[jqpabc123]

I'm delighted to be wrong about this

Sorry, he's lying --- again.

Forget what he says and look at what he and others are doing --- the amount of money being spent on AI is truly epic.

Just 4 companies (Alpabet, Meta, Microsoft and Amazon) say they plan to spend $725 billion on AI this year.

If Sam is right now; if AI will not transform the job market, then this level of spending is an absolute waste and the "AI bubble" is actually way bigger than has been feared.

https://www.statista.com/chart/35046/capital-expenditure-of-...

[heisgone]

This is the danger of a winner-take-all economy. They have no other but spend insane amount just to remains on top, even if it doesn't make economic sense short and medium term. There is no evidence AI will impact the GDP positively. To make things worse, so far, the use of ressources (electricity, chips) make it inflationary.

[burnt-resistor]

It all started with political corruption, regulatory and policy capture of government by ever-increasing wealth, and deregulation and tax cuts that shifted incentives away from creating a middle class to creating a tiny cadre of billionaires. Taxing the rich heavily is vital to sustaining civilization, because without it, people are going to be much poorer relatively than they otherwise could've been and so they'll leave or not have kids.