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All these built out data centers are going to be eye sores when they go bankrupt.
The Chinese and Indians are watching what is happening and busting their guts out laughing.
A genuine stock market collapse would be very interesting
The crash is going to be spectacular.
https://www.youtube.com/watch?v=VsE0BwQ3l8U&t=1492s
More of the same. I can’t wait to check out from society and specifically the tech world.
And yet, the MBAs continue to pump money into it like AI doesn’t fail to provide any value in 80% of their shoehorned implementations.
Everybody thinks they’ll be able to time their exits perfectly or near so, and it will be somebody else left holding the bag - in other words they’re ridding the bubble as high as it will take them but ready to jump off when it starts to wobble.
On past experience (having gone through 2 big crashes within the respective industries), the most professional of investors (such as Investment Banks) will probably manage it, the rest not so much, especially Retail Investors.
Even then some of the professionals will get nuked as well, frankly speaking it’s the cautious, experienced, and old who will handle this best those who have seen the previous ones in some way be it with their own eyes or through history who will get out.
It’s wild how many good uses of this tech there are, and how it’s mostly implemented in asinine ways, instead. It’s great for brainstorming. Not so great for customer fucking service.
80?
I feel like that number is way over 90, 95
Because it’s the only growth area. Speculators need to speculate. There’s money to be made on a bubble on the way up, and tons on the way down, as long as you time it right
Next bubble gonna be 64× ?
Good one 😂
quite an upgrade from the 32 bits
it’s going to be pretty cool when the USD is annihilated by this
they really boned themselves by concentrating all of it among themselves and basing its value off of fake proof of work factories
If the USD is annihilated the great depression will look like nothing. Breton Woods ended but America is still smack dab in the middle of everybody’s economy. It’s why no one is calling in their debt, but keep buying it. It’s a fucking global ponzi scheme.
Edit: I just looked it up and 88% of global currency trades involve the dollar.
Its the reserve currency of the world. The only thing that could replace it today is the yuan, which China is absolutely prepared for when that day comes.
The euro could also replace it, but would need additional changes from the governing body of the EU first as its meant to be an amalgamated currency and cant produce enough to be a reserve currency at the moment.
Neu-tronenbommenstickers op m’n nieuwe tas gaan plakken
Ya know I get tell this is some variant of a Germanic language but for the life of me all I’m seeing is the tongue of Rlyeh.
What about The BRICS currency that’s being worked on?
The rest of the world is unfortunately not immune to US problems. What inevitably happens is the bubble pops, the government prints money to bail out the gamblers who benefitted from the bubble, then insist on austerity for regular people to get the resulting inflation under control
Yeah, but if that wild money printing turns out to be the coup de grace on the status of the USD as the World’s Reserve Currency, it will just make things worse as such an event comes with its own “bubble bursting” that will massively fuck up holders of USD (such as Americans, but also anybody who didn’t exit the USD on time).
The status of the USD as Reserve Currency is already pretty shaken as the EUR and other currencies have increasingly become part of the currency reserves in most countries, replacing the USD, and Trump’s antics have convinced other countries to accelerate their plans to move away from using the Dollar in international trade, most notably China.
The technique of printing lots of Dollars is nowhere as safe now as it was back when it was used to paper over the problems from the 2008 Crash.
Also depending on how bad the whole situation could get it could legit implode the federal government as a whole. I really don’t see the feds under Trump doing even the bare minimum that was Hoovers anti-depression policy which while the absolute minimum was enough to keep the states from effectively becoming completely autonomous, and even then California, Louisiana, and the Alaska territory were effectively independent in a lot of ways.
Bubble scientists need to adjust for inflation.
This is insanity.
The dotcom bubble produced Google and Amazon.
I guess, if you count surviving it and having less competition. What did 2008 produce? Besides a stock reset for the rich.
It was a completely different world having several different search engines. Felt like you were actually on a discovery path. These days Google funnels you into Amazon products listings.
Yeah the one thign ai consistrntly does well is return more targeted search results than a browser.
WAAAAY back in the day, search engines functioned like a complicated Yellow Pages with indexed results and explorable categories. They encouraged you to find unique websites and seek out new perspectives and ideas. It wasn’t sustainable due to the volume of websites people make, but it was fun.
