Economy crash is less damaging of a totalitarian techno-regime
Yeah, the economy has crashed, what, like 3 times in my life now?
Fuck the economy.
Fuck the economy and fuck capitalism
Economy has always been an euphemism for the financials of the capitalists
Someone on Lemmy pointed out that you can usually just replace "the economy" with "rich people's yacht money" in most news articles, and I'll be damned if that isn't the truth.
"Rich People's Yacht Money"
Wednesday’s strong reports on Rich People's Yacht Money were welcome news for the Federal Reserve, whose job it is to keep the U.S. job market healthy and inflation low. The Fed’s job has become more difficult because of the jump in oil prices, which is pushing upward on already high inflation.
...
The Dow Jones Industrial Average just crossed 50,000 points for the first time, but that doesn’t mean Rich People's Yacht Money is healthy
Lol 
Better to rip off the band aid now
I choose the timeline of AI fails, economy crashes, people band together and fight back against goverments.
But the computer stuff will be so cheap on the second hand market!
LAN party in the alley when we lose everything!
Sadly no. AI hardware does not relies on the same fundamentals as consumer hardware.
Long story short AI stuff use Float 4 or 8 because accuracy is not a factor. Games or physics simulation use Float 32 or 64.
If you are being slightly serious, I hate to break it to you, but the HPC equipment that is taking up all manufacturing capacity has limited consumer use. It's just so power hungry, specialized, and heavy.
Imagine if jobs weren't tied to survival. Like, imagine people got paid for whatever they did. Raise a kid? Government sends you the wage. Community work? Fill out the wage application, describe what you did, wage. Work some job? Wage. Overpaid? Taxed more. Underpaid? Subsidised. Sat on your ass and charged other people rent? Jail.
Then consider what it would mean for ai to take over a bunch of jobs. More money into the pool to pay the wages of creative work, community work, and say UBI. Tech improvements would be celebrated. The economy would be democratised. We'd all benefit.
These are important criticisms to make about liberalism, the coercive power in of wage labour and private property are powerful tools of capital exactly because that precarity gives us less time, resources, and security to resist even the devaluing of our labour.
I don't know what the usability of this post and the image created here is, though. What you've presented here is still stuck in that commodity mentality. Is tech not celebrated now, when we can so easily cure diseases that we only named two centuries ago, or when people identify with internet culture? What level of democratization could even exist in an economy where the mass production of computer technology still exists when the very design of every computer we have depends on colonial extraction?
I've found it's more difficult to imagine a future worth living in when that imagination is only oriented around escaping reality. There are good outcomes from AI the same way there are bad outcomes, because neither have happened. The world doesnt just end when the economy collapses, and people aren't helpless to resist authoritarianism or capitalism. In the same way, imagining AI as a solution to the problems in the metropole by its capacity to fulfill devalued labour roles takes for granted what is needed to build an AI infrastructure like that, and whether this hope is dependent on the continued subjugation of others. Its a future based on maintaining the present, not improving it.
This isn't to say your comment or the actual post are pro-colonization, but just that we should question how much of our imagination of a positive future is based in the privilege that we experience today. Conversely, are you willing to live in a world where you are more materially insecure if it meant a global shift away from colonialism? Is it still motivating to consider a world where your labour is even more in demand because we no longer extract in a way that facilitates such an abundance of automation even down to your dishwasher and laundry machine?
Liberalism and capitalism depend on an immaterial world to exist as they are oriented around the imperative for infinite growth in a finite world, so it is important to remember that people will readily embrace the privilege this system affords them if that is the only real route to a world where they personally can pursue art instead of other forms of labour. If our liberal system affords us a UBI and socialized housing in exchange for complacency in its global extraction, would you still want it to end?
I care about jobs far less than I care about our environment.
AI must fail.
I can assure you humanity seems dead set on destroying the environment no matter the means to get there.
I'd care about the economy if I had a real stake in it. We're all just serfs being used up and thrown away. The medical industry sucks the last bit of wealth anyone is lucky enough to build over their life time.
I don't think the AI crash would effect the daily life and real life job, industries. Its effects will be limited companies that are invested in this bullshit, which are running this long term pump and dumb con.
In the end this bullshit doesn't have real value in the market like food or healthcare. All they have to show for is some bullshit evaluation on paper and they have nothing real to show for these trillion dollar companies.
Its effects will be limited companies that are invested in this bullshit, which are running this long term pump and dumb con.
The effects of the housing bubble will be limited to the lenders and borrowers of subprime mortgage debt.
About a third of the US's economy right now is this AI pump-and-dump scam. When, not if, that goes away, there will be a huge ripple effect.
