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this post was submitted on 29 Aug 2024
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Isn't it good that the money is being put back into circulation instead of being hoarded? I'm all in for the wealthy wasting their money.
The problem is the bulk of it is going to Nvidia.
Don’t forget all the fuel burned for electricity to power it!
Well probably not just Nvidia but the next likely beneficiaries are in the same range (Microsoft etc.)
The money goes to Microsoft/Google/Amazon/etc, which they goes to Nvidia.
They buy the hardware once then sell services based on it.
Sort of, they buy the hardware and sell services, and then buy upgraded hardware. Nvidia is a pretty big part of the sales cycle.
I’m willing to bet the vast majority of that money is changing hands among tech companies like Intel, AMD, nVidia, AWS, etc. Only a small percentage would go to salaries, etc. and I doubt those rates have changed much…
They typically use internal personnel and being parcimonious about it so you're right about that.
The larger issue that people always fail to remember is the energy consumption. We are see massive amounts of electricity.
The wealthy are under sailing like always. Just like we did with cigarettes or burning fossil fuels. We should have learned but it by the time we do, it might be to late.
https://archive.ph/AqhHz
Thats a "Parable of the Broken Window". They could be spending their money on something actually useful.
But they probably wouldn't, they'd just throw it at gold, crypto, or something else that doesn't provide any real value.
Even stuffing it under a mattress is better than wasting people's time.