2008 called. They want their huge bailouts back.
Comment on it keeps getting momentum
myfunnyaccountname@lemmy.zip 2 days ago
Was in a company wide meeting yesterday. The cto was talking about OpenAI being too big to fail.
Bytemeister@lemmy.world 2 days ago
laranis@lemmy.zip 2 days ago
The big guys will be fine. Your 401(k)? Fucked.
veni_vedi_veni@lemmy.world 2 days ago
OpenAI is small fry compared to the other AI players. They are the least likely to get a bailout.
This is actually a moment where “Thanks Obama” applies, what a precedence to set… Should have given the relief on the demand-side, not the fucking banks.
rumba@lemmy.zip 2 days ago
I have a take on that. I’m going with hank green on this one. youtu.be/jOR4wuiPeEQ
The entire US economy is being held up by the ultra-wealthy right now. We should be in a recession, but they’re pushing all the right buttons in all the right places to keep stocks where they need to be to keep running.
The AI bubble isn’t blindly bobbing around on the top waiting to pop, it’s orchestrated. Yes, it’s a bubble. Yes the stated value there isn’t anywhere near real. But it’s not going to pop until they let it. Investors are going to stay with it as long as they’re not scared of it going away and the ultra rich are using it as a vehicle to maintain wealth and unless they somehow screw up, it’s not going anywhere until they decide to do something different.
OpenAI isn’t too big to fail, but the Industry as a whole is too well-funded and tightly controlled to let it fail, for now.
Nangijala@feddit.dk 2 days ago
Stupid question, but since the world is currently falling over itself to make new business connections/alliances and is moving away from investing in the US economy because the clown president likes to threaten his allies, how long will the US economy last as the world slowly abandons America? Because while the movement may appear slow right now, I am actually experiencing this extreme change in the world order to be happening super fast. The effects may not be felt over night and maybe not even in ten years, but what trump has accomplished in one year, will most likely have a very negative impact on the US economy for decades and decades to come. Because we ain’t fucking coming back. That’s for sure.
rumba@lemmy.zip 2 days ago
Not a stupid question at all, but so far in the weeds of speculation that we couldn’t get a straight answer out of it with a 24 pack of beer, a d100, and a really good DM. But let’s ponder.
The nature of international trade and finance is screwy AF. It’s like finance for the rich, where the only money that exists is what people owe to you and what you owe to people. Noting ever changes hands, not to say that it would soften the blows but it does make the effects move more slowly than one might want.
If it were just the international fall of Apple, Microsoft, and Google, along with the standard bits and bobbles of alcohol, and whatever 100 other odd consumer products we actually still manage to produce in the states, I don’t think that’ll hurt us as much as whatever eventually happens to with AI. A single day of military production probably outstrips most of that. While it’s possible that other warmachines can ramp up to quell the hunger of everyone for world destruction and weapons for self-preservation, I suspect once the current series of aggressions, fiasco,s and administration disappear, the US war machine will still find plenty of buyers, though the menu will likely change as we’ll no longer seen as a reliable ally. Food and Oil/industrial exports will likely fluctuate, at most. I suspect they’ll be forced to sell at a discount. If tourism doesn’t recover, that’ll beat the F out of a lot of places. We might see Vegas go fallout style.
I’d love to see European alternatives for Apple, Microsoft, and Google. I’d import that in a hot second.
Honestly, If the world really wanted to see the US burn, they could just stop trade altogether. The time to restructure food, coal and oil would be enough to starve out a lot of the population, even if we’re relatively close to self sustaining, none of those channels are setup.
Imaine the calls for blood when you can’t get produce out of season and avocados become $15 each.
Phunter@lemmy.zip 23 hours ago
Not that I don’t wanna teach USA a lesson, but I feel like stopping all trade would be like shooting yourself and a bipolar bear each in the foot in an attempt to see who bleeds out first. Answer: nobody bleeds out and everybody is pissed, especially the bear.
Also, I think USA gets a lot of avocados from California farms and Mexico so those might stay cheap regardless.
Definitely displace/replace the tech giants though. Monopolies suuuuuck.
araneae@beehaw.org 2 days ago
Ah so a market upset the rich control the timing for, virtually indistinguishable from a bubble unless you’re holding all the cards, amazing analysis by Hang Green there, that guy is so great at sanewashing.