The entire US economy is currently being propped up by growth in the AI/tech sector. And I am convinced that LLMs are fundamentally incapable of delivering on the promises being made by the AI CEOs. That means there is a massive bubble that will eventually burst, probably taking the whole US economy with it.
Let’s say, for sake of argument, that I am a typical American. I work a job for a wage, but I’m mostly living paycheck to paycheck. I have maybe a little savings, and a retirement account with a little bit in it, but certainly not enough that I can retire anytime in the near future.
To what extent is it possible for someone like me, who doesn’t buy into the AI hype, to insulate themselves from the negative impact of the eventual collapse?
The seven primary companies that are trading around the same tens of billions of “investment” and “credits” are worth 34% of the S&P 500.
Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, Tesla.
All of them are betting HARD, because CEO types think they can be first to market with the singularity and win. (That may be oversimplifying a bit, but every one of these companies is run by Nazi collaborators. Make stupid calls, win shitty reputation.)
While true, those companies all have solid revenue streams that aren’t directly related to AI. If a bubble pops they’ll all suffer, but all of them were profitable before the AI boom and can survive without it. It’s very different from the dot bubble because that was driven by speculation and many companies weren’t making any profit back then.
I completely agree with most everything you said, but I will note that Apple is an outlier in that they are not investing deeply into ai. They are a shit company, and Tim Cook is most definitely a Nazi collaborator, but they are not a crutch of this current bullshit market.
That’s fair. They’re behind, but definitely playing. “Apple Intelligence” has been around for a year, just badly under-developed.
Apple plans to ‘significantly’ grow AI investments, Cook says | TechCrunch