Search engines have been hot garbage for a while. If AI can at least shake that up, it would at least provide some competition and reason for these companues to try and innovate something.
They received hundreds of billions of dollars in bailout funds. That really taught them a lesson!
Should have pulled themselves up by their bootstraps and saved for emergencies.
Maybe they ate less Avocado toast and that helped already.
The “too big to fail” banks used their bailout money to buy small and medium-sized banks that were struggling, increasing the market share of the already colossal banks that caused the disaster in the first place.
Also Beanz.
So, Fiat currency is going to shit the bed and be quickly replaced by the digital dollar Which will of course destabilize the world banking system.
The US will probably try to pay off its existing trillions in debts using the USD and causing massive inflation before replacing it with the digital dollar.
America clearly thinks it won’t matter, and it can be self-sufficient until it drives enough people into a digital currency, while ignoring the massive inflation caused on the USD.
I wouldn’t go as far as saying that all Fiat currency will suffer, but the USD’s status as the World’s Reserve Currency is definitely at risk and the effects of that are going to be massive, especially as all those excess dollars around the World rush back to the US causing massive inflation (in fact, the US seems to already have huge inflation judging by the price of essentials, it’s just not officially recognized).
However, for people to rush from that to Digital Currency would require people to trust Digital Currencies as a safe holder of value and effective trade token, which is almost the opposite of reality: after over a decade of scam after scam and massive volatility in that domain the overwhelmingly majority of people wouldn’t trust Digital Currencies even with the USD falling to half or even one third of its value, both because of the perception of trustworthiness of them and because such a fall, which would be massive and unheard of fall in the USD, is a common event in even the most stable of Digital Currencies, such as Bitcoin.
It seems to me that Digital Currencies are actually further away from being adopted as currencies now than they were a few years ago before all the scams and well-established perception as pretty much gambing tokens (or, in nicer terms, highly speculative investment vehicles).
People already mostly pay through mobile, cards, online, etc. The trust is already there. Digital currencies don’t have to be a cryptocurrency. A well-known institution like the federal reserve could issue a digital currency and provide assurances for stability of value as well as measures like the ability to roll back fraudulent transactions. Since it’s just a number in a database and not tied up in investments, you wouldn’t even need the FDIC since your account and the amount of money in your account will remain as long as the federal reserve is still around.
People already mostly pay through mobile, cards, online, etc in existing government backed currencies, using existing payment networks.
The hill that needs to be climbed for trust in truly digital currencies (rather that just the digital representation of existing currencies, which is already what we mainly have with fiat currencies in things like online banking and electronic payments) is far vaster than that “people are used to doing some things digitally hence would trust everything else digital” one-dimensional take on the subject you put forward - it requires trust in the currency itself as well as in the payments network itself, which are the difficult parts (just notice how hard it is to get away from VISA and Mastercard as payment networks),
Mind you, maybe a government backed digital currency would work (though if I remember it correctly Colombia’s attempt at that failed miserably) but that’s really just a variant of a fiat currency that’s fully digital and in practice fiat currencies are already mostly digital (most people’s money exists as entries on bank databases, most payments are 100% digital and do not involve physical cash in any way form or shape and in fact most money in circulation developed nations isn’t in physical form).
I mean, a government backed digital currency would indeed technically be a digital currency, though controlled by a government, same as fiat currency, hence technically it would also be a fiat currency.
Also aren’t digital currencies like, the opposite of useful as mediums of exchange? They cost money to transfer, take hours for a transfer to go through, and are volatile enough that that hours long window is enough for value to fluctuate that someone could be ahead or behind hundreds or thousands of dollars on the transactions before it’s even complete.
Yeah, I totally agree.
That’s part of the point I was trying to make when I said they were not seen as “an effective trade token”, but I ended up talking mostly out the lack of trust on them due to all the scams.
Winner takes it all, we need to pump MORE money into it.
/sI’m patiently waiting for the bubble to burst and buy shares from the few surviving companies at a steep discount. It’s cool to hate AI as it is now but there’s more promise to it than what it’s currently being used for to the annoyance of everyday people.
This is your brain on capitalism…
Wow, it looks just like the brain of someone who has abused aerosols!
