[neffy]

If they optimize though - and this is coming at some point - local AI becomes possible, and their entire business case as a cloud monopoly evaporates. I think they know they're in a race between centralized control, and widespread use and control, and that is what is really driving this.

[danielscrubs]

Yes, if you see the LLM as a compressed dictionary of all available information.

But if they succeed with agentic reasoning models (we are absolutly not there yet) then I think meritocracy will be replaced with assetocracy. The better the model, the more expensive it will be and the better the software will be.

I don’t worry about it myself, but I do worry for my kids. Im not even sure what to teach them anymore to have a shot at early retirement (and they keep raising the retirement age too).

[derf_]

Teach them basic financial literacy. The time value of money, the power of compounding, the relationship between risk and expected returns. Grade school does not cover any of this.

It does not matter what your income is if you cannot budget and save.

[OutOfHere]

Financial literacy is a red herring. If one only stores their savings in gold or an index fund, that gets them practically all the way there. It takes all of two minutes to teach it. It compounds itself.

Risk too is sort of a red herring. Just buy in whenever it dips, and you are set. Diversify just enough to dilute the aggregate risk, and it practically disappears.

Savings are not even possible with low income, only with medium to high income. The lesson to learn is to avoid wasteful excessive spending that benefits oneself only in the moment.

[_wire_]

Yes, keep focused on the future, deny the moment. Avoid testing your own experience about what waste and excess mean. Follow the herd and treat participation algorithmically. Buy in. All key points for a satisfying life well lived.

[bathtub365]

Plenty of people have bought what they thought was the dip, only to watch an instrument go to almost zero and never recover. Look at Bed Bath and Beyond. It’s not quite that simple.

[derwiki]

Time in the market beats timing the market. But we’re also probably talking about broad index funds and not BB&B stock.

[OutOfHere]

If you buy junk with all of your money, that's on you. I mentioned gold and (broad) index funds, although a few select cryptocurrencies also work. Buying junk must be restricted to a very small amounts only, to what one is willing to risk.

[OutOfHere]

The best thing to teach them is how to use AI really well, how to be educated enough to do so, and perhaps how to improve AI.

[greenchair]

Military then a trade then a small business with employees doing the trade then done.

[chrisweekly]

Hard disagree. How is putting guns in your children's hands a wise and loving first step?

[snovv_crash]

This assumes you believe in the scaling hypothesis.

[zyx321]

>assetocracy

That's an interesting neologism, but the existing term for "rule by whoever controls the most expensive assets" is "capitalism"

[JohnBooty]

You can spend $100B on a assets but it doesn't mean you'll turn a profit.

Capitalism certainly favors those with the most... capital, but there are quite a few other factors. Market fit, efficiency, etc. The Dutch East India Company had the most assets, yes, but also the best ships and a killer (literally) business model.

The notion of a sector where success is determined almost entirely by who can stockpile the most assets (GPUs in this case) is a somewhat unique situation and probably merits its own term