this post was submitted on 26 Nov 2025
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Fuck AI

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"We did it, Patrick! We made a technological breakthrough!"

A place for all those who loathe AI to discuss things, post articles, and ridicule the AI hype. Proud supporter of working people. And proud booer of SXSW 2024.

AI, in this case, refers to LLMs, GPT technology, and anything listed as "AI" meant to increase market valuations.

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[–] qevlarr@lemmy.world 120 points 3 weeks ago (2 children)

No bailout for AI

Let's get ahead of this. Fraudsters should go to prison.

[–] Archangel1313@lemmy.ca 68 points 3 weeks ago (3 children)

If this bubble bursts while Trump is still in office, then they will absolutely bail them out. Fraud is the common denominator for all Trump's actions.

[–] IronBird@lemmy.world 15 points 3 weeks ago (1 children)

dems would bail em out too, money printer Powell was in power under Bush and Obama...that's no accident.

fact is the entire US economy is predicated on the idea our financial markets remain unregulated, so our country can act as easy exit liquidity for the rest of the world. That's been the underpinning of our entire economy since atleast the end of WW2

[–] Raiderkev@lemmy.world 2 points 3 weeks ago (2 children)

Powell was appointed by Trump 1.0

[–] Pogogunner@sopuli.xyz 3 points 3 weeks ago

Powell was appointed as one of the Federal Reserve governors under Obama, I think that's what IronBird is referring to.

https://en.wikipedia.org/wiki/Jerome_Powell

[–] IronBird@lemmy.world 2 points 3 weeks ago (1 children)

Powell was chosen by Obama too, might have misremembered Bush.

[–] Raiderkev@lemmy.world 1 points 2 weeks ago (1 children)

He wasn't chair under Obama. Bernanke was. He was appointed by Bush and he was succeeded by Janet Yellen who Obama actually appointed.

[–] IronBird@lemmy.world 1 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

...and the president doesnt set the chair, the point is republicans or neolibs are the ones who have chosen every person in the fed, they (the fed) have always had one goal and isnt "keeping inflation in-check" or "watching the health of job market", those two things aren't even remotely connected so ask yourself why/when that dual mandate came down and for what purpose it serves.

[–] Raiderkev@lemmy.world 1 points 2 weeks ago (1 children)
[–] IronBird@lemmy.world 1 points 2 weeks ago* (last edited 2 weeks ago)

huh, not sure how i got that one mixed up. wtf was i thinking of...maybe just the rate cut process, they all vote but the chair doesn't have sole power or anything.

point is...their mandate is bullshit, they're not there to serve the american people. they're there to create volatility and keep the money printer going, nothing more or less

[–] zurohki@aussie.zone 13 points 3 weeks ago (1 children)

I'm not sure government can. AI isn't a profitable company with a product that people want which has a short-term cash flow problem, AI is a money pit that will just burn up as much cash as you can pour in.

If they hand AI firms a trillion dollars, they'll be back for another trillion next year.

[–] captainlezbian@lemmy.world 3 points 3 weeks ago

Yeah. Automotive, insurance, and banking were industries when they collapsed in 08. They kept making bad calls (and automotive has continued to do so immediately after the government stopped forcing them not to), but the industries were bailed out because the consequences of not having them would be disastrous to the US economy.

Unfortunately I do think a lot of the government feels not having AI dominance would be disastrous for the US economy so it could easily become a fight.

[–] Valmond@lemmy.world 11 points 3 weeks ago (1 children)

Moreover he can't have a losing economy now can he.

[–] wewbull@feddit.uk 8 points 3 weeks ago

Take away the false number from the bubble and it already is.

[–] neukenindekeuken@sh.itjust.works 11 points 3 weeks ago (1 children)

To be clear, they're not fraudsters, exactly. They're hype men, and that's what stocks have been about for a while now. Who can hype their stock up the most.

And AI has been hyped, globally, more than any other stock in the history of the world so far.

The crash will happen, but it's not fraud. Not yet. They're playing a dangerous game of stock buybacks that led to the 2007-08 recession of the car companies originally.

