These bonzos want the world economy to collapse so there will be massive layoffs, allowing them to offer AI bots to companies and governments to replace human workers.
Uh won’t this have the opposite effect? I can see an article like this in the near future:
“Companies marketing AI replacements for workers flounder after mass layoffs result in increasingly cheap, plentiful labor pool”
…the universe does not reward the strong any more than it does the weak…
Can it eliminate the work weak?
allowing them to offer AI bots to companies and governments to replace human workers
If that’s what he expects will happen then he is out of touch with AI and its capabilities. AI nowhere near being capable of completely replacing humans.
In fact the main reason for the AI bubble is because billions have been dumped into it expecting it will be capable of replacing humans, but all it’s really good at is making AI slop.
The only jobs it has kind of started replacing, but not really - more like transforming them - are software engineer jobs.
When the economy collapses, it will affect ALL businesses, and all kind of people will lose jobs, from software engineers to teachers to analysts. And none of those jobs can be fully replaced by AI, or it would have happened already.
Bezos is a fucking clown.
Yeah I keep saying the only thing our current AI is good at is coding, and even then its like someone with 3-4 YoE. Sure it knows a lot of languages and concepts, but often makes mistakes.
The last crash destroyed families and destroyed lifetimes of savings from the utter devastation of the fallout. My family never recovered and tragedy was the result. I know millions of families will never recover from that and there was no accountability at all. The occupy movement was a genuine working class movement against the criminal oligarchs who destroyed our economy. Unfortunately the book was thrown at the occupy movement and the well funded tea party movement and white nationalist movement was funded by the oligarchs and ignored by lawmakers. This all led to what we’re dealing with today. Families never recovered the cost of living keeps skyrocketing and we keep getting poorer. Unfortunately the correct counter movements get stamped out and the ones that blame minorities get funded and this is where we’re at today….we can’t move any further right we are at the end of the line. The oligarchs need us to fight eachother so they can justify the police state they’re building indefinitely. It’s like System of a Down said “they’re trying to build a prison for you and me to live in”
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A while back there was a tainted milk scandal in China that impacted tens of thousands of children for life and killed several.
Have you noticed it hasn’t happened again?
It seems that executions (of which there were several) and prosecution/jailing of wealthy company owners (of which there were many) do have a deterrent impact after all.
The Obama administration missed a real opportunity when they didn’t prosecute bankers
The fuck? Really?
I can’t figure out why. It is a mystery as fundamental as the ratio of the fundamental forces of the universe, we will never know.
Someone correct me if I’m wrong, but I believe that they did have to pay it back with interest…
Or maybe that was the auto bailout.
I was in none other than Lehman Brothers during the last Crash and thus in the aftermath, still inside the Finance Industry and armed with some understanding of how that Industry worked, keenly observed both what the Obama Administration did and what the Cameron Government did (I was in the UK), and the Obama Administration very much did everything the bankers wanted and then some.
This wasn’t merely a refraining to doing a few things, this was activelly working with the very people who caused the Crash to make sure they were fine (in many cases, even better than before) after the Crash. It’s not by chance that all over the World (but more so in the US and UK) Asset Owners came back even wealthier than before whilst people whose income came from Work kept seeing their lot get progressively worse for at least a decade (in the UK, for example, years after the Crash, incomes of the top 10% by wealth of the population were going up in real terms 23% a year, whilst the rest saw their real terms income fall by 1.9% per year).
The actions of the Obama Administration are what’s behind the complete halt of Social Mobility in the US (which used to have more Social Mobility than Europe) and the current problems of poverty at the lower end of the social scale there, which in turn helped the rise of Far-Right Populism in the form of Trump.
Obama’s reaction to Occupy Wall Street wasn’t a “oopsie”, it was fully consistent with the kind of policies he was enacting, the section of society he chose to help and the sections of society he chose to sacrifice to fund that help, since he got elected and started tackling the consequences of the Crash.
I too had hopes about Obama, but seeing the choices he made, many going far, far (FAR) beyond what was necessary to protect the broader Economy (in some case actually sacrificing the future of the many to make sure the few did not at all saw their wealth go down) dispelled that hope and any illusions I had about him.
i dont think we truly recovered from the 08 crash to begin with, we just truncated it to something else. terms of job-wise yea it gotten harder since that time.
Agreed a most of the jobs created do not pay a living wage while cost of living skyrockets
Well said. However, at this point I think they’ve already built the prison, and we’re already living in it.
True. It’s an old song
I Sometimes wonder why we actually listen to them at all?
Of course he’d say something like that, because he has literally nothing to worry about.
When it’s the big guys fucking up, it’s us footing the bill.
We’re subsidizing the building and operation of the data centers to take our jobs too.
It’s like he’s begging for it
Bezos needs to be reminded his flesh is as soft and squishy as the the rest of the weak.
Another day in the age of the dystopia plutocrats.
And for every Amazon there will be hundreds of 800.com’s
https://www.computerworld.com/article/1364563/electronics-retailer-800-com-shuts-down.html
I don’t think arrogance is the right strategy to deal with economic bubbles. With that said, I fully support Amazon’s arrogance in the face of AI Bubble because they have it coming.
Except that it won’t eliminate anyone because they will all get a federal bailout.
Are you talking about the AI / big tech companies? No they won’t.
Of course they fucking will
It doesn’t make any sense for them to do that. Maybe because of corruption. But there’s a complete lack of any good business reason to be bailing out those slop companies.
I imagine they’re referencing the 2008 precedence, although that was banks. But these tech companies are now ‘worth more’ than the banks so they may be considered ‘too big to fail’. Wiki entry for 2008 bailout: Bailout Link
I don’t think big tech that does stuff besides just AI (Google, Meta) will go bankrupt when the AI bubble busts. The AI-only tech companies though (OpenAI, Anthropic, …) - I guess we’ll see. I’m pretty sure many of those will die.
they are probably expecting trump to bail them out.
My fellow traveler in Christ, the feds have already invested 8.9 billion to keep Intel from suffocating to death in its own farts
Intel actually makes stuff that gets used. OpenAI just spends billions upon billions of dollars for a solution in search of a problem to solve. It has to be shoved into everyone’s faces because someone has to start needing it, but no-one really does. The total revenue of all generative AI is the size of - brace yourself - the smartwatch market.
Okay? And your point is
You say Big Tech isn’t going to get bailed out during this AI bubble, they already are!
I’m saying that companies whose sole focus is generative AI will not be bailed out by the US government.
That’s not what you said at all buddy
👍
I can’t wait for the purge of the billionaire class.
Even better. The AI Bubble bursting may be good because it may finally wake people the fuck up as to how utterly god-damned stupid their ruling class is and eliminate them.
Lol just like we did the last time. And the time before that. And the time before that. And…
