Technology

Too big to fail is too big to exist. Break them up.

If an AI bubble pops, no one is getting out clean.

He means the taxpayers.

Was that a threat?

And I hope he wasn’t threatening everyone who participates in the global economy.

Wall Street didn't learn from past events and is doomed to repeat history?

Shocking... /s

[he] addressed the “immense” energy needs of AI, acknowledging that the intensive energy requirements of expanding AI ventures have caused slippage on Alphabet’s climate targets. However, Pichai insisted that the company still wants to achieve net zero by 2030 through investments in new energy technologies. “The rate at which we were hoping to make progress will be impacted,” Pichai said, warning that constraining an economy based on energy “will have consequences.”

We need "line go up" so badly, we're willing to bake the planet.

“We will have to work through societal disruptions,” he said, adding that the technology would “create new opportunities” and “evolve and transition certain jobs.”

Someone once described AI as "a way for the wealthy to access the benefits of the skilled, without allowing the skilled to access the benefits of wealth".

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.

Let's be very clear: Pichai is one of the Very Big Assholes whose name should be uttered in the same breath with Thiel, Altman, Zuckerberg etc.

He drew comparisons to the late 1990s Internet boom, which saw early Internet company valuations surge before collapsing in 2000, leading to bankruptcies and job losses.

“We can look back at the Internet right now. There was clearly a lot of excess investment, but none of us would question whether the Internet was profound,” Pichai said. “I expect AI to be the same. So I think it’s both rational and there are elements of irrationality through a moment like this.”

Equating the dot-com bubble with the internet. Only a $trillion company CEO could spout such bs. And the misinterpretation translates very well to AI.

Frankly, what I'm getting from this article is "Hey, we're not the #1 in the current hype, so would everybody else please slow down a little so we're all at least on equal footing again?"

And the idea that it could all burst, leaving not only Google/Alphabet utterly destroyed - don't threaten me with a good time, Sundai!

This is a threat. They know that they're using the stock market to fund their greed and that anyone with savings 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".

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.

Let me fix that for you: "When an AI bubble pops..."

“I’m gonna take you all down with me!”

Then I’ll ask for a sweet socialist bailout while the rest of you enjoy rugged capitalism.

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.

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!

Due to the sheer number of articles surrounding the AI bubble popping; I'm coming to the conclusion that this has already started.

Any company not using AI for anything will be pretty unaffected when this bubble pops.

The sooner the better. Can't wait!

Kaboom! 💣 💥

Good good. Let it all fall apart.

The sooner the better. Less LLM infatuation means better customer service, less overall environmental impact, and more water available to cities.

This is code for "Hey government, you better be ready to bail us all out".

Oh, that's where he's wrong. I think a great many of us will enjoy it.

The utter lack of self-awareness…

That money goes somewhere so some people will be getting out better

I've taken shits with more value to the human race than Sundar Prichai

That sounds like a threat

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

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.