To disarm the big tech bomb, including “AI”, the public needs to be on high alert — as AI firms start to visibly wobble, we need clear demands and firm commitments from our leaders that if it all comes crashing down, the public won’t be the one left holding the bag.
Fight it? If you want to fight it you need to get rid of the pedo in charge and i bet you anything you want that the bailout is already on paper just waiting for the right moment to be signed.
The fight was lost the second agent orange was back in the White House and now drastic measures are necessary.
No bailouts. Nationalization.
What if we just let PE burn? That would rule
The AI bailout already happened, the US government is pumping infinite money into it through their military arm.
The money that paid for AI was in spirit taken from us by greed and excess, now they want our money again to cover the losses from taking our money in the first place. This is really maybe the sickest joke, pulled on the most people of all time.
Ah, socialism. But only for the ultra rich.
The AI bailout will happen: the tech bros made sure of it by tying their stock to the working stiffs’ 401Ks through S&P500 index funds. It was a brilliant scam and they pulled it off without any trouble in Trump’s fasch-land.
Just saying, if everyone were to actually call their retirement fund manager and have them divest your 401k away from these assholes, that can be done. Then they would be left with the bag, not us.
But getting 100M people to do anything is nearly impossible.
Most folks don’t have a “retirement fund manager”, they just have a web portal with their company’s plan with the same 10 shitty target date funds.
You have a number you can call, and there is an agent you can speak with about what’s being done with your investments.
It is your money and you can put it where you want.
It is just super inconvenient.
Go ask your HR person how to contact them. It’s all they’re good for.
We don’t even have onsite HR lmao
Make an infograph and we share it in a social media campaign.
It’s worth mentioning that multiple exchanges changed their index inclusion rules this year. Nasdaq only requires 15 days subsequent to an IPO for inclusion in the Nasdaq100 as opposed to what was previously three months.
Most retirement plans actually give you a number of other investment options besides those target date funds. The trouble is that you have to login and change your investments to small/med cap or international funds, and I believe only a minority of people have the wherewithal to do that
This is true. There’s also the “company match” that happens with up to 6%. Corporate is handling it, and the “match”, there’s no retirement agent to call.
Match means they match your contribution. (Up to x% of your salary, not everyone sees the 6% match you mentioned sometimes is 3%, sometimes it’s 10%. Depends on company… It varies a lot.)
So like if they match 5% and you make 100k, and you elect 5% to your 401k, then the company also contributes 5% of your salary to your 401k. If they match 5% and you contribute 1% of your salary they MATCH 1% of your salary to your 401k. Your 401k is yours. You can tell the managers of it to put it where you want, but it goes somewhere your org wants it to by default.
That includes where you invest your contribution.
By default your company invests in a bunch of s&p 500 index funds, probably.
You could tell them to yolo the whole 6% of your salary they match on Tesla, Gold futures, Pepsi, whatever you want.
Yes, mileage varies. There’s also a vested (work for that company X years before you keep that portion when you leave) aspect before you get to keep the employer contribution, and the remain separate accounts.
Who is the “they” you call? HR? An 800 number? It’s clear as mud at a first look. The point being, most people aren’t even going to know who to call for this. Most work retirement packages are a click once and forget type deal. Can you find the info? Yes. But it takes work. And remembering that you even have this click and forget thing attached to your workplace. That’s just people though.
Oh but private retirement funds are so much more “efficient” and have no bureaucracy! That’s what they tell you anyway. About as useful as private health insurance.
Wouldn’t matter much anyway in this case. They were always going to find a way to stick us with the bill. Hope everyone is ready for Great Depression 2: AI Slop Boogaloo!
It will happen. I was browsing this while logged out and can’t respond to the person I would like to because they’re invisible to me. The thing about bailouts is that they will likely go to the big dogs and not the actual AI companies. Microsoft, Meta, Google, NVIDIA, Amazon… They’ll get bailed out. OpenAI and Anthropic will get consumed/sold off. We’ll likely see a bidding war for their assets because while they are over valued, they are not without value, and since most of us believe all of this is a push is for cloud computing I would bet. The bubble pop will be consolidation and a push for more cloud-based saas infrastructure.
My opinion has been that all this AI bubble noise has basically just been the R&D phase of a larger rollout. I would be concerned with which company ends up with those assets because that will be a big indicator of future plans in the sector.
Oh, I don’t think you should include Meta on that list. I have a sneaking suspicion they’re going to be the Lehman Brothers of this crash.
You know…that’s fair. I can see Musk trying to take Meta. or Google.
This is what see happening too, just like the last time we did a big bailout for the banks. Wells Fargo, B of A, and JP Morgen Chase got to pick off the littler guys like Wachovia and Washington Mutual and they also got to get get tax payer funds to cover their losses.
Cloud-based saas infrastructure is the bailout. Anything else on that is gravy.
We are all their hostages
Will they ask for a bailout? Or will these sociopaths just end society as they’ve been preparing for with their doomsday bunkers and amassing more resources than all of history combined?
They’ve already said out loud they think most of us are a drain on them and that they think a ‘global reset’ is overdue, and have openly talked about a mass culling, after which they’ll emerge as kings of the new world.
I think we should be less concerned about bailouts here and more concerned that they have the means to enact their doomsday fantasies.
