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AI one-percenters seizing power forever is the real doomsday scenario, warns AI godfather
(www.businessinsider.com)
this post was submitted on 30 Oct 2023
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Technology
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At first the fear mongering was about how AI is so good that you'll be able to replace your entire workforce with it for a fraction of the cost, which would be sooo horrible. Pwease investors pwease oh pwease stop investing in my company uwu
Now they're straight up saying that the people who invest the most in AI will dominate the world. If tech companies were really all that scared of AI they would be calling for more regulations yet none of these people ever seem to be interested in that at all.
I think you've spotted the grift here. AI investment has faltered quickly, so a final pump before the dump. Get the suckers thinking it's a no-brainer and dump the shitty stock. Business insider caring for humanity lol
I love hearing these takes.
"TVs are just a fad. All the good content is on radio!"
"The Internet is just a sandbox for nerds. No normal person will use it."
"AI is just a grift. It won't ever be useful."
Lmao sure Jan.
AI has been, is and will be very useful, but it's in an over hype phase poised for a drop. I don't think you understood what I was saying
AI isn't a stock.
This is not how investment capital works.
I understood what you were saying.
No but investments into AI from companies has completely ballooned stock prices of certain companies, which is due for a correction.
This is exactly how investment capital works. You pump gain value on the up side and dump while getting into short positions to profit from the creation and implosion of a bubble. They then before a bubble burst draw up public support to unload the bags on. Risne repeat and move on, it's the playbook for VC.....
Investment capital and stock purchases are different things.
VC means "venture capitalist" and the "venture" part is when you invest in a private (i.e. "doesn't have stock") company. You may have confused this with VCs wanting to get in early before an IPO (Initial Public Offering), so they can get out big and early.
So no, this is not how any of this works.
Very few AI companies are publicly traded, because the industry is still almost entirely startups (hence the capital interest)
Contrary to what GME cultists will tell you, pump and dumps are pretty rare outside of crypto. Crypto is vulnerable to it because there are no fundamentals and market value based is entirely on speculation.
No shit, it's why if you are in the market to offset risk you are going to open a short position through your family office once that company eventually tries to IPO which is able to skirt reporting requirements via equity swaps. As I said investment captial is used for pumping and artificially moving goal posts so that post eventual ipo you can have untenable growth targets that justifies your new found short exposure for those "fundamentals" you describe.
Yes as I explained, they use private investment before public scrutiny to create untenable growth targets, generate hype around the ipo, cash out and short the fucker to the ground to essentially doubling any gains. It's extremely common place, which is why it's always a trope around VC firms and their evaluations in any business type media.
Yes once again this exactly how this all works.
How many times does one need to state the bubble is not on the AI tech itself, it's on those companies introducing AI into their workflow where the asset bubble is occurring as they are inflating the gains AI will actually bring. The VC funds are there so that the AI companies can be sized up with untenable growth projections and evaluations to prevent long term growth allowing companies like Microsoft to come in and scoop up the IP for significantly cheaper than developing it themselves, cough openAI cough cough.
Fuck you wall street shills are always so predictable, no one is a cultist with GME we are all household investors who saw a completely overshorted company and invested. Continued to investigate the market and are now trying to apply regulatory pressure as individuals to make sure we have the same access and ability to work in our financial markets as any wall street company does. Pump and dumps are not rare outside of crypto, for fucks sake just listen to cramer for a week you probably identified 10 stocks being gamed as he tries to sell his viewers on that "investment". Granted most money on your general stock market is siphoned off using off exchange trading, pfof, and etf share fabrication under market making exemptions.
Imagine knowing so little but writing so much.
Bonus funny points for calling me a "wall street shill" in a thread about an interaction that specifically does not involve the stock market.
Lmao this explains so much. TO THE MOOOOOOON
Lmao ok bud if that was true refute this "nonsense" right? Or do you not want me pointing to the constant fines handed out in regards to this shit? Do you want me to explain the legal loopholes in the regulations governing our markets that you will want to point to as proof this isn't a widespread issue?
Bonus points for sneaking in a GME subversion that had no relevance in the first place to try and make it seem anyone talking about market reform is some cultist. It's a tell for meltdowners and shills lmaoo.
Damn I really love all the space in your brain I get to take up rent free it's so spacious in here with your lack of critical thinking skills, ahhhhh so comfy.