A successful AI startup founder told me privately that although he endorses AI in public, he thinks it's all a bubble that will bring down the entire American economy when it pops. Do you agree?
>>106774030Wrong board, this isn't a tech question.>it's all a bubbleWelcome to the 21st century.
>>106774030>Retard investors get overhyped about AI>Hmm… if I make an AI thing I can get the retard money for nothing>What if I buy in, and join the retards too. I’m respected, so if I get in on it, then others will think it’s not just a bunch of retards>Even better, other smart people will be thinking the same thing I am>Free money scam with no consequencesYeah, no shit. The US economy is a giant, unending cycle of cope that exists to steal the money of the gullible and trusting. Just ride the S&P500 with whatever extra cash you have lying around and cash out when it’s popped. As long as you aren’t a slow dipshit you’ll make some gains at the very least. Whether it’ll matter given the AI hype bubble is the literal only thing letting the US pretend it’s not in a horrid recession and is losing ground, who knows. You can either be principled (and not make money on something that is a scam) or make money (knowing that the fact the bubble exists means your opinion isn’t going to do shit, and the least you can do is get in on the Ponzi scheme).
>>106774030>bring down the entire American economy when it popsUnlike in the housing market crash, AI doesn't actually exist, that is during the housing crash there were houses.If the VC whatever grift is going on with "AI" falls flat, what exactly would it effect?
>>106774030its hardly a secret at this point
>>106774030even sam altman says as much
>>106774311>just 100 more years!If these ai companies fail, others like Microsoft won't and will lose as much money as they want basically forever. Companies that have replaced real employees with ai gen code already are fucked though
>>106774301Everyone tied into the stock market could lose 80% of their net worth.
>>106774030>thinks it's all a bubbletrue>bring down the entire American economy when it popsnah
>>106774366Define "everyone"? I wouldn't. And that's not what net worth means.
>>106774364>Companies that have replaced real employees with ai gen code already are fucked thoughgoodmaybe tech companies will finally employ ceos with a technical background instead of pretty much all of them being marketing people
>>106774311As someone who already worked at a startup, let me explain something.When a company says they raise up to 40B in funding, this usually means they sign a paper in which some kike offers 40B over 10 years, but they need to spend this money in ways he wants.Like, straight up buy 100M in ads from his own marketing company or even acquire a bigger company that he owns that is going under, and he doesn't want to blur his image or have to deal with firing 100 people with high-paying jobs.It's hilarious how retarded those fundings are. You are literally giving away a part of your company for nothing, just to brag about how much it's valued.
It's just the latest bubble out of the dozens of bubbles
>>106774411This is unironically how Warren Buffett stays ahead of the game for so long, by avoiding this shell game bullshit.
>>106774376Anyone with a 401k, or that works for a company that is tied to the stock market (whether it be traded itself or provides services to a publicly traded company, or provides services to people who work for a publicly traded company).Suddenly, those companies have no money anymore, so they fire a bunch of people, at the same time a bunch of other companies are all firing people. Those people have simultaneously lost a significant amount of their 401k and any investments they may have. Depending on their savings setup, those may have been exposed as well. So, a significant number of people are no longer working, a significant number of companies can no longer hire (or are firing). From there, those people can: no longer afford mortgages, no longer afford the services that otherwise unrelated companies offer, can no longer make payments on debt. Following the chain onwards, you get a domino effect, where prices go up as companies try to compensate for lost customers, and more and more people keep losing their jobs as businesses fold under the pressure. It ends one of two ways, either you leave it until enough businesses fold that only those that were robustly solvent are left, and hope that you don’t just stagnate for the next 50 years, or you turn on the money printers to cushion the fall of the giants and get the market fizzing again.
>>106774563Sounds like imaginary value to me, and not real value.If companies are so tied into a gamble like that then they obviously don't produce anything of inherent value
>>106774590I agree, but the issue with it is enough people believe the imaginary value is real that it doesn’t really matter. Furthermore, the impact on actual people is kind of indiscriminate, it doesn’t matter whether you were screaming for years that it’s all bullshit, most people don’t that much of choice where they work, what insurance they have, and it becomes practically impossible to isolate yourself from being collateral as the great market fantasy falls apart. If anything, you get the worst of both worlds. You get none of the benefits of buying into the bullshit, and still have to suffer the downsides.
>>106774590Yep the US stopped producing long ago, it's all held aloft by shitloads of debt
>>106774030yeahbut what do i know lol
>>106774030Everything is a bubble especially in tech, but it works and people can't replace it or pop it, eternal inflation
