This relies heavily on insinuation. Am I supposed to be confident this animator knows Sam Altman is nervous and terrified behind the scenes? Every third sentence implies something.
I really think AI is a product of bad monetary economics. Most people don't see the connection but it is there. When you have artificially low interest rates it changes what the market calculates as being valuable. With natural interest rates you get a balance of improving conditions now and in the future. With low interest rates you get highly financed speculative plots to take over the world eventually.
"But isn't all this economic activity great. GDP is looking good." Yeah, but that economic activity is a rent seeking race to be the person to fuck the world. The cat's out of the bag. So really we needed people to understand that concept 10 years prior.
If we want to undo the AI timeline our best bet is to raise interest rates sharply. An EMP isn't going to do it. But with these companies having bad financials a sudden jolt to interest rates would shut them right down. Would it cause a recession? Absolutely. But an internet wiping EMP wouldn't be fun either. The question is if experiencing one recession is worth preventing AI doom. I think so.
But as much as I am 100% confident in my economic views, sadly you can't sell this concept to most people because they aren't interested in understanding it. And it will be their doom. All they want is more house for less money a month and jobs. Mises couldn't get Keynes to care about how interest rates effect capital structures. How would we get average people to care?
Also, this idea that because it is a financial bubble that everything will go back to normal eventually. Nope. The dot com bubble was a bubble. Did the internet stop happening? There is a difference between a financial bubble and a technology bubble. It's not a technology bubble. Once the R&D happens it has happened. You don't get to undo that part. If humanity has miscalculated where to put R&D efforts (because of a manipulated market) then we are going to get technology that isn't good for us.
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This relies heavily on insinuation. Am I supposed to be confident this animator knows Sam Altman is nervous and terrified behind the scenes? Every third sentence implies something.
I really think AI is a product of bad monetary economics. Most people don't see the connection but it is there. When you have artificially low interest rates it changes what the market calculates as being valuable. With natural interest rates you get a balance of improving conditions now and in the future. With low interest rates you get highly financed speculative plots to take over the world eventually.
"But isn't all this economic activity great. GDP is looking good." Yeah, but that economic activity is a rent seeking race to be the person to fuck the world. The cat's out of the bag. So really we needed people to understand that concept 10 years prior.
If we want to undo the AI timeline our best bet is to raise interest rates sharply. An EMP isn't going to do it. But with these companies having bad financials a sudden jolt to interest rates would shut them right down. Would it cause a recession? Absolutely. But an internet wiping EMP wouldn't be fun either. The question is if experiencing one recession is worth preventing AI doom. I think so.
But as much as I am 100% confident in my economic views, sadly you can't sell this concept to most people because they aren't interested in understanding it. And it will be their doom. All they want is more house for less money a month and jobs. Mises couldn't get Keynes to care about how interest rates effect capital structures. How would we get average people to care?
Also, this idea that because it is a financial bubble that everything will go back to normal eventually. Nope. The dot com bubble was a bubble. Did the internet stop happening? There is a difference between a financial bubble and a technology bubble. It's not a technology bubble. Once the R&D happens it has happened. You don't get to undo that part. If humanity has miscalculated where to put R&D efforts (because of a manipulated market) then we are going to get technology that isn't good for us.