I think it's both. They borrowed money on the future of AI.

Kind of an odd phrase, given that money as a concept is fundamentally both of those things at all times.

Don't worry, it will be real money when you have to pay your part.

Or is it money that has now been turned into fictional non-existent money, because it was stolen from our own future, where it was previously being held (we thought) safely in trust for us. They're stealing the money from us. From our taxes, from our government funds and institutions, from our pensions. It's our money. At least it nominally was, before all this happened. We're being looted. The robbers are in our vault, they are packing our money into bags labelled "AI" as we speak.

Both is the same. The only difference might be who is holding the bag in the end.

Which means someone is out there collecting the interest cost of all that magic money...

Guess who it is!

Yeah, that title doesn't make any sense. Do they mean AI companies are moving from equity to debt financing? I can't get to the article (paywalled).

Too big to fail. Privatize the profits, socialize the losses. Unless we can vote in enough representatives that won't put up with that absolute bullshit.

You mean we’ll be in the streets when they try to right? Because just being defeatist about it is an absolute pathetic take.

No worries, it's only American tax payers footing the bill and they voted for this.

We'll be lucky if the index loses only 2/3rds of its current value.

Yeah. In the US, the system works like this. For every dollar minted, it is an IOU to the very big bank as per the contract.

*US-citizens

r/USdefaultism

At a quick search the total debt for all US households is 18.8trillion.

For AI tech companies that is 0.7t, though this probally doesn't include shadow banking credit, which reports say is estimated to be dangerously high.

The that that these numbers are only one decimal order apart is despicable. We're talking a handful of AI megacorps vs literally every single individual.