Comment by ProllyInfamous | Hacker News Reader

Comment by ProllyInfamous | Hacker News Reader

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Pre ChatGPT:

•largest publicly-traded company in the world was ~$2T (Saudi Aramco, not even top ten anymore).

•nVidea (current largest @ $4.3T) was "only" ~$0.6T [$600,000 x Million]

•Top 7 public techs are where predominant gains have grown / held

•March 16, 2020, all publicly-traded companies worth ~$78T; at present, ~$129T

•Gold has doubled, to present.

>what kind of effects are we going to see

•Starvation and theft like you've probably barely witnessed in your 1st- or 3rd-world lifetime. Not from former stock-holders, but from former underling employees, out of simple desperation. Everywhere, indiscriminantly from the majority.

•UBI & conscription, if only to lessen previous bullet-point.

¢¢, hoping I'm wrong. But if I'm not, maybe we can focus on domestics instead of endless struggles abroad (reimpliment Civilian Conservation Corps?).

I think you are a bit pessimistic on the economics. AI should increase overall output and prosperity and there a bunch of ways for politicians to redistribute things if people vote for it.

There is no scenario where these AI companies collapse and the working class come out better off. We saw it with the 2008 crisis, we saw it with the dotcom bubble, and we’ll see it with this: The people responsible will ride off into the sunset on a golden horse whilst everyone else is left picking up the pieces.

>The people responsible will ride off into the sunset on a golden horse whilst everyone else is left picking up the pieces.

I'm going to quote my favorite client's eighty-eight year old wife, a miserly multi-millionaire:

>"Nobody wants to be the last one at the party, because then you have to help clean up all the mess!"

She is a die-hard Reaganomicist, unable to comprehend why none of her grand-children (and only one of her daughters) is reproducing. My response to her husband, my friend, is not every fish needs to see the shark for them to all respond appropriately.

Only one of my own brothers has a child, only one. These wealthiest brothers (and the above friend) are just now beginning to realize that something is massively wrong with how we're allowing society to continue operating. It's heartbreaking to witness their own awakenings, years behind my own apathetic view(s).

>"It's incredible that I have all this inside of me — and to you it's just words..." —DFWallace (Pale King)

¢¢

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