I’ve taken shots with more value to the man race than Sundar Prichai
The utter lack of self-awareness…
If an AI bubble pops, no one is getting out clean.
He means the taxpayers.
Privatize the profits, socialize the losses
“We should privatise service X so it’s more efficient” X collapses “We can’t afford to let X fail despite the fact that it ran at massive profits all the way to it’s collapse so we’ll bail it out” THEN WHAT WAS THE POINT OF PRIVATISING IT IN THE FIRST PLACE?!
You can take on the burden of running the thing and therefore the cost of making it public, or you can allow it to be private with the caveat that they must pay a substantial (enough for the government to not be at a net loss) tax as a kind of insurance in the event a bailout is needed, but don’t take on the worst of both worlds where the profits are private and the losses are public.
Let the taxpayers prop up failing companies. Corpo welfare is the good kind of welfare even though most of the money gets sucked up by the Executives and share buy backs.
At least China is right about not bailing out their companies when their own property bubble collapsed.
The bar can’t be “not as corrupt as America”. That’s not a bar, that’s the ground. They can and should do better.
Oh I’m not trying to defend or exalt China. I’m saying that we should be like China when it comes to dealing with billionaires. Or even better, be like Vietnam, when the court ordered a billionaire who defrauded thousands to pay in time or be executed.
Agreed.
The amount of bailing out should be inversely proportionate to the amount of people fired during record profits.
Due to the sheer number of articles surrounding the AI bubble popping; I’m coming to the conclusion that this has already started.
you’re kidding right?
those billionaites that gambled the US economy on an executive borwnosing machine will get a bailout paid by those who lost healthcare and can’t afford food. 2008 all over again.
It makes more sense if you read it as a threat.
We should improve society somewhat.
that sounds like antiameticamism and therefore legally making you a terrorist
I believe the French had a nice invention for that. And it’s not the ‘pain au chocolat’…
didn’t they ended up with an emperor?
we learned that violent revoluts without unity and theory will succeed in creating another unfair system.
Organise, join local groups, join those groups with other groups.
tbf the 40 years after the french revolution were called “the terror”
Quiet quitting is our best bet. If they don’t give you decent health care and a retirement plan then we’re just doing the minimum. Why would we work harder for less in return? Maybe we can just all start our own AI business. Every American can have their very own AI automated business with passive income.
If they don’t give you decent health care and a retirement plan then we’re just doing the minimum. Why would we work harder for less in return?
Don’t even do the minimum. Will McDonald’s give give you half a of a cheeseburger if you only pay half? Will a bank only seize half your house if you start paying half your mortgage payment? Why would we give them half-effort for a penny less than what we’re worth?
It’s painful and slow but more and more people are learning to live without working. Not an easy life but it’s probably going to be necessary at some point if this system is ever going to change.
Quiet quitting is such a bizarre phrase for me as Irish. As long as we do our jobs right, we can do whatever we want. At the end of the day, a job is meant to put food on the table, not be your life. Even some of the worst companies I have worked have a laidback attitude compared to workplaces abroad.
Quiet quitting is such a bizarre phrase for me as Irish.
It’s just a trendy phrase for what has always been called worke to rule.
Do precisely what your job description requires and not a single bit more.
I’m waiting with money to buy Google for 1 dollar.
“I’m gonna take you all down with me!”
Then I’ll ask for a sweet socialist bailout while the rest of you enjoy rugged capitalism.
Make no mistake. Just like the housing bubble of 2007 and 2008 there are people poised and ready to make tons of money off of the deflation of the AI bubble.
The money to be made is on predicting when, not it it’s going to burst. Otherwise we’d all be betting the house on it.
Actually it’s more about the how. The people betting against the housing market put their chips down as early as 2005. They just had to find a way to profit from it.
Jacked to the tits…
Don’t worry, I’m sure there will be a huge government bailout that the people have no say in. Remember 2008? I don’t remember voting to give away piles of money to the bankers.
You know what Iceland did when there was suspicious investing and they had bank failures? They put the bankers in jail! What did we do? We gave them a bonus!
God bless America, because we’ll need it!
America is really bizarro world compared to other countries and how they handle things like this.
It just seems like in America, you can fail upwards, con people and still get out filthy rich.
Nah, most of Europe did exactly the same thing as America last time around. Hell the EU went out of its way to make sure bankers didn’t lose money (how do you think Greek Debt which was entirely in private hands ended up in the hands of the EU, which then turned around and forced Austerity of Greece “to avoid losses of money of EU taxpayers”) - the Corruption was just as bad on this side of the pond as it was on the other.
Iceland stands out because they were almost unique in the West in making the bankers pay for their shenanigans.
you can fail upwards, con people and still get out filthy rich.
Only if you con the poors. If you con someone who’s rich or “powerful”, then you get punished.
It’s only bizarre until you realize this isn’t a failure of the system. This is a success for the people getting the payout. They have lobbied and deeply infiltrated the government. The US government doesn’t serve the citizenry anymore. It serves the rich and powerful. The rest of us are just useful as consumers to funnel money to the corporations.
One can dream.
Big tech has never seen common people as anything but data. It’s funny they now are concerned for what will happen to us if their bubble bursts
What’s funny is that you think they are concerned 🤣
I don’t think they believe the concern is real.
“We should Improve society somewhat”.
“It’s funny you think they would let society improve lol! How naive!”
Please don’t be like that. It’s peak douche behavior.
This is a threat. They know that they’re using the stock market to fund their greed and that anyone with savings tied up there (Retirement funds that are invested in the market) will be on the hook. Plus the tax payer money they’re going to ask for because they’re “too big to fail”.
I was opposed to the bailouts in 08’, and I’m severely against any of these fuckers getting more resources to attack me. It’s absurd. What’s more absurd is that both aisles will support it, but Americans healthcare will be at 5k a month 😂〽️
Cleptocracy much?
Fuck it we ball. *gets a needle*
Let me fix that for you: “When an AI bubble pops…”
