The economy runs on production and consumption. Debt is a side issue.
This feels a good bit like saying rain runs on ocean and clouds but water is a side issue.
What is enabling the current level of production and consumption to happen?
Ah, here's a comment that says it better than I did: https://slashdot.org/comments....
to notice that the entirety of Alien: Earth is an exact analogue to the race among billionaires for AGI. With all the same egos and all the same downstream consequences for the 99.9999% of the planet.
The economy runs on production and consumption. Debt is a side issue.
This feels a good bit like saying rain runs on ocean and clouds but water is a side issue.
What is enabling the current level of production and consumption to happen?
Don't expect AI to ever use only a small amount of compute.
Personally I think the way to handle it is with a raft of Small Language Models, each one tuned to a specific context, and a higher system that switches context as appropriate.
It will be this, because that's how human intelligence works.
There is no such thing as unitary consciousness.
It's the emergent aggregate internetwork and general-purpose vector sum produced by a set of local electrochemical networks and special-purpose processes all signal-patterning among each other.
Your Self is the result (and feedback loop) of traffic shaping.
This is a very specific form of writing. It is kind of, but not quite journalism, not quite fictionalization, and not just an attempt to influence other market participants.
The author is trying to tell the story within the form - A Titan of Finance is making a Bold Bet with big implications for the little peoples' 401Ks!
Various folks with input to the story all have their own angle and want to steer it to their advantage. Everyone outside the story who is paying attention can see the bubble, but have the same problem Burry has - the old cliche about the market staying irrational longer than you can stay solvent still applies.
So little investors have skin in the game but very little range of motion other than getting out of the market. Big players are betting against bubble blowers, which means they need their story to "win" on a timeline that doesn't lose them a ton of money. Meanwhile OAI, NVidia and similar grifters are sucking Tubby's stump in hopes of a bailout.
It is all high drama, with lots of players trying to influence the story. Think of it as multiparty participatory propaganda trying to steer things, with the eventual outcome determining how many Grandmas have to switch to dog food for dinner.
My favorite aspect of your very-well written summary is how it is indistinguishable from the action at a poker table. Which further highlights what everyone already knows - the choices driving the economy of this global technological civilization are being made in the context of gambling. The cards themselves do have some nonzero tangible value as physical assets, but the hands have no inherent value. The value of your pocket 94 is whatever your chip stack can handle and whatever you can convince (ie can afford to convince) others your potential hand is worth, based on their own chip stack and what they can call or raise (ie can afford to call or raise) you on.
The entire planet is Emperor's New Clothes and Greater Fools all the way down.
One man's "magic" is another man's engineering. "Supernatural" is a null word. -- Robert Heinlein
