Technology

This race to displace human labor with AI is a typical late-stage capitalism race to the bottom because it ignores something fundamental: workers are also consumers. No job, no money, no purchases.

In other words, all companies embracing AI are collectively working their ass off to destroy their own and everybody else's markets. It's global economic suicide.

But... capitalism being what it is and doing what it does, it only looks at what the competition does, expenses and no further than the next quarter. So individual corporations see AI as a way to reduce expenses and get ahead of the competition that does the same thing.

They all know AI will destroy everything eventually, including themselves, if they all do the same thing. But they can't help it: corporations look no further than their own selfish interests with the narrowest possible set of criteria, and the bigger picture be damned. Always.

Reminder that the Luddites were not against mechanization, and not just made at the loom and nothing else.

They were a pro-worker movement who want to see the increase in efficiency translate to less hours for more overall pay, instead of just a drastic reduction in the amount of jobs with weekly earnings remaining unchanged.

They got made a joke, because they did gain some ground.

The looks were expensive and located in a central location, so that's where Luddite activity was focused. A modern equivalent would be something like all the AI data centers being built nationwide against locals wishes.

Especially before construction is finished. Delays in construction are very expensive and not exactly covered by insurance to my knowledge.

Then you don't profit, fucker. 🤷‍♂️

Figure something else out, asshole.

But, like, who's gonna give them money for a product?

The remarks echo what he said in September, when he told the Financial Times that AI will “create massive unemployment and a huge rise in profits,” attributing it to the capitalist system.

So if the middle and lower classes don't have jobs, the Wealthy are going to circulate money back and forth? So trickle-down becomes trickle-around? Trickle down doesn't work as intended. So trickle around is likely to fail, too.

pop goes the bubble

AI is a massive bubble, and it will be popping in the next year or so. It will still be the case that no companies are making money from it. Why? Because it makes the technology more accessible, and allows individuals to do things that otherwise would have taken a team without AI. The level of competition is extremely high, and no one will be willing to pay for AI services. Profitable companies with multiple revenue sources like Google and Meta will continue to offer AI services for free, while companies like Anthropic and OpenAI will run out of money.

Lol. If humans can't make money then they can't spend money on using your AI.

AI as it currently is an excuse to lay people, off without saying they are laid off or fired.