The US economy has grown increasingly concentrated in AI, with the biggest tech companies now making up a third of the value of the entire stock market.
icedragonsoul on
You know how companies are using AI as a scapegoat for getting out of being held legally liable? Well, they also want to crash the economy on their mark without being responsible for the backlash.
ebfortin on
This is so bad. It suck up all of the capital while other domains are left with pennies. If you don’t have AI somewhere in your pitch deck to investors they don’t even want to know you exist. This bubble has to pop. It’ll be better for everyone.
niberungvalesti on
Enshittification all the way down with no regulations or government checks to prevent what will likely be a catastrophic event for the average America when the house of cards topples.
What could possibly go wrong when one puts all their eggs in one basket!
JoseLunaArts on
During the Dotcom era, you bought a server, created a website that was a glorified brochure or a form, and you got investor money, even if you did not monetize anything. The digital transformation was the future, they said. But investor money stopped and companies crashed due to lack of a business model to bring profits, and that was the dotcom bubble.
Dotcom bubble = Website + Hype – Business model
Today we have Ai companies having losses, surviving only because investor money is being poured, and possibly even taxpayer money. AI still makes horrible mistakes due to hallucinations, and it is likely to continue. After years and years, Tesla cars still do not have autonomous cars to replace cab drivers. Same is likely to happen to AI chatbots at workplace. Imagine AI chatbot in tech support, it could make your technical problem worse. How about in legal affairs? Ai invents laws that do not exist. How about AI coding? Will lack awareness of cybersecurity.
AI bubble = AI + Hype – Business model
amkronos on
In order for AI to be profitable it needs to replace jobs. Replace enough jobs and who the hell is buying the shit/services these companies are providing?
Getafix69 on
It’s a desperate attempt to prevent economic collapse in my opinion, not going to argue politics but yeah I think we all know why.
Also I think China Ai is just better so I don’t think it’s a good gamble.
_chip on
It’s reflection on GDP growth, how long it will last is the question ? Also, it is not benefiting the country as a whole.
bdd6911 on
It isn’t. America has pivoted to services based vs manufacturing based. That needs to be fixed to regain strength. This is the latest soup du jour while we all try to pretend we don’t need to actually build things to survive economically. And Donnie’s moves on tariffs don’t fix it. Just minimal band aid if it even gains us anything. We can’t all be realtors or financial consultants and expect to compete globally. We need to make stuff too.
RobleViejo on
Billionaires werent making enough money so they are gonna leave everybody else without a job
This will end with a revolution
s0c1aL_Su1c1d3 on
AI needs to be regulated like globally everywhere… it’s taking away jobs due to “better efficiency” and being used maliciously by hackers and other people and u can’t really combat a smart intelligence like that because it will just alter/mutate itself like the flu or bird flu or Covid just to keep itself going and it’s annoyingly forcibly integrated into things where we have no choice but to have to use/utilize it even though it causes serious privacy concerns unles you go completely off grid. I hate how it’s forcibly implemented into things that we have no choice but to use it if we want to pay a bill or forced to use a kiosk at a hospital or some sort of electronic because that’s the only way they do things because it’s easier and more efficient for corporations and we can’t ever”opt” out of it. Hackers are using it now so it’s harder to combat them because they can and have hacked our nations systems multiple times and still continue to do so and testing the strengths of our infrastructure one at a time probably so they can eventually make them all come down at once in the United States and if/when that happens (because of recent events) it will completely break our country and send us back to the Stone Age because people rely too much on technology and even more so rely on AI wayyyy too much that they wouldn’t know how to live in a world without it. Luckily for me, I’m only 42 so I grew up knowing how life was before cell phones and such so I and some would be ok but most of the world and our infrastructures would be lost and broken.
AI introduces more privacy issues and we are being forced into accepting these things. Companies are utilizing AI into their systems to where you don’t have a choice to continue to use one of their older systems that doesn’t have any form of AI integration and it’s even with companies we have no choice but to rely on them like energy and gas and etc.
I’m a techy person but I will say I have mixed thoughts on AI … I think it could be amazing if it’s used correctly and not abused and it can be extremely beneficial but it’s not being used in that matter because it’s not regulated. So you can’t even believe what you see or hear these days and it’s unfortunate. It’s doing more harm than good right now I believe
AutisticMisandrist on
Good, that’s why US is ahead while EU is falling apart.
robosnake on
I love how we’ve basically just given up, and when we talk about the economy, we are just talking about five or six guys doing whatever the hell they want with everyone else’s money. We don’t even pretend to care what 99.9% of the rest of us want anymore.
smokingace182 on
So what if it takes away jobs from millions of Americans right?
billdietrich1 on
> The U.S. economy has grown increasingly concentrated in AI, with the biggest tech companies now making up about a third of the value of the entire stock market.
This seems misleading, to me. Yes, NVIDIA, Microsoft, Apple etc make up 1/3 of the stock market. But all their value does not go away if AI crashes all the way to zero (very unlikely IMO). Maybe those companies would lose 1/3 on their stock prices. So a 1/9 loss for the market.
sir_beak on
*quietly bets against AI and waits for the payout/temper tantrum*
Gamestonkape on
If it’s successful, everyone gets fired. If it’s not, the entire economy crashes. Wheeeeeeeeeeeeeee!!!
Tabris92 on
Anyone else looking forward to yet another “once in a lifetime economic crash?”
