That sounds like a threat
Google CEO: If an AI bubble pops, no one is getting out clean
Submitted 4 months ago by Alphane_Moon@lemmy.world to technology@lemmy.world
Comments
muusemuuse@sh.itjust.works 4 months ago
gergolippai@lemmy.world 4 months ago
It will be dirty pleasure fo sho
Lucidlethargy@sh.itjust.works 4 months ago
Oh, that’s where he’s wrong. I think a great many of us will enjoy it.
demizerone@lemmy.world 4 months ago
Well now you know why Warren Buffet cashed out. He’s going to buy all the tech companies on a fire sale.
Snowclone@lemmy.world 4 months ago
promises promises.
thatradomguy@lemmy.world 4 months ago
So, they want us all to suffer for their bad decisions? Well that just puts us all on the same playing field (except for the 1%) and at which point, we will revolt and take them (1%) down with us.
cirkuitbreaker@sh.itjust.works 4 months ago
Translation: we juiced the bubble so good trying to make a trillion dollars that when it pops, the world economy is coming down with it.
AstralPath@lemmy.ca 4 months ago
More like we juiced the bubble so good trying to make a trillion dollars that you (world governments) better not let it pop.
JcbAzPx@lemmy.world 4 months ago
Any company not using AI for anything will be pretty unaffected when this bubble pops.
ianonavy@lemmy.world 4 months ago
Even if they don’t use AI, they probably trade with a company that does.
BarbecueCowboy@lemmy.dbzer0.com 4 months ago
Good luck finding that in any large or even mid-size company. If you think you found one, good chance you probably just found one with a lot of Shadow IT and poor visibility.
NotMyOldRedditName@lemmy.world 4 months ago
except their employee benefits package is guaranteed to touch companies impacted by it.
krooklochurm@lemmy.ca 4 months ago
I’ve taken shots with more value to the man race than Sundar Prichai
bitjunkie@lemmy.world 4 months ago
The utter lack of self-awareness…
GaryGhost@lemmy.world 4 months ago
Quiet quitting is our best bet. If they don’t give you decent health care and a retirement plan then we’re just doing the minimum. Why would we work harder for less in return? Maybe we can just all start our own AI business. Every American can have their very own AI automated business with passive income.
TankovayaDiviziya@lemmy.world 4 months ago
Quiet quitting is such a bizarre phrase for me as Irish. As long as we do our jobs right, we can do whatever we want. Even some of the worst companies I have worked have a laidback attitude compared to workplaces abroad.
kent_eh@lemmy.ca 4 months ago
Quiet quitting is such a bizarre phrase for me as Irish.
It’s just a trendy phrase for what has always been called worke to rule.
Do precisely what your job description requires and not a single bit more.
bold_atlas@lemmy.world 4 months ago
If they don’t give you decent health care and a retirement plan then we’re just doing the minimum. Why would we work harder for less in return?
Don’t even do the minimum. Will McDonald’s give give you half a of a cheeseburger if you only pay half? Will a bank only seize half your house if you start paying half your mortgage payment? Why would we give them half-effort for half-pay?
vane@lemmy.world 4 months ago
I’m waiting with money to buy Google for 1 dollar.
frog_brawler@lemmy.world 4 months ago
Due to the sheer number of articles surrounding the AI bubble popping; I’m coming to the conclusion that this has already started.
KingThrillgore@lemmy.ml 4 months ago
Fuck it we ball. *gets a needle*
nuko147@lemmy.world 4 months ago
If an AI bubble pops, no one is getting out clean.
He means the taxpayers.
e461h@sh.itjust.works 4 months ago
Privatize the profits, socialize the losses
conorab@lemmy.conorab.com 4 months ago
“We should privatise service X so it’s more efficient” X collapses “We can’t afford to let X fail despite the fact that it ran at massive profits all the way to it’s collapse so we’ll bail it out” THEN WHAT WAS THE POINT OF PRIVATISING IT IN THE FIRST PLACE?!
You can take on the burden of running the thing and therefore the cost of making it public, or you can allow it to be private with the caveat that they must pay a substantial (enough for the government to not be at a net loss) tax as a kind of insurance in the event a bailout is needed, but don’t take on the worst of both worlds where the profits are private and the losses are public.
ShaggySnacks@lemmy.myserv.one 4 months ago
Let the taxpayers prop up failing companies. Corpo welfare is the good kind of welfare even though most of the money gets sucked up by the Executives and share buy backs.
rumba@lemmy.zip 4 months ago
The amount of bailing out should be inversely proportionate to the amount of people fired during record profits.
TankovayaDiviziya@lemmy.world 4 months ago
At least China is right about not bailing out their companies when their own property bubble collapsed.
M0oP0o@mander.xyz 4 months ago
One can dream.
IAmNorRealTakeYourMeds@lemmy.world 4 months ago
you’re kidding right?
those billionaites that gambled the US economy on an executive borwnosing machine will get a bailout paid by those who lost healthcare and can’t afford food. 2008 all over again.
stormeuh@lemmy.world 4 months ago
It makes more sense if you read it as a threat.
explodicle@sh.itjust.works 4 months ago
We should improve society somewhat.
FinishingDutch@lemmy.world 4 months ago
I believe the French had a nice invention for that. And it’s not the ‘pain au chocolat’…
IAmNorRealTakeYourMeds@lemmy.world 4 months ago
that sounds like antiameticamism and therefore legally making you a terrorist
cosmicrookie@lemmy.world 4 months ago
Big tech has never seen common people as anything but data. It’s funny they now are concerned for what will happen to us if their bubble bursts
jjlinux@lemmy.zip 4 months ago
What’s funny is that you think they are concerned 🤣
bold_atlas@lemmy.world 4 months ago
I don’t think they believe the concern is real.
