#financialbubble — Public Fediverse posts

@HardBeingGreen @feather1952
I wasn’t taking about AI per se, but about the need for super massive datacentres. Lots of specific purpose so-called AI tools sit quite happily on a server in the back room and provide value to its users. Some may need compute and storage farms (Weather mapping and Met for example) but nothing like what the #TechBros are building and wish to build more of.

I was also referring to the AI #FinancialBubble, not the software, and all of the financial trickery involved in over-valuing assets to shore up share prices without any evidence of promised profits on the horizon.

I am not anti-AI at all, just anti-LLM-GenAISLop peddled by #Crooks and #Profiteers (Snake oil merchants).

I thouroughly agree with what #CoryDoctorow has to say about AI @pluralistic

@alan
But, look, there’s no financial bubble at all…

When it bursts, there are going to be global repercussions, govt bail outs (for those “too big to fail” aka #TheRich and famous) and the #NeoLiberal con of #TrickledownEconomics will finally come home to roost as everyone else (but the perpetrators of this folly) will pay, and pay, and pay some more. That’s if we don’t all boil off by then…

Dear Zeus, these are both depressing and desperate times. Desperate for that bubble to burst sooner rather than later.

#GenAiSlop #FinancialBubble

@worik
Ok, I get it. Use them if you find them useful.

As for me, I would use a lot of discretion if I were to use AI Tools at all. There is nothing that can be coded which will match the human creative act, ever. That’s a given. As for #TechBros, the more you know about them and the crap they put out (And I use the word crap to cover a multitude of their sins) the less likely you’ll be tempted by their marketing hype.

Nothing you’ve tooted has given me reason to change my opinion. But thank you for the conversation.
#GenAISlop #GateKeepingSoftware #antifa #FinancialBubble #EnvironmentalHarm #WaterGuzzlers #EnergyVamps #OutsourcingSkills #SnakeOilMerchants #ChatbotCrap #KoolAidDrunk #ChatbotScourge #CopyrightTheft #TextRegurgitatingMachines

Stay informed and in control but keep an open mind is the best way to handle AI. And when you have time read #CoryDoctorow on #Pluralistic and be enlightened! You might be saved yet.

I am physically revolted by the notion that out political class is swayed by #SnakeOilMerchants and their #GenAISlop propaganda and lobbying. The idea that our politicians could be in cohoots with those #TechBros pushing for massive #Datacentres (to do what? one wonders if anything but hoovering cash) on the pretext that Australia Might Loose Out — in a Race to Financial ruin. #LLM #GenAi ‘s claim to fame is its #FinancialBubble, #CrossInvestments and #EphemeralProfitsInTheNeverNever. The whole GenAI thing and its datacenters is a ponzie scheme that our political #trainedMonkeys are enabling with glee and scant regards for the society they are stewarding (in name only). Gosh this is upsetting.

Worse is the #Secrecy and total lack of #Clarity and #transparency from Govt Ministers down. Hail the brave whistleblowers come out, come out, and sink this stupid circus.

Dear Zeus, a day out of my box and I’m breathing fire from both nostrils in less than 10 minutes over this bit of reporting.

#DavidPockock #IND #Greens

And then there’s the ‘emissions’ profile of those centres should theis UPS (uninterupted power supply) kick in — dozens of 12 cylinder diesel guzzling ICE generators emit particulate matters as well as climate altering noxious gases. Not to mention the amount of diesel fuel stocks required for them stored in close proximity to the data centres and the community hosting them.

All of this squarely falls on the shoulders of those cashing in on the #GenAISlop marketing machine. The #FinancialBubble is getting bigger and the sooner it pops the better afaiac for all of us.
#AusPol

[edited for name typo]
Here is Prof Richard Murphy’s latest post in taxresearch dot org dot UK.
His ‘musings’ are not frivoloius and they are worth taking note of. Here, he agrees with Paul Krugman on the #AIBubble and its #DataCenterBoom with an intertesting note on #Software.

“His [Paul Krugman] concern, and I think it was a reasonable one, was that there is no evidence at all that what is now happening as a result of the current AI boom will create anything of lasting value. We do not know whether the hardware being built in the form of data centres will prove sustainable. Already, 20% of all electricity in Ireland is being used to power data centres. This makes no sense, and replication on this scale appears impossible.

Likewise, when we look at the software and related IT, the potential rate of advance in technology in this sector is so great, if it lives up to its promise, that everything being created now will be of little use in only two or three years' time.”