AGrandNewAdventure on
Not much of an economy to place bets against lately.
drdildamesh on
I thought we already lost this fight to China. Weren’t there articles months ago about that? Because they have infrastructure built up to support the energy use?
20 Comments
From the article
The US economy has grown increasingly concentrated in AI, with the biggest tech companies now making up a third of the value of the entire stock market.
You know how companies are using AI as a scapegoat for getting out of being held legally liable? Well, they also want to crash the economy on their mark without being responsible for the backlash.
This is so bad. It suck up all of the capital while other domains are left with pennies. If you don’t have AI somewhere in your pitch deck to investors they don’t even want to know you exist. This bubble has to pop. It’ll be better for everyone.
Enshittification all the way down with no regulations or government checks to prevent what will likely be a catastrophic event for the average America when the house of cards topples.
What could possibly go wrong when one puts all their eggs in one basket!
During the Dotcom era, you bought a server, created a website that was a glorified brochure or a form, and you got investor money, even if you did not monetize anything. The digital transformation was the future, they said. But investor money stopped and companies crashed due to lack of a business model to bring profits, and that was the dotcom bubble.
Dotcom bubble = Website + Hype – Business model
Today we have Ai companies having losses, surviving only because investor money is being poured, and possibly even taxpayer money. AI still makes horrible mistakes due to hallucinations, and it is likely to continue. After years and years, Tesla cars still do not have autonomous cars to replace cab drivers. Same is likely to happen to AI chatbots at workplace. Imagine AI chatbot in tech support, it could make your technical problem worse. How about in legal affairs? Ai invents laws that do not exist. How about AI coding? Will lack awareness of cybersecurity.
AI bubble = AI + Hype – Business model
In order for AI to be profitable it needs to replace jobs. Replace enough jobs and who the hell is buying the shit/services these companies are providing?
It’s a desperate attempt to prevent economic collapse in my opinion, not going to argue politics but yeah I think we all know why.
Also I think China Ai is just better so I don’t think it’s a good gamble.
It’s reflection on GDP growth, how long it will last is the question ? Also, it is not benefiting the country as a whole.
It isn’t. America has pivoted to services based vs manufacturing based. That needs to be fixed to regain strength. This is the latest soup du jour while we all try to pretend we don’t need to actually build things to survive economically. And Donnie’s moves on tariffs don’t fix it. Just minimal band aid if it even gains us anything. We can’t all be realtors or financial consultants and expect to compete globally. We need to make stuff too.
Billionaires werent making enough money so they are gonna leave everybody else without a job
This will end with a revolution
AI needs to be regulated like globally everywhere… it’s taking away jobs due to “better efficiency” and being used maliciously by hackers and other people and u can’t really combat a smart intelligence like that because it will just alter/mutate itself like the flu or bird flu or Covid just to keep itself going and it’s annoyingly forcibly integrated into things where we have no choice but to have to use/utilize it even though it causes serious privacy concerns unles you go completely off grid. I hate how it’s forcibly implemented into things that we have no choice but to use it if we want to pay a bill or forced to use a kiosk at a hospital or some sort of electronic because that’s the only way they do things because it’s easier and more efficient for corporations and we can’t ever”opt” out of it. Hackers are using it now so it’s harder to combat them because they can and have hacked our nations systems multiple times and still continue to do so and testing the strengths of our infrastructure one at a time probably so they can eventually make them all come down at once in the United States and if/when that happens (because of recent events) it will completely break our country and send us back to the Stone Age because people rely too much on technology and even more so rely on AI wayyyy too much that they wouldn’t know how to live in a world without it. Luckily for me, I’m only 42 so I grew up knowing how life was before cell phones and such so I and some would be ok but most of the world and our infrastructures would be lost and broken.
AI introduces more privacy issues and we are being forced into accepting these things. Companies are utilizing AI into their systems to where you don’t have a choice to continue to use one of their older systems that doesn’t have any form of AI integration and it’s even with companies we have no choice but to rely on them like energy and gas and etc.
I’m a techy person but I will say I have mixed thoughts on AI … I think it could be amazing if it’s used correctly and not abused and it can be extremely beneficial but it’s not being used in that matter because it’s not regulated. So you can’t even believe what you see or hear these days and it’s unfortunate. It’s doing more harm than good right now I believe
Good, that’s why US is ahead while EU is falling apart.
I love how we’ve basically just given up, and when we talk about the economy, we are just talking about five or six guys doing whatever the hell they want with everyone else’s money. We don’t even pretend to care what 99.9% of the rest of us want anymore.
So what if it takes away jobs from millions of Americans right?
> The U.S. economy has grown increasingly concentrated in AI, with the biggest tech companies now making up about a third of the value of the entire stock market.
This seems misleading, to me. Yes, NVIDIA, Microsoft, Apple etc make up 1/3 of the stock market. But all their value does not go away if AI crashes all the way to zero (very unlikely IMO). Maybe those companies would lose 1/3 on their stock prices. So a 1/9 loss for the market.
*quietly bets against AI and waits for the payout/temper tantrum*
If it’s successful, everyone gets fired. If it’s not, the entire economy crashes. Wheeeeeeeeeeeeeee!!!
Anyone else looking forward to yet another “once in a lifetime economic crash?”
Not much of an economy to place bets against lately.
I thought we already lost this fight to China. Weren’t there articles months ago about that? Because they have infrastructure built up to support the energy use?