I was but too young to suffer. I was still in university when it happened. Also I'm in Sweden so it was much less of an effect here compared to America. I believe you, must have been horrible.
How? I don't get it...
I guess I am a bit nonchalant yeah. Maybe I dont fully understand the impact for the world if these companies would lose 50% of their value in the stock market. It seems to me that it would affect people's savings, sure. But unless you went all-in on those companies, it shouldn't wipe anyone out completely. Index funds takes a hit, maybe 20% drop? And in a year it's back where it was?
Perhaps I do actually not understand the consequences. What would happen? How would it cause something major like a depression?
It's true that Google (just took some example to check) is spending more money on investments than they are earning back right now. But they have an enormous pile of money still.
Google spent 45 billion on infrastructure investments in Q2 and they made 41 billion in profits. So they made a loss of 4 billion that quarter.
But since they have 242 billion in available money, it really isnt a big deal. It's pretty much the same as you or me spending more money that we earn in our monthly salary, and take it from our savings.
But sure, I can see how it makes people nervous.
That's cool. Link to it please. Some prediction market?
I understood that actually :)
Exactly :)
These companies are so rich and already have existing revenue in billions, so even if the Ai bet doesn't work out, they can simply pay off their debt using their ordinary revenue.
It would disappoint the stock market, sure, but I doubt that it would create anything more problematic than maybe a 20% drop in the stock, temporarily. And that would be because investors would know that the future will not contain the promised profits. But the companies would still be fine, still be able to pay their debts, and still be able to run their business as usual.
Its not like in dot com where companies without revenue got to borrow tons of money they could never pay back.
Unfortunately we can't go there and back. :)
Yeah I did that when the game was almost new. And I dont mind some grinding for better stuff, it's just that I felt that grinding was the entire game. I was hoping to be able to buy and sell resources and transport them across star systems for a profit, under the danger of pirates attacking me. Stuff like that. But its not that kind of game.
I guess more like the original elite game worked, but with modern graphics. That would be so cool.
Ah yeah. I can read that without problems actually as a swede. So yeah, its just when they talk it becomes a mess to listen to. :)
Maybe, but im convinced it will work just like any other technology that has arrived before it.
Currently we are in the hype stage where so called experts are warning the technology can kill humanity and other silly things.
But this will pass. The technology will continue to be very useful to both companies and individuals and because of this, pricing will adapt. This means less price for the consumers as number of users and competition goes up.
We will have a society where Ai is used to take our orders, find our information, do a lot of office job tasks. It will become just as common everywhere as screens and phones.
And people say it's not going to be profitable? That's extreamly improbable. Every technology that is used by everyone is highly profitable, it's just a matter of which companies will win the market and which won't.
There won't be any bubble popping because it's not a bubble. It's a new technology, like phones and laptops once were too. I had one of the first smart phones actually and I watched that market explode over the coming decade, with every human buying a smart phone. That market is now stagnated, more of less. But Ai has only just begun.
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