Comment on A Majority of Americans Now Support Seizing Wealth From AI Industry
uriel238@lemmy.blahaj.zone 1 day ago
Being too rich should be an actual crime to the international community. Maybe after the oligarchs try to buy up Europe it will be.
In the classic days, hoarding wealth in excess was frowned upon. Then Spain got rich in the name of the Church ravaging and enslaving the new world. And in the US the California Gold Rush sold Americans the notion that anyone could strike it rich, and as Steinbeck observed, from then on we were temporarily embarrassed millionaires.
And with time, each new iteration of the ultrawealthy, from the oil and steel magnates to the railroad barons to the automotive industrialists and tobacco tycoons to the tech bros and private equity buyout financiers, all made their riches faster and in greater quantity than the prior one.
Curiously, recent news tells us that SpaceX valuation is crashing, OpenAI and Anthropic are way, way in debt and vastly raising token prices, and Chinese offerings like Deepseek are catching up and offering cheaper service.
Many companies who have gone all in for AI to replace or reduce their human workforce are finding that AI does a worse job for way more cost.
The bubble may be slow-leaking and slow tearing like a weather balloon, but it is coming apart.
Huh. In the aughts, Enron tried to work legitimately as an electrical power broker, but then it got way overvalued and then started engaging in shenanigans to preserve its high rating and the illusion of growth. I’d say expect more market manipulation and lobbying government from big AI, but I guess they already crossed that line a while ago – I think it’s time to regard that move as in indication they don’t really have any confidence in their product.
Napster153@lemmy.world 1 day ago
Sadly, there is no policing body that would not end up corrupt by trying to restrict wealth accumulation.
It’s human behaviour since the time we figured out its easier to store surplus food away then hunt every day. People ‘like’ big numbers or big counting in the context of hoarding because it provides assurance that we are safe, in a sense.
The real question is how does one guide the human mentality such that it incentivises hoarding or expenditure that returns to the larger group than a few. Really, if you can convince a rich man that improving other people’s livelihoods is a sign of wealth extravagance, we’d be on the path to the stars.
The poorest folk are the ones who never figure out when is enough.
uriel238@lemmy.blahaj.zone 1 day ago
During the enlightenment, Thomas Hobbes discusses the Social Contract, which is the agreement between ruling bodies and the public. It’s to say that as long as live in the working class is tolerable, we’ll continue to let the leadership lead (instead of overthrowing them for someone else, or even to establish self-governance).
There have since been data driven studies that development of a society: roads, schools, bridges, libraries, hospitals, etc. that increase general quality of life also increase productivity which increases profits, and this is the foundation of a free, liberal society with heavily regulated market capitalism. (The regulations assure that enterprises don’t cause harm, such as polluting rivers or underpaying their workforce or selling a false product, and don’t engage in anti-competitive practices such as underselling the competition or lobbying officials to legislate in their favor.)
Sadly, the ownership class did exactly what Marx predicted in Das Kapital, manipulated elections, bribed officials and was able to open the US federal government to lobbies and special interest groups. Reagan happened, and what followed was deregulation, the disenfranchisement of labor unions, and the capture of institutions. The US and EU became neoliberal, and has been in the process of collapse ever since.
During the aughts and 2010s, I got curious why game development companies would crunch to meet deadlines even though this didn’t work. Productivity would decline thanks to the crunch, and the development team’s health and morale would get wrecked. Studies came out that crunching does not work, and in fact has results the opposite of what are intended, but game development companies still crunch to this day in 2026.
We’ve seen a similar effect with RTO mandates, even after we’ve seen widespread increases of worker productivity through telecommuting. There have been some suggested causes for RTO orders: Companies are stuck leasing large office spaces and management doesn’t like the appearance of unused empty offices; Upper management narcissistically needs to have an entourage of busybodies around them doing the appearance of work. (This hypothesis is consistent with the existence of bullshit jobs.) Upper management distrusts the workforce, expecting that they are intrinsically lazy and prone to freeloading, and hence need to be micromanaged.¹ Essentially, our C-suite can’t get past themselves to keep their workforce happy to maximize production and then just let them work.
So the conclusion that I’ve come to is that our upper management is mostly incompetent, and enacts policy not based on data-driven best business practices but what feeds their own respective egos. When one is wealthy enough it’s very easy to fail upwards, and they all are that wealthy. The businesses that are still growing are the ones that have market advantage and engage in shenanigans to undermine and eliminate competition. This is how ISP services mostly have regional monopolies across the nation, and how all the big box stores now have their prices set by Amazon, making them essentially an oligopoly or a cartel.
That is to say our businesses don’t have to run themselves well, and the same culture is informing the capture and corruption of government. It’s also now I can predict that the EU, also trapped in neoliberal policymaking is not far behind the US in being captured by the ultra-wealthy and mega-corporations, and are facing the rise of right-wing movements and Overton window shifts towards fascism.
¹ This is consistent with conditions in Meta offices and Amazon warehouses under the direction of Zuckerberg and Bezos, respectively. This is also consistent with the market of products and services to combat time theft, even though most instances of alleged time theft are human beings doing human stuff like pooping or talking to loved ones, and wage theft by comparison is a crisis greater than all the petty property crime combined. (Generally, white collar crime causes more lost of life, property damage and cost than all other crime by orders of magnitude. Law enforcement is totally focused on the wrong criminals.)
Napster153@lemmy.world 18 hours ago
I like how you bring up the gaming industry because it’s always, to me, been a very good indicator for what sort of practices are engaged in other industries.
The little hats that run the gaming industry are just more shameless about it because they know this industry is a lot less likely to agitate the masses compared to a failure made public in say, the automobile or airline industry. Hence, any bad practice brought to light in games, is often preceding or revealing an even worse synonym elsewhere.