These tech bros sat in the first row of Trump’s inauguration. In front of his cabinet. Held inside. Away from the public. Their full priorities are on display. I’m sure somewhere Cutis Yarvin had an orgasm.
DOJ (Trump submissive) tried to argue that Musk/Xai should not be liable for pollution from their BS unpermitted gas turbines on wheels that have stayed longer than “temporary allowed” duration. They said national security importance of AI means that neither removal nor damages to population affected should be considered. Judged called BS, but that is what DOJ tried to do. DOJ is likely to pay for Musk/Xai defense for appeals to SCOTUS.
There are still enough vultures that can take assets from bankruptcy. In their byline, coreweave is at head of domino chain. Nvidia is at the end. It definitely would be disgraceful to sink “all our money” into protecting stock values behind skynet, but the most obvious means of propping up the bubble is for skynet project to buy all the tokens.
Billionaires already have all the money. How does anyone else bail their asses out?
banks got bailed out in 2008, they continued doing banks services afterwards. AI companies get bailed out and then what? more slop?
I’m totally out, this has been brewing for years.
Firm commitments from leaders are nice, but completely worthless. They don’t keep their word, they’ll all make a fortune off of it, too. It’s amazing how everyone in congress is an expert stock trader that can’t fail, ain’t it?
The public will be the one left holding the bag, plan accordingly
We don’t have the money for a bailout this time.
This is accelerationism. We must bail out with calm those that should survive. Running damage control is good, actually. Save the economy, not OpenAI.
Privatize profits, socialize losses, right?
don’t save open AI, but maybe don’t let it propagate into a banking and financial systems crash. And preserve technology that is legitimately cool like efficient gpus. That compute exists now. And I want people to do productive things with it, like enabling the next generation of chip production.
Please refer to my previous comment.
There is a difference from socializing losses and just minimizing collateral damage to the people. We shouldn’t repeat the 20s/30s.
The way to change the cycle of boom and bust, where the wealthy enjoy the boom and the rest of us pay for and suffer the bust, is to make it unprofitable by not bailing out failed institutions.
That’s a recipe for economic death. Institutions are what defines nations economic lifeblood. There was a nobel price for econ for that last year or so. Let the companies die and capital redistribute. Let PE suffer. Don’t go down with the ship like a mariner when you can be saved at no net cost, but benefit to society. (History fun: apparently this was an issue in the past)
Myself and my kin benefit from a global economic crash with no bail out. I lose nothing as I have never invested, I’ve pivoted out of tech and have no interest in going back to a role that a chatbot can replace (easily). Best case scenario, I get communism, worst case scenario I get to watch tech billionaires publicly executed.
Own less, want less, need less.
Healthy institutions, not irresponsible and/or speculative ones.
Absolutely not. And woe be to the politician that says otherwise. These companies need to fail cleanly because they cannot be allowed to think their recklessness is condoned by the people. No net for anyone involved with this bullshit. No bank, no private investor taking losses on what is unequivocally an attempted murder of their neighbours should be given refuge. They should be thankful we’re not calling for prison.
I don’t think Microsoft or Nvidia vanishing from the face of the earth would be a met benefit. They hold so much institutional knowledge and customers that bricking those systems or not being able to GPU anymore might be… Not great.
You can’t buy a GPU NOW, and if Microsoft is so over committed to AI that it takes them out entirely and they completely tank when the bubble pops, then we were in far more danger from their bad decisions than we are of losing them.
I know it’s scary. It should be. We are all in grave danger because of them. There IS no good outcome here and they knew, or should have known that before they started down this road. If we keep saving them from their bad decisions, they’re just going to keep making them.
GPUs are available right now. Just not at MSRP because they don’t dare having real world/market rate in their ads.
Right, like that makes a gigantic difference. The Hope Diamond exists to, but 45ct diamonds aren’t a consumer good.
Yeah, but diamonds can be bought with ease. So can the 5090, if you got the money.
And most diamonds and GPUs aren’t… Those.
Yeah, I can buy a 10 year old 1080. If someone Thanos Snapped Nvidia out of existence tomorrow that will still be true. AMD and Intel aren’t nearly as far out over their skis as Nvidia and someone’s going to pick up their IP portfolio. TSMC doesn’t care who is ordering the chips they print, they’re just going to print whatever makes them money. So yeah, it sucks to work for Nvidia in that case. It sucks, though not nearly as hard, to be deeply invested in Nvidia, but they didn’t have to bet the farm on Tulips either.
I don’t think Microsoft or Nvidia vanishing from the face of the earth would be a met benefit.
Shutting down Microsoft would have been a good thing since the year 2000.
Why? Nvidia does not provide clean water, food, shelter, or medicine. They are not essential
Nvidia will be fine, they’re the shovel seller in this gold rush scenario. The ones that are going to be up a creek are the corporations that are borrowing significant chunks of their revenue to buy up hardware and attempt to recoup that loss without any actual plan for how that’s going to work. The small to medium companies that are rushing to get anything AI on the market are going to be toast. The big corporations will feel the pinch, probably do some layoffs, but they’ll survive.
The economy is already in the toilet. Don’t bail those fuckers out.
I.e. accelerationism good?
Letting worthless companies fail isn’t accelerationism.
