Comment on AI boom could falter without wider adoption, Microsoft chief Satya Nadella warns
Blackmist@feddit.uk 4 days agoOh, we’ll see about that.
The key difference between tech giants and the banks, is the tech giants aren’t holding everyone’s money hostage.
Sure, those gen Z kids will lose all their photos of grandma because they couldn’t fathom a world without Instagram, but we’ll cope.
SaraTonin@lemmy.world 3 days ago
No, but when the AI bubble bursts it will wipe out between roughly 40% and 60% of the value of the US’s stock market, depending on which estimate you go by. For comparison, the initial crash of 1929 saw the stock market losing around a third of its value.
So either the government does bail them out, or it’ll be worse than that crash was.
Neither option is good for the little people