functor
29d ago
We are going to win a trade war with China! We are going to bring the factories home!
A few companies add a few GW of base load demand and people start freaking out. The failure to build electricity has got to be one of the largest self owns ever.
functor
29d ago
Unemployment is low and humans have been replaced by machines for 250 years. If anything we would stagnate if we were unable to boost productivity.
There are other productivity improvements from AI, such customer service outside of office hours speeding up bureaucratic processes, rapid prototyping and making it easier to start companies and more. This should improve the overall economy.
functor
29d ago
People underestimate the size of the labour market. Replacing 1% of global labour is tens of millions of workers. The cost isn't just the salary, employees are expensive. The AI companies set the bar too high by promising AGI and replacing the majority of all coders and other promises that won't materialize. Luckily, they don't even have to come close to those lofty goals for AI to have a massive impact.
Dotcom bubble was a bubble because there were no users. The reasoning was along the lines of 20% of all shoe sales in 2010 will be online. Company x has started to sell shoes online so in 10 years they will make billions. They had no sales and no where close to amazon's supply chain.
Chatgpt has millions of daily users. This is more akin to the boom of companies created when the world got smart phones. Those companies made money.
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