To disarm the big tech bomb, including "AI", the public needs to be on high alert — as AI firms start to visibly wobble, we need clear demands and firm commitments from our leaders that if it all comes crashing down, the public won’t be the one left holding the bag.

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[–] 69 points 6 hours ago (13 children)

The AI bailout will happen: the tech bros made sure of it by tying their stock to the working stiffs' 401Ks through S&P500 index funds. It was a brilliant scam and they pulled it off without any trouble in Trump's fasch-land.

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  • [–] 32 points 6 hours ago (8 children)

    Just saying, if everyone were to actually call their retirement fund manager and have them divest your 401k away from these assholes, that can be done. Then they would be left with the bag, not us.

    But getting 100M people to do anything is nearly impossible.

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  • [–] 44 points 6 hours ago (7 children)

    Most folks don't have a "retirement fund manager", they just have a web portal with their company's plan with the same 10 shitty target date funds.

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  • [–] 3 points 3 hours ago

    Most retirement plans actually give you a number of other investment options besides those target date funds. The trouble is that you have to login and change your investments to small/med cap or international funds, and I believe only a minority of people have the wherewithal to do that

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  • [–] 14 points 5 hours ago* (3 children)

    You have a number you can call, and there is an agent you can speak with about what's being done with your investments.

    It is your money and you can put it where you want.

    It is just super inconvenient.

    Go ask your HR person how to contact them. It's all they're good for.

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  • [–] 5 points 5 hours ago (1 child)

    Make an infograph and we share it in a social media campaign.

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  • [–] 6 points 5 hours ago (1 child)

    This is true. There’s also the “company match” that happens with up to 6%. Corporate is handling it, and the “match”, there’s no retirement agent to call.

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  • [–] 5 points 5 hours ago* (last edited 3 hours ago)

    Match means they match your contribution. (Up to x% of your salary, not everyone sees the 6% match you mentioned sometimes is 3%, sometimes it's 10%. Depends on company... It varies a lot.)

    So like if they match 5% and you make 100k, and you elect 5% to your 401k, then the company also contributes 5% of your salary to your 401k. If they match 5% and you contribute 1% of your salary they MATCH 1% of your salary to your 401k. Your 401k is yours. You can tell the managers of it to put it where you want, but it goes somewhere your org wants it to by default.

    That includes where you invest your contribution.

    By default your company invests in a bunch of s&p 500 index funds, probably.

    You could tell them to yolo the whole 6% of your salary they match on Tesla, Gold futures, Pepsi, whatever you want.

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  • [–] 15 points 6 hours ago* (2 children)

    It will happen. I was browsing this while logged out and can't respond to the person I would like to because they're invisible to me. The thing about bailouts is that they will likely go to the big dogs and not the actual AI companies. Microsoft, Meta, Google, NVIDIA, Amazon... They'll get bailed out. OpenAI and Anthropic will get consumed/sold off. We'll likely see a bidding war for their assets because while they are over valued, they are not without value, and since most of us believe all of this is a push is for cloud computing I would bet. The bubble pop will be consolidation and a push for more cloud-based saas infrastructure.

    My opinion has been that all this AI bubble noise has basically just been the R&D phase of a larger rollout. I would be concerned with which company ends up with those assets because that will be a big indicator of future plans in the sector.

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  • This is what see happening too, just like the last time we did a big bailout for the banks. Wells Fargo, B of A, and JP Morgen Chase got to pick off the littler guys like Wachovia and Washington Mutual and they also got to get get tax payer funds to cover their losses.

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