Fuck AI

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"We did it, Patrick! We made a technological breakthrough!"

A place for all those who loathe AI to discuss things, post articles, and ridicule the AI hype. Proud supporter of working people. And proud booer of SXSW 2024.

AI, in this case, refers to LLMs, GPT technology, and anything listed as "AI" meant to increase market valuations.

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Your 401K Is Their Exit Strategy (SpaceX, Anthropic, OpenAI) [Video][34mins] (www.youtube.com)

submitted 4 hours ago by technocrit@lemmy.dbzer0.com to c/fuck_ai@lemmy.world

3 comments fedilink hide all child comments

So, we're living in a time that might be remembered as one of the biggest bubbles in history. And that's because in the next few weeks, your retirement account and your 401k is going to be buying shares in some of the biggest IPOs in human history, even though you might not want to. Okay, how's that going to happen? It's going to happen because the rules of the financial system were just rewritten to make sure that your money is going to be buying it automatically.

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[–] Greg@lemmy.ca 7 points 3 hours ago

It's a short term gain for some individuals deciding on fast track entry into the Nasdaq-100 and a long term erosion of trust in the Nasdaq as a whole. This feels like the coin clipping that happened as the Roman Empire faded.

[–] chocrates@piefed.world 19 points 4 hours ago (1 children)

S&P 500 just gave musk the middle finger though

[–] frizop@lemmy.world 6 points 3 hours ago

But the other index's didn't, e.g. nas100 and russells2000. So, lots of bag holders if that goes through.