Yup. Had this dream about two months ago while in Vegas with a buddy for a concert, cept it was a urinal, and I was awoken to trying to piss in the corner of the hotel room.
Don't get me wrong, I certainly think AI/LLMs have their uses, more as an aid to humans. Medical diagnostics, front line customer service, clerical, every industry could benefit from having a computer doing basic to even advanced level support. What we're seeing now though is all these execs think that the tech is at the level where it can replace entire workforces, and that's where the fallacy lies. Imo, humans should always make the final judgement, especially when these decisions involve affecting other people. It has the ability to improve and enrich lives, but the way things are going is that they'll be used to make the line go up at the expense of people.
If I had to guess, the entire reason they're shoving AI integration into absolutely everything is to try to make it irreplaceably viable, if only to keep it relevant. The bubble pops when VC funding decides that maybe AI isn't the holy grail they thought it was and the market on it tanks (bringing every associated stock down with it). Personally, I'm wondering if this bubble is what brings the house of cards down with it, because the amount of money that is all in on AI is absolutely insane, and for no good reason.
I'm fairly certain this is why the current administration is so vehement about not letting anyone regulate AI. We know it's bubbling, they know it's bubbling. It's only a matter of time before the market finds irrefutable proof that AI has been oversold and investors bail.
I'm kinda with this. He was the absolute best on the Colbert Report, but the second he went mainstream, he lost his luster. Hopefully he finds a new show to host where he can get back to his roots.
Historically, a bank note was the equivalent to a fixed amount of gold. However this fell apart due to the volatility of gold once it became traded as a commodity on stock exchanges, as well as when other nations abandoned their own gold standards. Iirc the reason virtually no countries peg their currencies to gold is due to the fact that doing so limits the ability of governments to enact flexible monetary policy (ie QE) in times of economic hardship, or to influence the stability of a given economy (as Powell is doing niw by keeping interest rates up to prevent hyperinflation). It also severely disadvantages nations that do not have gold deposits, and limits the global economy as a result.
Note: I'm an armchair economist, everything here is as far as I understand it and could be wildly wrong, but I try to read/listen to proper economists and not yahoos spouting off in TV.
Right, but as it sits, the USD is extraordinarily inflated compared to the price of gold. I really hope Trump and his goons don't try to say, "as of today, the USD is now worth $x," because that won't fly with the rest of the financial world.
I was talking about going back to the gold standard, you're talking about devaluing the USD to insane levels and obliterating the global economy. Eliminating the Fed and moving all monetary policy under the treasury would destroy the remaining faith in the USD, as the US Govt would have direct control, and traditionally, the stability of the USD was respected because of the independence of the Fed.
Yup. Had this dream about two months ago while in Vegas with a buddy for a concert, cept it was a urinal, and I was awoken to trying to piss in the corner of the hotel room.