
Well crud. I hadn't seen that angle.
Yeah, my understanding is that once bankers have bet more of other people's pensions and life-savings than they can cover if they lose the bet, they are in line for a bailout.
In effect, the more catastrophic your bet is, the less personal responsibility you have to take for it.
One of the many hypocrisies and perverse incentives of capitalism.
That's anything but capitalism. Capitalism says if you fail you die. If that takes other people down, so be it. But bailouts were never supposed to be a thing.
In effect, the more catastrophic your bet is, the less personal responsibility you have to take for it.
"If you owe the bank $100, that's your problem. If you owe the bank $100 million, that's the bank's problem."
Needs to add if you owe the bank $1 Billion, then that's the governments problem.
An entire financial industry ruined by bad loans to a single market you say... Wait, I think I've seen this one....
Also there could be contagion to the big banks and institutional investors (think pension funds) from the bond sales and the construction loans for the data centers.
cough 2007 cough
What about all the major companies who have scraped their workforce to replace it with AI, so sure that it would pay off. They also can't afford for AI to go under, so they'll add to the "please bail us out" for the good of the economy.
They already have had trump rumbling that they are key to "national security". So clearly getting ready to bail them out.
Did my guy p-stews just deliver this blessing on his way out the door?
And they will get it
It's probably a pump and dump, those in the know probably sold high, they'll use it to convince board members to release more stocks or something then double down... Wait until the price bounces back and pull out more loans on an higher valuation.
They're masters of this type of financial trickery. I doubt the small fish crashing will bother the data center builders who are killing the planet and corrupting culture/society/politics.