RememberTheApollo_@lemmy.world 4 months ago
“I’m gonna take you all down with me!”
Then I’ll ask for a bailout.
edgemaster72@lemmy.world 4 months ago
Don’t threaten my good time with a threat
buddascrayon@lemmy.world 4 months ago
Make no mistake. Just like the housing bubble of 2007 and 2008 there are people poised and ready to make tons of money off of the deflation of the AI bubble.
el_abuelo@programming.dev 4 months ago
The money to be made is on predicting when, not it it’s going to burst. Otherwise we’d all be betting the house on it.
buddascrayon@lemmy.world 4 months ago
Actually it’s more about the how. The people betting against the housing market put their chips down as early as 2005. They just had to find a way to profit from it.
SaveTheTuaHawk@lemmy.ca 4 months ago
yarr@feddit.nl 4 months ago
Don’t worry, I’m sure there will be a huge government bailout that the people have no say in. Remember 2008? I don’t remember voting to give away piles of money to the bankers.
You know what Iceland did when there was suspicious investing and they had bank failures? They put the bankers in jail! What did we do? We gave them a bonus!
God bless America, because we’ll need it!
pyria@kbin.melroy.org 4 months ago
America is really bizarro world compared to other countries and how they handle things like this.
Aceticon@lemmy.dbzer0.com 4 months ago
Nah, most of Europe did exactly the same thing as America last time around. Hell the EU went out of its way to make sure bankers didn’t lose money (how do you think Greek Debt which was entirely in private hands ended up in the hands of the EU, which then turned around and forced Austerity of Greece “to avoid losses of money of EU taxpayers”) - the Corruption was just as bad on this side of the pond as it was on the other.
Iceland stands out because they were almost unique in the West in making the bankers pay for their shenanigans.
CaptPretentious@lemmy.world 4 months ago
you can fail upwards, con people and still get out filthy rich.
Only if you con the poors. If you con someone who’s rich or “powerful”, then you get punished.
yarr@feddit.nl 4 months ago
It’s only bizarre until you realize this isn’t a failure of the system. This is a success for the people getting the payout. They have lobbied and deeply infiltrated the government. The US government doesn’t serve the citizenry anymore. It serves the rich and powerful. The rest of us are just useful as consumers to funnel money to the corporations.
puppinstuff@lemmy.ca 4 months ago
The sooner the better. Less LLM infatuation means better customer service, less overall environmental impact, and more water available to cities.
laranis@lemmy.zip 4 months ago
I agree, but the doomer in me just figures we’ll be on to the next grift. Fuck.
puppinstuff@lemmy.ca 4 months ago
I’m just hoping whatever comes next isn’t space junk that makes colonization and satellites in general impossible.
mp3@lemmy.ca 4 months ago
And lower RAM price.
the_q@lemmy.zip 4 months ago
That you still won’t be able to buy because the economy popped with the bubble.
sunbeam60@feddit.uk 4 months ago
The plumbers will. The electricians will. The carpenters will. The bricklayers will. The farmers will. The steel plant workers will. The dockyard workers will.
Yes, if you’ve got savings invested it’ll touch you, but the actual jobs - you know the ones adding and making real, concrete things, probably won’t notice a big different if the AI stocks tank 30% in a day.
Taldan@lemmy.world 4 months ago
Many electricians, carpenters, and steel plant workers are currently working to build AI data centers. Funding other projects has been postponed or cancelled as the AI data centers are able to pay more
Electricians especially. Trump cancelled many clean energy projects, which created large swaths of electricians without work if it weren’t for AI data centers
enumerator4829@sh.itjust.works 4 months ago
Who do you think pays for the bailouts in the end?
deliriousdreams@fedia.io 4 months ago
This is a threat. They know that they're using the stock market to find their greed and that anyone with saving tied up there (Retirement funds that are invested in the market) will be on the hook. Plus the tax payer money they're going to ask for because they're "too big to fail".
DSN9@lemmy.ml 4 months ago
I was opposed to the bailouts in 08’, and I’m severely against any of these fuckers getting more resources to attack me. It’s absurd. What’s more absurd is that both aisles will support it, but Americans healthcare will be at 5k a month 😂〽️
Cleptocracy much?
marud@piefed.marud.fr 4 months ago
I will get out totally clean of that, so thank you and fuck you
AngularViscosity@piefed.social 4 months ago
The sooner the better. Can’t wait!
Kaboom! 💣 💥
gravitas_deficiency@sh.itjust.works 4 months ago
Who is “no one”? Because yeah, there will be splash damage, but some sectors (“AI” companies and the megacorps involved in the massive ongoing self-dealing circlejerk) will collapse, but others will simply see a correction. And I’ve already dumped anything LLM-related (as well as most US-based securities and ETFs) as of early this year. So I’ll take a hit (everyone will take a hit), but it’s not going to be nearly as bad as it will be for all the bag holders.
Nalivai@lemmy.world 4 months ago
Tech companies will ask (and get) an enormous bailout so they don’t have to fire everyone, and then they will fire everyone anyway. In order to recoup some of the budget losses, King Trump will implement one or two more taxes
FergleFFergleson@infosec.pub 4 months ago
Let me fix that for you: “When an AI bubble pops…”
BradleyUffner@lemmy.world 4 months ago
“if all you plebs don’t do everything in your power to keep pushing this this bubble higher, I’m going to make sure you all feel the pain.”
TwinTitans@lemmy.world 4 months ago
Uh….well yeah.