The insane level of circular financing sustaining the AI bubble has finally turned even Musk's ex Grimes against AI

[highplainsdem]

Link to tweet

Link to tweet

𝖦𝗋𝗂𝗆𝖾𝗌 ⏳
@Grimezsz
This seems so so so dangerous. This is what has finally broken me and started turning me against AI as it currently stands - it's clear to me ethics don't matter to the big ai companies.

This will fuck the people so hard - this will be an eventual economic bloodbath - am I missing something? How do you justify this

Uncle Milty’s Ghost
@his_eminence_j
Guys, this is so important to understand fully:

The market is being dragged up by only about 10 companies, all AI, all round-tripping revenue, all making outlandish claims of future earnings while producing none of it in real life. They are now actively coordinating public relations messages and cross-sells to each other in order to continue to push the bubble up.

This is extraordinarily dangerous. I’ve not seen this before in my entire career. It’s a bubble that makes the dot-com era look like a pimple in comparison.

Laying the current BS aside, and taking their claims at face value, investors need to realize that we will never get there. Not for a decade or more.

We don’t have the energy infrastructure to provide for the data centers to even get remotely close to the earnings these companies have claimed.

And if they do magically transform our society, somehow, what it will mean to you is far fewer available jobs and much, much higher energy costs.

And yet, they drag the markets up every day. Eight out of 11 sectors, fully 80% of the companies in the index, were DOWN yesterday.

[highplainsdem]

1. kick

[ProfessorGAC]

2. Kicking Again

This is a big deal.
It meets every definition of a market bubble.

[highplainsdem]

3. Thanks!