#toxicassets — Public Fediverse posts

Digital sovereignty and the AI narrative

Cory Doctorow thinks tech executives' story about AI is not an inevitability

"Bubbles are really evil. They transfer money from everyday savers to insiders who lie about market opportunities. And those everyday savers are just trying to avoid like, being homeless and starving to death in their old age."

"We have to really be focused on that fine distinction because it is in that distinction that the narrative that drives the investment, that drives the bubble, it's in that, that's where it lives."

"We live in an environment that is the end stage of 40 years of lax competition enforcement in which cartels, monopolies, and duopolies dominate most sectors of our economy. And they believe correctly that when there are fewer options to shop for, you can lower quality without losing sales because you're the only game in town. And so, in a world of statistical inference tools and monopolies, firing workers and replacing them with software to produce lower quality outputs, is not an unreasonable bet that you could make it work, but there's nothing inevitable about it."

"If Donald Trump turned off all of our chatbots tomorrow, what would change? Which government ministry would be unable to do his job? Which important firm would go out of business?" >>
https://www.abc.net.au/news/2026-08-08/cory-doctorow-on-the-ai-bubble-and-inevitability/106982988
#technology #AI #DigitalSovereignty #finance #markets #ToxicAssets #bubble #narrative #DeepSeek #Mastodon #Sovereignty #InternetCultures #monopolies #governance