gentoobro on Nostr: Sam is a bit of an eccentric idiot. Good with weird math, bad at everything else. ...

Sam is a bit of an eccentric idiot. Good with weird math, bad at everything else. He's not the people driving the stock up though. He's cheerleading it, but the world is full of cheerleaders for every stupid scheme and venture. It's the Wall Street tards that think they can magically replace burger flippers and longshoremen with chatbots and then just pocket the savings like when they outsourced all those jobs to Asia a few decades ago. The problem is that if nobody works then nobody has any money to buy burgers and imported dog toys. They won't go down a UBI road, but if they did it would eat up all the profits and more. It's damned if they do, damned if they don't.

We're probably somewhere between the Sunk Cost Fallacy phase and the Want To Pull Out But Can't Spook The Market phase right now. Look at how fast Nvidia stock dropped because some random Chinese company released a slightly crappier but less inefficient chatbot. The shareholders are jumpy.