alt Hacker NewsI really wish more people were aware of this. It's a major scandal and definitely not being talked enough about.
Nevermind SpaceX, which at least have some importance for US defense industry, but xAI ? We will be investing in Elon's private venture, at the price that he himself set and which is at least 2 orders of magnitude too high...
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Well, we elected a bunch of criminals, and Elon fired everyone who regulates this. The SEC was gutted like a fish, and contract terminations resulted in a large percentage of FINRA staff being laid off.
> It's a major scandal and definitely not being talked enough about.
You mean pension savings accounts? You're right these are major scandals not being talked enough about.
And it's only just a tiny less bad than how the system works in socialist europe: in socialist europe the various states' public debt is the pension "savings". Those mandatory contribution have been long spent already by the states with the IOU promise that, once you'll retire, the state shall keep paying you a monthly pension. It's totally unsustainable.
It's nearly as if thieves voted, worldwide, a system allowing them to part their taxpayers from their hard-earned money.
Pension funds, private or public, are the scandal.
In order to be incredulous at xAI, you'd have to be incredulous of the AI business in general, which is fair.
But then you'd also be basically betting against the entire tech sector, and really the entire US economy and against the value add of AI. That kind of bet is much more difficult to swallow.
> It's a major scandal and definitely not being talked enough about
It’s being extensively talked about and debated. It hasn’t entered the mainstream discourse because it’s too technical.