Comment on Disney Exits OpenAI Deal After AI Giant Shutters Sora
ZILtoid1991@lemmy.world 1 day agoI have a theory, that these techbros have became so savvy of bubbles, that they had plans to keep it going forever, or at least make it slowly die instead of crash at once.
UnderpantsWeevil@lemmy.world 15 hours ago
I heard the big banks were trying something similar shortly before the '08 crash. And the Enron/Worldcomm crew right before 9/11.
Certainly possible they’ve got an exit strategy lined up. But the problem is that they’re always just a little too greedy and too high on their own supply. During the '14 mini-recession, reinflating the bubble economy was a bipartisan goal. After the '20 COVID crash, there was broad consensus in cranking open the money hose and flooding the economy with cheap cash. '08, '14, and '20 set a big historical precedent for the “We’ll never let you fail” policies of the federal government. And so we’ve diluted a lot of the short term pain of economic contraction into the longer term pains of currency inflation.
The enormous devastation to real physical capital all across these Mid-Eastern theocracies, combined with the socio-economic pressures of Climate Change induced heat waves, can and will push certain regions of the globe to a breaking point. At some point, you just don’t have anything to spend all those excess dollars on.