Plus everyone else that pays taxes as they will have to continue to pay for unemployment insurance, food stamps, rent assistance, etc (not the CEOs and execs that caused it that’s for sure).
And that’s why it’s being done. Everyone hopes that they make it out at just the right time to make millions while the greater fools who join too late are left holding the bag.
Bubbles are great. For those who make it out in time. They suck fo everyone else including the taxpayer who might have to bail out companies and investors.
Always following the doctrine of privatizing profits and socializing losses.
I get that people who sell AI-services wants to promote it. That part is obvious.
What I don’t get is how gullible the rest of society at large is. Take the norwegian digitalization minister, who says that 80% of the public sector shall use AI. Whatever that means.
Jared Diamond had a great take on this in “Collapse”. That there a countless examples of societies making awful decisions - because the decisionmakers are insulated from the consequences. On the contrary, they get short term gains.
I feel like literally everybody knew it was a bubble when it started expanding and everyone just kept pumping into it.
How many tech bubbles do we have to go through before we leave our lesson?
what lesson? it’s a ponzi scheme and whoever is the last holding the bag is the only one losing.
Plus everyone else that pays taxes as they will have to continue to pay for unemployment insurance, food stamps, rent assistance, etc (not the CEOs and execs that caused it that’s for sure).
And that’s why it’s being done. Everyone hopes that they make it out at just the right time to make millions while the greater fools who join too late are left holding the bag.
Bubbles are great. For those who make it out in time. They suck fo everyone else including the taxpayer who might have to bail out companies and investors.
Always following the doctrine of privatizing profits and socializing losses.
I get that people who sell AI-services wants to promote it. That part is obvious.
What I don’t get is how gullible the rest of society at large is. Take the norwegian digitalization minister, who says that 80% of the public sector shall use AI. Whatever that means.
Or building a gigantic fuckoff openai data centre, instead of new industry https://openai.com/nb-NO/index/introducing-stargate-norway/
Jared Diamond had a great take on this in “Collapse”. That there a countless examples of societies making awful decisions - because the decisionmakers are insulated from the consequences. On the contrary, they get short term gains.