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Yay! $300 billion was added to the GDP!
Don't forget:
Government: "I see this sector displaying $300 billion GDP growth in one year!"
We need a better tool than that old, easily-manipulated "stock market" to track value. Value needs to become real again, not always inflated, because "shareholders".
Value is a mechanism that hides what actually creates value: human labor power
Energy & material extraction also create value.
But who mines the materials? Natural resources are given to the oil and gas industries. The gasoline and fuels displace the value of human work by technological means, but the machines still need people to run them. The machines were built by workers. Without people doing stuff the oil and minerals just stay in the ground.
You can argue that oil and gas mineral industry mines the resources, but those resources, and the work it takes to extract them, is incredibly valuable to society. So who owns them, and why, becomes a political question.
Value is nothing but a store for human labor.
It's not a tool to track value, it is gambling for rich folks
Umm yes gambling kind of. But not as a regular customer. They are the house, and the house always wins long term.
And shareholder interests (create money!) make the too-big-to-fail companies think only in quarter year profits, turning them evil.
I feel like he missed a key opportunity to tell the kid asking “what do we do?” “You need to unionize. Collective effort and mutual aid will serve you better in life than most things.”
It's a pyramid scheme, always has been... every decade for the last 30yrs there's been a few of them... The dot.com boom and bust of the 90's was the start, in the 2000's everything went 'digital' which was the same old shit with an LCD added to it and a doubling of the price, digital services for games/music/movies where they could take away what you bought... then they got even more serious in the 2010's where the real enshitification of the internet started... the 'cloud' where you were no longer allowed to own your own data, subscription fees for everything... 'smart' appliances that just tracked you and stole your privacy for the enrichment of a few billionaires... Crypotocurrency, the biggest scam and pyramid scheme to date... and now in the 2020's, crypto as a means to launder money and bribe politicians, massive corruption, fraud and consolidation of power by evil people and their corporate paymasters... and of course... the newest and worst pyramid scheme of them all... AI...
The only way to win is not to play... don't use it, disable it, remove it... every time you use it you are encouraging them to invade you life, take away your rights and exert control over what you can do and think... I know some of you will think that's an over reaction, you will learn one day that I and others were right to warn you as I have been doing for years now... But by then it will be too late, the climate is burning and these billionaires are trying to make it happen quicker, they value their wealth more than your very existence and they will hide away in their bunkers and private islands as the rest of humanity burns.
Anyone have any historical data on the dotcom bubble and what stocks benefited from the crash?
bump
If I had to guess, all the big companies that were deemed "to big to fail" and were bailed out.
I love how with the previous schemes like crypto, communities like this would have thought they were in on it, now with AI it's like nope not falling for that Spanish prisoner BS again.
Crypto allowes everyone to gamble. LLM hype only works for the owners, everyone else have only fugly pictures and schizophrenic texts
AI may not be profitable right now, but there's a lot more to "the magnificent 7" than AI that keeps them profitable. Even if the AI bubble popped, people would still be wasting their time on Facebook and Microsoft teams.
They still have to make that money back somehow though. They can't just put a load of investment down on AI, make zero money off it (or worse, less than zero) and then expect everything to be fine with the existing profits. They need to raise revenue from existing streams to cover for the loss they just incurred by doing AI. That, or cut costs, which means layoffs, which means people have less money, meaning they spend less money, which means businesses make less money, so they do layoffs, and so on and so on leading to a recession.
US taxpayes will be proud to carry this burden, as always.
Privatize profits, socialize losses. The American (and thus global) way
the american exceptionalism reeks with this* one
I don't know the exact numbers but I doubt these 7 companies employ enough people to cause a recession even if they fired everyone. Hell, they are laying of a lot of their employees already.
The economy is weird man, it's all about collective vibes. If enough people in the right places care about these companies, they'll see small changes and freak out, making their own small changes and so on and so forth.
Vibes is a pretty loose way of putting it. It’s about information and lack thereof. Like a poker game or a real time strategy game. You might have some idea what your opponents are doing but you don’t know exactly what it is, and you don’t know if it’s actually going to work or not. You also have plenty of cash (minerals, vespene gas) to spend on a possible defence that may not work out.
Or it will never work out because you tied 20% of your company's value to vaporware and the bad vibes cause panic selling of your stock.
One third of the stock market's value suddenly dropping by 80% would definitely have wider reaching affects on other companies, leading to further issues.
over 2.3 million people. yeah it'd be pretty big.
Wou... Is that globally?
Absolute bubble for the datacenter middlemen and the AI software behemoth models that need data centers. The hardware companies though, and AI/LLMs overall, are here to stay and even if they waste some of their profits on investing in middlemen/datacenter/software customers, they can be profitable by inflating costs of their GPUs/hardware.
GPU depreciation matters, but tends to be relatively slow due to controlled incrementalism in hardware. Still, the high end faces the most risk, and Huawei/Alibaba won't be satisfied with small share gains over Nvidia to keep pricing gains. Even AMD is improving software stack fast enough to make affordable private AI. The low end has signficant disruption potential to the fossil powered datacenter/Skynet model.
It's not just an overall stock market bubble, it is a US GDP bubble. Where datacenter growth $ is larger than consumer spending growth $. Skynet for Israel control spending is an unstoppable corruption vector, and yes the champions of Israel must be financed and supported as geniuses by all media or "China and Iran will win."
they would have to sell us $800 billion worth of services over the life of today's data centers
$100 for a yearly AI subscription for each human is possible. The problem is, which jobs do the people have to pay for it?
$100 for a yearly AI subscription for each human is possible.
Or, more likely, companies doing something actually profitable will use AI and pay for it.
I don't think so. Half of the population on earth lives on less than $6.85 a day
https://blogs.worldbank.org/en/developmenttalk/half-global-population-lives-less-us685-person-day
The problem is, which jobs do the people have to pay for it?
If one half wants to keep getting their wages, there should also be enough jobs for the other half. New jobs have to be created anyway.
That's funny you think they will stop at just covering their costs once they have each and every human depending on their software. This is about infinite growth baby!
It might be possible for people on the Fediverse. Lots of people working in the tech sector with a good salary. But we are not the norm.
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this post was submitted on 27 Sep 2025
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