>The American stock market is held up by the belief that artificial general intelligence will be ready and working within a year>Almost no researchers actually believe it's possible within the next few decadesSomething is up
>>61034705but AI already is saving companies insane amounts of money by>reducing workforce needs>enabling more efficient processes>enabling growth at scale you couldn't even achieve before due to financial constraints around laborIf the technology continues to improve we'll only see those benefits and others increase.That said, the more we lay off workers due to AI the quicker we'll see the ripple effects of an impoverished people on businesses which ultimately will destroy revenue and profits. Right now all the biggest companies are making tons off B2B while capital is still being invested en masse, and it doesn't matter that ultimately end consumer facing companies are struggling. But as those companies actually start to go out of business you'll see the SaaS companies starting to struggle and then that'll domino effect. The largest consumers of AWS starting to shut down servers, etc.We're not more than 10 years away from a genuine need for UBI, probably less.
AI is a dumb bubble but the pop is going to be good for us. We are rerouting too much money from useful industries to this shit and need to recalibrate.
>>61034744The mass tech layoffs that investors are trying to attribute to AI are because of the low interest rate environment in 2021 that caused literally millions of inexperienced "tech experts" to get $120,000 a year to sit at FaceBook all day and post TikToks about a day in the life.The impact AI has had on the labor market is only seen through the salaries of people hired by AI startups.
>>61034744You really think (((they))) will give us UBI? More likely they watch us starve and fight.
>>61034705dude the economy is cooked. pic realated.the only way to keep the party going is either1. AI that can replace ~25% of the workforceor2. Fusion
>>61034705yeah our economy is fake and gay
>>61034744>UBIlol, nope>being rounded up and sent to die in warthat's more like it
>>61034755It does seem like a sort of dutch disease.. But i think you underestimate the bubble, the entire subprime mortgage market was valued at ~½ trillion, OpenAI alone has that market value and that is just the tip of the iceberg.I read that the average REIT is ~20% datacenter, and datacenter is almost all chips and cooling aggregate.. Think about that, you buy some ETF dedicated to commercial real estate, and what you actually buy is 20% NVIDIA chips.
>>61034744Fuck off to europe with this commie bullshit. Useless people will die off, but i’m doing good.
>>61034744>We're not more than 10 years away from a genuine need for UBI, probably less.If people provide no value and isn't a threat, there is not gonna be breed and circuses. Why would there? Out of empathy, compassion? lmao..IF AI replace (most) human labour, it is natural that security/military/police labour will also be replaced. There is no genuine need to give people shit then, the pitch forks will be a joke.
>>61036665bread*
>>61034705Multiple industries went all in because they want to be on the cutting edge. The problem is, not a single one realized that not only can the tech not reliably do what they want it to do, but invested all this money while forgetting they'll have to pay more and more energy costs for AI. >https://finance.yahoo.com/news/800-billion-revenue-shortfall-threatens-010000322.htmlSome estimates have it that they'll need to make an additional 800 billion in consumer sales within about five years just to be like, barely profitable. Keep in mind, this year costumer purchases only got them like 12 billion or so. We're going to look at a truly horrific crash sometime soon.
>>61034744>We're not more than 10 years away from a genuine need for UBI, probably less.AI won't remove the existence of scarcity you retarded fucking nigger
