Was that a threat?
And I hope he wasn’t threatening everyone who participates in the global economy.
Was that a threat?
“Google might break! Please be careful!” - the threat of a good time.
What part of that article read like a threat to you lol
If an AI bubble pops, no one is getting out clean.
He means the taxpayers.
Privatize the profits, socialize the losses
“We should privatise service X so it’s more efficient” X collapses “We can’t afford to let X fail despite the fact that it ran at massive profits all the way to it’s collapse so we’ll bail it out” THEN WHAT WAS THE POINT OF PRIVATISING IT IN THE FIRST PLACE?!
You can take on the burden of running the thing and therefore the cost of making it public, or you can allow it to be private with the caveat that they must pay a substantial (enough for the government to not be at a net loss) tax as a kind of insurance in the event a bailout is needed, but don’t take on the worst of both worlds where the profits are private and the losses are public.
Let’s be very clear: Pichai is one of the Very Big Assholes whose name should be uttered in the same breath with Thiel, Altman, Zuckerberg etc.
He drew comparisons to the late 1990s Internet boom, which saw early Internet company valuations surge before collapsing in 2000, leading to bankruptcies and job losses.
“We can look back at the Internet right now. There was clearly a lot of excess investment, but none of us would question whether the Internet was profound,” Pichai said. “I expect AI to be the same. So I think it’s both rational and there are elements of irrationality through a moment like this.”
Equating the dot-com bubble with the internet. Only a $trillion company CEO could spout such bs. And the misinterpretation translates very well to AI.
Frankly, what I’m getting from this article is “Hey, we’re not the #1 in the current hype, so would everybody else please slow down a little so we’re all at least on equal footing again?”
And the idea that it could all burst, leaving not only Google/Alphabet utterly destroyed - don’t threaten me with a good time, Sundai!
This is a threat. They know that they’re using the stock market to fund their greed and that anyone with savings tied up there (Retirement funds that are invested in the market) will be on the hook. Plus the tax payer money they’re going to ask for because they’re “too big to fail”.
The sooner the better. Can’t wait!
Kaboom! 💣 💥
Good good. Let it all fall apart.
Don’t worry, I’m sure there will be a huge government bailout that the people have no say in. Remember 2008? I don’t remember voting to give away piles of money to the bankers.
You know what Iceland did when there was suspicious investing and they had bank failures? They put the bankers in jail! What did we do? We gave them a bonus!
God bless America, because we’ll need it!
America is really bizarro world compared to other countries and how they handle things like this.
It just seems like in America, you can fail upwards, con people and still get out filthy rich.
It’s only bizarre until you realize this isn’t a failure of the system. This is a success for the people getting the payout. They have lobbied and deeply infiltrated the government. The US government doesn’t serve the citizenry anymore. It serves the rich and powerful. The rest of us are just useful as consumers to funnel money to the corporations.
Nah, most of Europe did exactly the same thing as America last time around. Hell the EU went out of its way to make sure bankers didn’t lose money (how do you think Greek Debt which was entirely in private hands ended up in the hands of the EU, which then turned around and forced Austerity of Greece “to avoid losses of money of EU taxpayers”) - the Corruption was just as bad on this side of the pond as it was on the other.
Iceland stands out because they were almost unique in the West in making the bankers pay for their shenanigans.
“I’m gonna take you all down with me!”
Then I’ll ask for a sweet socialist bailout while the rest of you enjoy rugged capitalism.
I’ll be fine.
This is code for “Hey government, you better be ready to bail us all out”.
That sounds like a threat
I’m waiting with money to buy Google for 1 dollar.
Who is “no one”? Because yeah, there will be splash damage, but some sectors (“AI” companies and the megacorps involved in the massive ongoing self-dealing circlejerk) will collapse, but others will simply see a correction. And I’ve already dumped anything LLM-related (as well as most US-based securities and ETFs) as of early this year. So I’ll take a hit (everyone will take a hit), but it’s not going to be nearly as bad as it will be for all the bag holders.
The plumbers will. The electricians will. The carpenters will. The bricklayers will. The farmers will. The steel plant workers will. The dockyard workers will.
Yes, if you’ve got savings invested it’ll touch you, but the actual jobs - you know the ones adding and making real, concrete things, probably won’t notice a big different if the AI stocks tank 30% in a day.
Many electricians, carpenters, and steel plant workers are currently working to build AI data centers. Funding other projects has been postponed or cancelled as the AI data centers are able to pay more
Electricians especially. Trump cancelled many clean energy projects, which created large swaths of electricians without work if it weren’t for AI data centers
Who do you think pays for the bailouts in the end?
That money goes somewhere so some people will be getting out better
It doesn’t work like this though. If your pension fund is heavy into a company that suddenly loses 90% of its value, your pension suddenly becomes worth a lot less…
Some people wouldn’t be those people then would it?
I know what you’re saying, but if a company is valued at 10 billion for instance, then gets revalued down to 100mil, that difference has not gone anywhere, it has simply ceased to exist. And if you had invested 100k to own 0.001% of the 10 billion company, you now only own 0.001% of a 100 million company. Your investment has lost its value, with whatever implications that has for you. The value hasn’t shifted around, it’s ceased to exist!
