Think all our debts will be wiped out? Or just our assets…I wonder.
Oh shut the hell up already
As a millennial, I’ve developed a baseline immunity to once in a lifetime devastating economic collapse.
I’ve never had any savings that can be influenced by a stockmarket crash, so I’ll be fine
Hopefully that’s a joke
The state of the american economy is a joke, yes, where it makes things like this probable
No, what I meant was a market crash will affect you even if you have no investments.
Never had more then a thousand dollars in savings before a medical emergency, major crisis, economic implosion, or some other event destroyed anything I built.
I just gave up entirely. Lot of people stuck in this position unfortunately
The point I was making is that a market crash will affect you even if you don’t have investments
Ahh yeah, my bad. Ignore me i misunderstood.
Only half
Gen X here - we had a good quiet 20 years and then everything went entirely to hell.
The official Gen X response is: whatever…
Usually but I have a 12 year old daughter. If I didn’t i would say let the world burn
Just a tuesday
What timezone are you in?
A metaphorical Tuesday, my friend
Why stock up? Buy shorts!
AI stays: Wealth consolidation
Bubble bursts: Wealth consolidation
You are fucked either wayIt will scurry into its little hole nicihe just like nft’s and crypto, it will stay around, but eventually, all the bullshit will die down… And we will move on to the next bullshit…
Eh, us poors will just eat the rich.
Stocking up on stocks?
Calories, energy, and ammo.
I have 4 cans of beans. Im ready
I have 20 Terry’s chocolate oranges which I bought while drunk. I’m going to be a millionaire in the apocalypse wasteland.
Tanking the financial system by means of the AI bubble bursting, right?
“Whoops, our AI agent went rogue and took all your money.”
Would FDIC apply in this scenario? It should, since it’s effectively bank robbing, but my guess is they’ll have some excuse for why your money isn’t insured specifically for AI agent theft.
“Only humans can commit theft” probably
The biggest mistake we made after the last financial crisis was not putting heads on pikes. Justice should be far more punishing if it’s ever going to threaten white collar criminals.
I’m not holding my breath, but I hope current political extremism breeds actual consequences for the wealthy elite this time around.
Absolutely, we told the wealthy to gamble recklessly and they’ll get bailed out, then printed money for them to do it. When we turned off the money printer, they got big mad and now we’ll all pay for it.
Thanks Bush Jr!
An AI CEO advising people to stock cash, food and a hand crank radio in case AI takes down banking is some spectacular product marketing. Silicon Valley spent years insisting AI would run everything. Now the contingency plan is to make sure nothing you own needs a computer. Progress! 😳
plus, if the financial system collapses the cash won’t be worth the paper it’s printed on.
imagine this kind of product marketing in 90s or something. “Hey everyone! We made something that is really really bad and dangerous (but also oh so very potent!!), it will end the world as we know it in a bad way just any day now! Look out, there it potentially goes! Soon we will be out of electricity and food, banks will collapse and nukes will fly! Isnt our product wonderful!!!”
Not only has the other shoe dropped for the world, entire warddrobe got thrown out as well.
Still blaming AI for everything they do themselves I see.
AI does not do anything by itself - it only does whats instructed
Don’t worry everyone else does as well for some fucking reason it’s not just the ceos.
This. So much this
No way AI is taking down the financial system.
It’s all fearmongering and doomerism.
AI won’t, but the entities responsible for it will.
Ahem, you’re not talking to me, you’re talking to little Claudie.
You are a moron if you think it has 0% chance.
Perhaps not AI itself and perhaps not the actual system, but if/when the bubble bursts it absolutely will do a lot of financial damage.
They will try and pass the fallout onto the people, similarly to how they did in 2008, with the mortgages being used to hedge their stock market bets (bad ones at that) after regulations were removed to safeguard that from happening and people lost their homes, the banks got bailed out. The people responsible got no punishment. They do this same shit all the time. They shoot too high hoping it’ll catch on, and if it doesn’t they don’t pay the price. This time, we need to stand with whomever wears the cost and make sure the richest are the ones who pay. The ones responsible for this. They all go under, or we take them down.
Eta, this article is bullshit tho
Why would I stock up when the rich already did it for me?
Over god sake this again.
They wouldn’t do it if it was going to actually destroy the world. Even trillionaires need to live in the world unless they seriously think they’re gonna build Elysium.
They think that can buy their way out of the consequences, and they are right. Economic crashes will not functionally hurt those people and they won’t be affected by climate change other then having to buy a different set of houses. Also a couple of them are trying to build Elysium.
Currently yes, but when shit hits the fan and they gotta run to their bunkers, money won’t mean jack after a few weeks of their bullshit considering most billionaires are out of touch morons who couldn’t lead shit without throwing money at it.
The people working on AI are definitely not going to be millionaires. I’m talking about the so called scientists, who claim to believe they are working on The Manhattan Project 2.0: Armageddon, yet still apparently stay.
So what’s the story here they go home at the end of the day to their family and say today with a good day I think the world will be destroyed by the end of 2027 but hey ho, at least I’ve got a pay rise, just need to make sure to spend it before next August.
Give me a break. Anyone who is actually working on a project that they thought was going to destroy the world would stop working on it.
You clearly have no idea how much ai engineers are paid, and even less of an idea how their stock options are priced.
What are you talking about. The engineers the ground level folk that a developing this stuff yes they’re paid highly but they’re not millionaires by any stretch in the imagination. Building a system that will crash the entire economic system of the Earth is not beneficial to them.
At a 2tr$ targeted valuation (yes that number is silly but it’s also the IPO target) 1$mil is only a .05% equity stake and engineers usually get .1-.2%
Only if they divest. Which they can’t really do because it isn’t actually clear that the shares will increase in value long-term in fact dive into shares would put a scare on the market.
But that’s not really my point, my point is if the AI completely collapses the financial system then by its definition a lot of money isn’t really going to motivate people not as they truly believed money would become worthless.
The main engineers buildings this stuff are millionaires. They’ve been making probably $400k on the low end and we know of salaries over a million on the high end.
Still not enough to survive an actual world collapse though.
What metrics do they look at to know if the end of the world is going to happen? What historical context patterns do they look at? “actually” destroy the world as if they know what “actually” will destroy their worlds
