It is 'nearly unavoidable' that AI will cause a financial crash within a decade, SEC head says
It is 'nearly unavoidable' that AI will cause a financial crash within a decade, SEC head says
Garry Gensler told the Financial Times that AI could cause a financial crash as soon as the late 2020s or early 2030s.
It is 'nearly unavoidable' that AI will cause a financial crash within a decade, SEC head says::undefined
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Good, let it all collapse. I want to see the 1% shit themselves before climate change kills them.
That's not who suffers most in financial collapse.
Bingo. The super-rich love a financial collapse, it gives them a golden opportunity to turn disaster capitalist. All those foreclosed homes & businesses available at a knockdown price, nom nom nom.
I need to get off lemmy. Too many teenagers on here with their "burn it all down"s and "trust me, I have a super easy solution to a giant complex problem that has been plaguing humanity for generarions"s and "the bad guys are actually good guys, lol I'm so edgy"s
now now, no need to be dismissive of other age groups in this matter. I'm sure there's plenty of non-teenager people that think the same way too. on the internet, nobody knows you're a 74 yr old extremist
Is this suddenly a teenager platform whenever you want to infantilize the ones you disagree with?
No? It's...just always a teenager platform? It's not like the users change age from day to day.
Except for the fact that people literally do change age from day to day. Another day older.
Holy fuck, the level of immaturity and pedantry was even greater than I could have anticipated. Well done, you have out-teenagered yourself.
The only immaturity I see is the person throwing around ageist ad hominems in response to someone making a joke.
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So, how do we engineer a situation in which the richest suffer most? End of capitalism?
Greatly increasing taxes for the super wealthy and closing tax loopholes would be a good start.
If they haven't done all this until now, what makes you think they'll do it then?
The rich will get off unscathed with a blank canvas to work on, and the poor will pay the price, just like with every other market crash.
Historically riots, mobs, and terror have been the answer. See the origins of the luddites, saboteurs, the French revolution(s), the socialist movement, etc.
The luddites failed and the French revolutions ended poorly for everyone. Not exactly the best examples to draw from if you are trying to encourage violent rebellion.
I'm not encouraging violent rebellion, I'm simply saying the powerful have historically only ever been checked by property damage, terror, and blood, or at least fear thereof.
But you bring up a good point, none of the checks come cheap, they will fight back, and the more of a head start they have, the more they have to throw against you. If there's not enough of you, they will prevail and you will be slandered like the luddites.
If there are enough of you, you will be remembered as the heroes of the revolution and usher in the new era, much like the Republic of France, the worker rights movement, the USSR, the US, the Enlightenment, etc.
I'm not encouraging violent rebellion,
Ok good.
I'm simply saying the powerful have historically only ever been checked by property damage, terror, and blood, or at least fear thereof.
Nevermind. You just did an immediate 180.
I was thinking more along the lines of mad max.
Invent a system of money in which they are no longer in control of it.