It will happen here again. Stock buybacks sound great, and they're legal, but using them like the major 5 investors into AI have been, while again isn't illegal, is extremely risky for the company as the majority of their shares are now held by themselves, instead of getting you know, outside investors like the whole of the stock market is supposed to work.

It means there's no leverage and no diversification, so when the bubble pops, these companies that should have more on their balance sheets than just AI (like Microsoft, NVidia, and Oracle), will crater due to one part of their investment portfolio instead of just having a "setback".

This could literally end major tech companies in the US overnight without a Government bailout, or socializing their companies with government takeovers (won't happen in this admin without it going into trump's pockets though).

[–] qevlarr@lemmy.world 8 points 3 weeks ago* (last edited 3 weeks ago) (3 children)

Hype isn't fraud in itself, but I'm convinced there's also massive fraud. I'm not a financial law expert but there must be safeguards against scams like this. It will be apparent once the bubble pops.

Leuke naam trouwens ;)

[–] III@lemmy.world 6 points 3 weeks ago

No doubt there is massive fraud. I just saw the article about the AI note-taking app startup guy who was jumping on calls himself and taking notes manually, providing those as the results of his "app". Somehow, I feel even he will get away with it.

[–] captainlezbian@lemmy.world 4 points 3 weeks ago

The problem is that the safeguards keep getting eroded. Companies really want to be allowed to make the gambles that tank the economy and so they push for them to be removed.

hah, bedankt :)

Yeah, there's probably some fraud going on for sure, just nothing that anyone can prove easily yet. But you're not wrong, it's there, same with the crypto bro stuff.

[–] NateNate60@lemmy.world 46 points 3 weeks ago (1 children)

> invest in company

> someone else says "your investment is worthless"

> angry noises

[–] Meron35@lemmy.world 12 points 3 weeks ago

Tbf seems to be common across all hyped assets, not just hyped AI stocks.

invest in ~~company~~ ~~gold~~ ~~mlm~~ ~~timeshare~~ ~~housing~~ ~~crypto~~ AI

someone says "your investment is worthless"

angry noises

[–] sundray@lemmus.org 40 points 3 weeks ago* (last edited 3 weeks ago)

Word is that the smart money is already on its way out. These guys sound like a bunch of bag-holders to me. (Edit: spelling)

[–] falseWhite@lemmy.world 27 points 3 weeks ago (3 children)

AI isn’t just a new distribution mechanism or a new interface. It is fundamentally a set of capabilities that can upend industries.

Except, that's exactly what it is, just a new interface of interacting with the computer and one that doesn't even always work as expected.

I bet you just need another trillion and one more year to unlock those "new capabilities" that will "upend industries". Fucking jokers. I hope they lose all their money and die poor.

[–] portifornia@lemmy.world 11 points 3 weeks ago

Just one more trillion, bro. That's all we need.

Just another trillion, bro. We swear that's it.

[–] kshade@lemmy.world 9 points 3 weeks ago
  1. Invest all money in "AI"
  2. ???
  3. AGI happens, yielding massive profit!
[–] Steve@startrek.website 7 points 3 weeks ago

Hardly ever works as expected

[–] Treczoks@lemmy.world 26 points 3 weeks ago (1 children)

Of course. Nothing can be more damaging on Wall Street than a rumor in the right places.

[–] J92@lemmy.world 7 points 3 weeks ago (1 children)

The right [word] in the wrong place can make all the difference in the world.

[–] Treczoks@lemmy.world 4 points 3 weeks ago

They know it is a bubble, but they ate afraid other people could notice it.

[–] Diplomjodler3@lemmy.world 13 points 3 weeks ago

Just one more datacenter! This time we'll make it! Trust me, bro!

[–] altphoto@lemmy.today 2 points 3 weeks ago

Whatever hardware made you that fake girlfriend I'll buy it from you on EBay in 10 years for s couple of bucks. It would be kinkier if its your tittie server, dedicated to generating her bouncy jelly titties.

C'mon man! I need an immich server!