This is a most excellent place for technology news and articles.
The biggest mistake we made after the last financial crisis was not putting heads on pikes. Justice should be far more punishing if it's ever going to threaten white collar criminals.
I'm not holding my breath, but I hope current political extremism breeds actual consequences for the wealthy elite this time around.
As a millennial, I've developed a baseline immunity to once in a lifetime devastating economic collapse.
I've never had any savings that can be influenced by a stockmarket crash, so I'll be fine
Hopefully that's a joke
Only half
Gen X here - we had a good quiet 20 years and then everything went entirely to hell.
The official Gen X response is: whatever...
Just a tuesday
AI stays: Wealth consolidation
Bubble bursts: Wealth consolidation
You are fucked either way
Tanking the financial system by means of the AI bubble bursting, right?
“Whoops, our AI agent went rogue and took all your money.”
Would FDIC apply in this scenario? It should, since it's effectively bank robbing, but my guess is they'll have some excuse for why your money isn't insured specifically for AI agent theft.
"Only humans can commit theft" probably
Still blaming AI for everything they do themselves I see.
AI does not do anything by itself - it only does whats instructed
This. So much this
An AI CEO advising people to stock cash, food and a hand crank radio in case AI takes down banking is some spectacular product marketing. Silicon Valley spent years insisting AI would run everything. Now the contingency plan is to make sure nothing you own needs a computer. Progress! 😳
imagine this kind of product marketing in 90s or something. "Hey everyone! We made something that is really really bad and dangerous (but also oh so very potent!!), it will end the world as we know it in a bad way just any day now! Look out, there it potentially goes! Soon we will be out of electricity and food, banks will collapse and nukes will fly! Isnt our product wonderful!!!"
Not only has the other shoe dropped for the world, entire warddrobe got thrown out as well.
plus, if the financial system collapses the cash won't be worth the paper it's printed on.
No way AI is taking down the financial system.
It's all fearmongering and doomerism.
They will try and pass the fallout onto the people, similarly to how they did in 2008, with the mortgages being used to hedge their stock market bets (bad ones at that) after regulations were removed to safeguard that from happening and people lost their homes, the banks got bailed out. The people responsible got no punishment. They do this same shit all the time. They shoot too high hoping it'll catch on, and if it doesn't they don't pay the price. This time, we need to stand with whomever wears the cost and make sure the richest are the ones who pay. The ones responsible for this. They all go under, or we take them down.
Eta, this article is bullshit tho
AI won’t, but the entities responsible for it will.
Perhaps not AI itself and perhaps not the actual system, but if/when the bubble bursts it absolutely will do a lot of financial damage.
Why would I stock up when the rich already did it for me?
How many times has it been the end of the world? When I was a kid, it was the Cold War, every day the newspapers had articles about how we were on the verge of nuclear war. Famine was another, there was not enough water for the crops. There was AIDS, we were all going to get ill and die of Kaposi's Sarcoma. There's got to be a list of these somewhere...