I mean the subprime mortgage crisis was also just in the airy heights of finance ... until it brought the world economy down.
A fair few of the companies would also never be allowed to go under. Microsoft, Google, Oracle, Amazon, etc are basically insulated from any ill-effects, because they would considered too big to fail, and be bailed out if anything major happens.
Or, we get rid of capitalism and build a new world not based on growth amd respectful of people and the environment.
I see a bright future on the right
Yeah, it's not as if this economy does anything more than shovel money into the black holes of billionaire bank accounts.
We can rebuild after it fails. If it seriously starts replacing people and there’s no regulation against corporations doing it we’re done
The thing is that I do not see AI "failing". Its current state is already goood enough to take many people's job, let us not kid ourselves. And also, even if the current iteration of AI "fails", there is always the argument that "we are just around the corner to AGI, wait for the new AI version!".
I honestly don't see AI going away, sadly. I fucking hate it. We built such a shitty fucking society. We could all have beautiful, chill lives, but nop. We suck.
While the technology likely won't go away, some of the companies behind the AI push take huge losses and may collapse. OpenAI, Oracle, Microsoft and the bunch are spending insane amounts of money on datacenter buildout that may never return a profit.
Most AI subscriptions for instance are priced under cost to lock users in. However, unlike traditional services, it's trivial for a user to migrate to a competitor or (eventually) run a local model. Currently that market doesn't return a profit and it's questionable if it ever will
Increasingly, this looks like a death spiral of tech giants where nobody can admit to the sunk cost fallacy. Unfortunately these companies are in everybody's investment or retirement funds, so when they crash the economy will crash with it. I think that would be the "AI failing". Not the technical aspect, but rather the economical aspect.
One group of people wins no matter what
It needs to fail and it probably will.
Anyone who knows anything about LLMs know that it can't "succeed" in that way. I have no doubt the powers that be will pretend that it does anyway, hurting and killing a lot of people in the process, for power and profit.
AI fails
only the proportion of the economy that relies on AI would crash, which represents a sizable portion of the economy but which is controlled by a small numerical population of individuals
so for the majority of people it is fine
They'll find a way to make us all pay, but I agree with the sentiment
Stocks are their own entire economy for the rich people at this point. Just don't give gamblers bailouts they don't need and we will be fine.
Better hope you have zero money sent through or stored in a bank or pension fund and you don't have a mortgage yourself or your landlord doesn't have a mortgage or your employer doesn't have a mortgage or business loan and doesn't use a bank.
The correct response is what Iceland did: government bails out the bank's customers, takes ownership, and actually jails the c-level ~~wankers~~ bankers.
Because like it or not, you're still part of the financial system unless you're currently sat in a self-sufficient earth-ship borrowing some else's WiFi connection.
Let it crash.
Unemployment is only a problem for the working class under capitalism
The economy won’t crash. Will a large segment of corporations that have either invested heavily or are AI companies take a substantial hit? Yeah.
Fucking let em.
The economy is already crashing. AI will just make it that much worse. Trump will be the first president in the 21st century to cause a US depression.
I'm hoping for "AI destroys Capitalist system, so emergency Socialist safety net is deployed." And then we pop out the other side and only have to work 10 hours a week, because AI does the rest...
You're imagining a change to the power structure of the world without having to fight and die for it. It has never worked like that.
The 8 hour day was the result of strikes that involved the strikers getting beaten and killed by the police.
Considering AI is the tool of fascists... I don't see this one happening.
It's going to be a little of column A and a little of column B. Also if AI succeeds then the economy will also crash.
I think we're due for another proper depression. Let the economy crash and burn
AI did not take your job. Your economy is shrinking and you have just accepted diminishing returns. The top 10% is on the spreadsheet you are not. You should be worried about getting murdered in a trench for the pdfile class. Just look at all the turd sandwiches around you... the fast talker is not gonna convince me to buy a turd sanwich. With a currency that has been diminished by 50%...well of cource I am gonna be cheap or completely opt the fuck out. We are in hog heaven and dum dum purgatory. The rich stole from you and now we have our hands and only fans. They don't need you but you need to have some self respect. AI makes garbage from the work it stole from us and it only poops out turds and makes the job 100 times harder. Don't internalise the nonsense of capitalism. It is not your fault. It is stupid by design and you, well you are just fine.
"We did it, Patrick! We made a technological breakthrough!"
A place for all those who loathe AI to discuss things, post articles, and ridicule the AI hype. Proud supporter of working people. And proud booer of SXSW 2024.
AI, in this case, refers to LLMs, GPT technology, and anything listed as "AI" meant to increase market valuations.
