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Joined 3 years ago
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Cake day: June 17th, 2023

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  • One problem with capitalism is that everything is for sale, including the government. The AI industry is intentionally positioning themselves as “too big to fail” so that they can guarantee a government bailout. As for the dotcom bubble, sure the smaller players were allowed to fail, but that just meant more room for the larger players like google and amazon to take over and now they’re definitely too big to fail. With AI, we already have a small handful of huge players and they’ve convinced the government that this is a matter of national security.

    On top of that, people’s retirements are more tied to the stupid stock market than ever before, so the government will use that as an excuse to bail out these companies, hence the rush to IPO and enter indexes.