alt Hacker NewsI'm sensing sarcasm but is it not true that the scale of obligations is unsustainable?
As for preparation, I'm not sure. I have a 401k that I'm worried about. I'm too young to really remember the dotcom bubble, let alone have any stake in the stock market at the time.
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It's half sarcasm, half my frustration in the way ai crash proponents behave in general
if you proclaim that there's an inevitable doom - propose preparations *people you're talking to* can take
when I hear about nuclear doom, I see preppers discussing bunkers and how rich people buy land in Argentina to evacuate to
when I hear about stock market crash, I see people discussing some famous super-investor moving his money into coca-cola, because food would always have a demand
even bloody "the end is nigh" apocalypse junkies continue with "go to church" (or smth similar) in the very next sentence
what can YOU suggest ME as the next action? not for the government to do something, not for the whole market - how do you suggest ME to prepare? what do you suggest *I* will experience?
at best, our approximation of ai bust is the dotcom - and that happened beyond current generation's memory. At best surviving context is "and the ruin left a lot of cheap fiber laid out all around the world", so... we'll get a lot of cheap ai then? good
Save money now.
When the bubble bursts it will depress valuations across the board, including the valuations of the good companies that will survive to eventually own significant market share. Buy those at those depressed prices and wait a decade.
The trick will be learning to tell the difference between the Google's and the pet.com's of the AI era. The trick during the dotcom situation was to look for companies that had actual gross profit and were reinvesting it, rather than companies that only had theoretical profit based on nonsense like market share and eyeballs.
Take Amazon as an example. They were $107 a share in 1999. By late 2001, it had fallen to under $6. Now they are $250. It still took almost 10 years to recover.