A few months ago ago @pluralistic described the AI bubble thusly:
-
A few months ago ago @pluralistic described the AI bubble thusly:
"The collapse of the AI bubble is going to be ugly. Seven AI companies currently account for more than a third of the stock market, and they endlessly pass around the same $100b IOU."
I've been thinking of it as a check-kiting scam, but it's really simpler than that: it's a game of Hot Potato. Whoever has the IOU when the bubble pops loses the round. The rest scavenge the parts and then start shaking VC trees for the next round.
-
A few months ago ago @pluralistic described the AI bubble thusly:
"The collapse of the AI bubble is going to be ugly. Seven AI companies currently account for more than a third of the stock market, and they endlessly pass around the same $100b IOU."
I've been thinking of it as a check-kiting scam, but it's really simpler than that: it's a game of Hot Potato. Whoever has the IOU when the bubble pops loses the round. The rest scavenge the parts and then start shaking VC trees for the next round.
Of course, just like all the other crashes, it will turn out that no one with any wealth actually owns the debt, and so the price will be paid by many innocent people. So it goes.
-
Of course, just like all the other crashes, it will turn out that no one with any wealth actually owns the debt, and so the price will be paid by many innocent people. So it goes.
Endowments, 401Ks and Index funds
-
Of course, just like all the other crashes, it will turn out that no one with any wealth actually owns the debt, and so the price will be paid by many innocent people. So it goes.
This right here. None of the debt is *actually* going to be paid by the dipshits currently incurring it.
-
R relay@relay.an.exchange shared this topic
