Comment So the problem with the bubble (Score 1) 21
The problem is that the nature of llms means that when things shake out we're going to be left with just a couple of big players. That's because the only people who are going to be able to stay in the game are the ones who have access to training data from real human beings and that's basically going to be people that own a platform. Basically Microsoft Google Apple and Facebook.
The real problem though is banks are loaning out money to anyone who so much as sneezes making a noise that sounds vaguely like AI.
A lot of those loans are going to be bad, they're going to collapse and the banks are going to go with them.
When that happens we have basically two options.
First we can nationalize the banks to prevent a global economic collapse. Let's not get ourselves we're not going to do that. We have been programmed that is socialism and socialism bad, m'kay.
The other option is a massive 2008 style bailout followed by mass layoffs as companies boost their stock.
There isn't a single economist who doesn't know this is coming and I'm guessing most of the people here even know it's coming but we can't do anything to stop it because our thinking is too constrained to come up with any other solutions besides letting the corporations fire 25% of us, praying that we're not in that 25%, coping with the very real possibility we will be in that 25% by convincing ourselves we are the ultimate badasses that the company couldn't possibly live without...
I'm open to other solutions but I literally do not know of any. Voters around the globe simply will not accept the correct and well understood solutions of regulation and short-term government control. And if there's a third solution nobody has come up with it