Even a broken clock ticks right, twice per day.
⚡️🇺🇸 NEW - AOC: Trump has been saying the economy is booming, but it’s really only seven tech companies.
They’re driving this growth in just one sector: AI.
So the entire economic growth can be tracked down to seven companies and their AI expansion. Forty percent of economic growth is attributed to these companies alone, and 80% of stock gains this year came from AI companies.
People are justifying these levels of investment because of the promises CEOs make — that there will be a return on that investment. For a company like OpenAI, their valuation is based on the expectation that they’re going to figure out how to make a profit off this, and they haven’t.
Generating this increased human dependency that can be mined — people’s deepest fears, emotional content — can all be mined for this empty promise that we’re getting from these companies in the pursuit of profit.
The reason I bring all of this up is that the exposure to this industry and this investment, I fear, has reached broad levels of the American economy. We’re talking about 40% of growth being attributed to that sector alone, and it has not turned a profit. We’re talking about a massive economic bubble. Depending on the exposure of that bubble, we could be facing 2008-style threats to economic stability.
https://blossom.primal.net/3babd9678537e8ba9e15a75fa8830b1380ad4a9234f0e820e327a7132f31d01a.mp4