It’s all a giant circle jerk where they just hand money to each other.
People always think it’s just the same briefcase being passed around, but it’s not.
Because what’s really happening is they all own stock in AI, and if AI crashes then that stick is worthless. And because they took loans out on that stock to buy more stock, it could domino into a lot of the world’s richest people, just suddenly going broke…
As normal people invest their pennies, it just pushed the stock price higher and higher. But it’s still not creating wealth, just transferring it to the wealthy who already have 99.999% of the stock
Yup, these are not investments; they’re not even bets that AI will continue. No, they are self-fulfilling prophecies of AI’s relevance.
In the end there has to be an economic backstop for reality. It’s either third party vendors that aren’t part of the hyperscaler cabal, or employee payroll. We’re already seeing layoffs which reflect AI financial tie-ups rather than efficiency gains.
But those two are where I’m hoping eventually we see missed payments as an early canary in the mine. But it’ll probably be a long time, too much money is at stake now for them to give up until they’re actually broke.
A progressive federal government can seize their domestic bank accounts, can seize all their stocks in the world’s largest stock exchange, they can seize land/property, they can sanction specific overseas accounts or just every small country who has “hiding money” as their main economy.
That’s all shit a government can do
And we’re pretty fucking close to it, closer than we’ve been since FDR.
The billionaires know this, and that’s why there’s a massive push to make people give up on the DNC, and there will be thru the presidential election.
It’s all a giant circle jerk where they just hand money to each other.
People always think it’s just the same briefcase being passed around, but it’s not.
Because what’s really happening is they all own stock in AI, and if AI crashes then that stick is worthless. And because they took loans out on that stock to buy more stock, it could domino into a lot of the world’s richest people, just suddenly going broke…
As normal people invest their pennies, it just pushed the stock price higher and higher. But it’s still not creating wealth, just transferring it to the wealthy who already have 99.999% of the stock
Yup, these are not investments; they’re not even bets that AI will continue. No, they are self-fulfilling prophecies of AI’s relevance.
In the end there has to be an economic backstop for reality. It’s either third party vendors that aren’t part of the hyperscaler cabal, or employee payroll. We’re already seeing layoffs which reflect AI financial tie-ups rather than efficiency gains.
But those two are where I’m hoping eventually we see missed payments as an early canary in the mine. But it’ll probably be a long time, too much money is at stake now for them to give up until they’re actually broke.
It’s incredibly easy to fix tho…
A progressive federal government can seize their domestic bank accounts, can seize all their stocks in the world’s largest stock exchange, they can seize land/property, they can sanction specific overseas accounts or just every small country who has “hiding money” as their main economy.
That’s all shit a government can do
And we’re pretty fucking close to it, closer than we’ve been since FDR.
The billionaires know this, and that’s why there’s a massive push to make people give up on the DNC, and there will be thru the presidential election.
As Dougie Houser MD once said:
https://www.youtube.com/watch?v=rFFlOn4VXww
Or we could just seize all means of production and be those with this shit once and for all.
Buddy…
What about “take all their shit”, wouldn’t include the means of production?