Charlie StrossNov 14

Reminder that EVERYTHING Anthropic or OpenAI announce in public is propaganda designed to boost their market cap when they hit the IPO they're aiming for.

It's marketing, folks. There is no intelligence behind the artifice, it's just spicy autocomplete and hucksters in $5000 suits trying to pick your boss's pocket.
https://mastodon.social/@arstechnica/115548040527129225

Show threadMastodon Migration

@cstross

Since the 1990s every tech wave has been a pump and dump bubble laying the groundwork for the next pump and dump bubble. The staggering inefficiency of such a Ponzi economy, channelling capital into mega-billionaires pockets instead of productive growth is why China is rolling out 400 kph mag lev trains while we are shoveling brain dead software into toasters.

Nov 14 at 3:52pmWeb
Show threadnorapap 🏳️‍⚧️Nov 14
@mastodonmigration @cstross As Keynes says it: "The position is serious when enterprise becomes the bubble on a whirlpool of speculation. When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done"
Show threadMastodon MigrationNov 14

@nicopap @cstross

Knew we were in trouble when speaking to a group of young tech entrepreneurs who had no idea what a P&L statement was, but were very conversant in 'eyeball' metrics.

Show threadMichael GemarNov 14
@mastodonmigration @cstross @nicopap Vibe accounting.
Show threadMastodon MigrationNov 14

@michaelgemar @cstross @nicopap

Brilliant 👏

Show threadparanoia Agent RosenflowerNov 15

@mastodonmigration

you don't need to do P&L statements when you're never going to turn a P

@nicopap @cstross

Show threadideaPDishNov 15

@mastodonmigration @nicopap @cstross

Could be a covid metric. .
Inter pupil airy distance. > 6’

Show threadJonNov 14
@mastodonmigration @cstross toasters made in China.
Show threadYoraNov 14
@mastodonmigration It's not just tech.
This is post-capitalism.
Show threadAI is Woke ™Nov 14
@cstross @mastodonmigration “The staggering inefficiency of such a Ponzi economy, channelling capital into mega-billionaires pockets instead of productive growth is why China is rolling out 400 kph mag lev trains while we are shoveling brain dead software into toasters.”
Fucking gold right there!
Show threadslashNov 14

@mastodonmigration @cstross I've been a fan of the Austrian Business Cycle model. I believe real finance people have debunked it, but we sure seem to see the cycles anyway. Easy money is "invested" into worse and worse businesses, which -- surprisingly -- go bust and take the economy with it.

This AI bust coupled with current USA policies is going to bring (IMO) a world-wide Depression.

Show threadsynlogic4242Nov 14
@mastodonmigration @cstross nailed it. and western/northern Europe's quality of life is far higher than typical American
Show threadBibbleCoNov 14
@mastodonmigration @cstross 'I think you'll find it's a bit more complicated than that"
Show threadKevin RussellNov 14

@mastodonmigration @cstross

Not said better anywhere. Its not just theft and unfairness, its massively destructive.

Like supply side economics slows the economy to a standstill, while also starving people with no healthcare.

Its not just not worth protecting supply side accumulationist billionairism, its VITAL to get rid of it with fair wages and fair taxation.

Show threadrobloblawNov 15
@mastodonmigration @cstross
And other green transition climate tech.
Show threadGrumpy Grimnir Nov 16
@mastodonmigration @cstross Pretty much the standard model of capitalism. Booms and busts are built-in.