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A TL;DR of the Goldman-Sachs AI Criticism
(lemmy.world)
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this post was submitted on 15 Jul 2024
653 points (96.4% liked)
Fuck AI
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Unfortunately, as Keynes noted: “Markets can remain irrational longer than you can remain solvent”
And my god, they’re committed to irrationality right now.
But that's where the money is!!
(Until it's not)
Your Return of Investment can be someone else's investment.
One might call it a pyramid scheme
And the suckers w/o means to participate can live and die for generations knowing only disadvantages of it.
But participated or not, their lives will still get even more rounded one the system collapses.
Lul, just realised that that might be a bit more based than the regular god (aka capital) intended version - the return on my investment can be someone else's labour.
Nvidia has to be the most obvious thing to short in this whole mess, except for that quote. If the AI bubble popped tomorrow, you'll make a lot of money. If it pops in a year, you may lose it all before then.
To be fair, I watched a ton of crypto bros use that quote to justify holding shitcoins while they crashed to zero.