Read more here
https://www.taxresearch.org.uk/Blog/2026/05/24/should-we-live-in-fear-of-ai/

##GenAI #AISlop #DataCenterEnergyConsumption #DataCenterWaterConsumption #Economics #FinancialBubble

If Trump’s War in Iran Spirals Into a Full-Blown Recession, It Could Crush the AI Industry and Spark a Catastrophic Polycrisis

Far be it from tech writers to chart yield curves or forecast jobs data, but it doesn’t take…
#NewsBeep #News #US #USA #UnitedStates #UnitedStatesOfAmerica #Artificialintelligence #AI #ArtificialIntelligence #financialbubble #financialpain #iran #Technology
https://www.newsbeep.com/us/552125/

People should seriously think about a possible coming marketcrash. The popping of the financial AI bubble will hurt the "normal" economy. Financial markets could take a very big hit. But how do you protect yourself against this coming disaster, as an owner of limited stocks, savings etc.? Going for gold, government bonds, other things? 🤔
#AI #financialbubble #marketcrash #stocks #finance
https://finance.yahoo.com/news/very-troubling-ais-self-investment-spree-sets-off-bubble-alarms-on-wall-street-160524518.html?guccounter=1&guce_referrer=aHR0cHM6Ly9tYXN0b2Rvbi5zb2NpYWwv&guce_referrer_sig=AQAAAAjFEzagEuxeEtpjcymBivanKBOXPUHx1R85YSvSPovFl1aXu-zXilsT-rXgnsGjixwo3qrJaKggG2judxKZdUIVJje95muy1OX7g02-EfAieSMH5Tu-vzMwpIDgQPkLlI9edvuRyg4v7_FQ0AxGOOxFZfApaVGW4oD9w-7CNKEl

Apparently, it wasn't bad enough that we have an AI-driven #FinancialBubble, so we are also digging an #EconomicSinkhole below it.

Who is NOT thinking this is a bubble!?!

"The AI boom's reliance on circular deals is raising fears of a bubble" (NBC)

#ai #llms #AIHype #GenAI #tech #bullshit #hype #techbros #financialbubble #AIBubble

https://www.nbcnews.com/business/economy/openai-nvidia-amd-deals-risks-rcna234806

"Add it all up, and time is not on the data center's side. The finance guru estimates that the "AI datacenters to be built in 2025 will suffer $40 billion of annual depreciation, while generating somewhere between $15 and $20 billion of revenue."

In other words, new data centers have a very tiny runway in which to achieve profits that currently remain way out of reach. By Kupperman's projections, a brand new data center will quickly become a Theseus' ship made up of some of the most expensive technology money can buy. If a new data center doesn't start raking in mountains of cash ASAP, the cost to maintain its aging parts will rapidly overtake the revenue it can bring in.

Given the current rate at which tech companies are spending money without much return — a long-term bet that AI will all but make human labor obsolete — Kupperman estimates that revenue would have to increase ten-fold just to break even. Anything's possible, of course, but it doesn't seem like a hot bet.

"I don’t see how there can ever be any return on investment given the current math," he wrote."

https://futurism.com/data-centers-financial-bubble

#AI #GenerativeAI #DataCenters #BigTech #FinancialBubble

#SwastiCar #musk #tesla #boycotttesla #financialbubble #nazi #trump

@economics

"All the Devils from 2008 Are Back at the Megabanks: Leverage, Off-Balance-Sheet Debt, Over $192 Trillion in Derivatives, Shaky Capital Levels": https://wallstreetonparade.com/2024/08/all-the-devils-from-2008-are-back-at-the-megabanks-leverage-off-balance-sheet-debt-over-192-trillion-in-derivatives-shaky-capital-levels/

#upcoming #bubble #finance #derivatives #financialBubble #financialCrisis #GoldmanSachs #JPMorganChase #CitiBank #JPMorgan #Citigroup #money #liquidity #megaBanks #banks #banking #USPol #Fed #USPolitics

"In aggregate, every share must be held by someone.
[…]
"Last week, our most reliable measure of stock market valuations hit the highest extreme in history. […] It was because people were willing to exchange record numbers of dollars for the privilege, hope, and excitement of getting shares of stock.

[…] It’s just a bubble."

John P. Hussman: https://www.hussmanfunds.com/comment/mc240721/

#investors #shares #stocks #upcoming #bubble #finance #equities #financialBubble #financialCrisis #investment #money #liquidity