Zack5d ago
God, this bubble burst is going to be so brutal
Show threadJustin Derrick5d ago

@zenhob I cashed out all my tech stocks back in January. I suspect this will be the dot-bomb v2.0, where everyone finally figures out that LLMs and the hundreds of billions of dollars invested would have been better off getting tossed into a dumpster and just lit on fire.

They're impressive chatbots, but not useful for anything of consequence. They can't do math, they can't play games, they get basic facts wrong, they can be manipulated into being complicit in crimes, etc.

Show threadDataless
@JustinDerrick @zenhob @artemis so much could be done with the money they’ve wasted on this.
Jun 20 at 11:02pmWeb
Show threadJustin Derrick5d ago
@Dataless @zenhob @artemis Yeah, but that's true of the hundreds of billions of wealth in the hands of individuals. It should have been taxed the way it was in the 50's and 60's -- at a 90% marginal tax rate.
Show threadDataless5d ago
@JustinDerrick @zenhob @artemis well, yes, but this does feel particularly egregious.
Show threadAccordionBruce4d ago

@JustinDerrick @Dataless @zenhob @artemis
I agree. Though I suppose then they’d all try harder to hide their money in anonymous accounts and invest in “crypto for billionaires”

They’ve got everything propping up unaffordable international housing prices now

Honest question: If the wealthy’s billions disappear what happens to the economy?

They could still personally buy as much lifestyle as they want

If their cash hoard was not sloshing around in the real world would that be bad or good?

Show threadAnarchy How1d ago
@AccordionBruce @JustinDerrick @Dataless @zenhob @artemis all economies are really human economies. Shit might improve
Show threadMidgePhoto4d ago

@Dataless @JustinDerrick @zenhob @artemis

Money is a convenient fiction, but a lot of time was used on this.
And some of the people are capable of useful work.