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My question was always: suppose they reach their goal and half of the jobs gets replaced by AI in the coming years, who do they expect will buy all the shit they sell if half the planet is out of work? Cause that’s all they do, sell shitty products and services.
The richest 10% represent the absolute majority of consumer spending in this country. That share will simply increase. Ask the guys living in tents in the park if the market always finds uses for surplus labor.
You’re almost there, but you are getting hung up on everything staying the same except for elimination of half the workforce. The end goal has nothing to do with money.
They don’t care. They’ll sell surveillance of the poors, and weapons that use it, to governments and corporations. They’ll have everything already, and the goal then will just be to keep it that way by force.
Which still means it’s currently valued at 1.25 trillion dollars, which is absurd.
Money has always been fake; but it’s never been as fake as it was today; and will be even more fake tomorrow.
It’s a bigger issue in the US than other countries though. Not all countries value companies based on ridiculous amounts of speculation.
It’s estimated that Anthropic’s IPO will value them around $1.5 to 2 trillion even though their S-1 has 93 pages of risk factors, including that 20% of their revenue comes from their top 2 customers (and I guarantee that both would be looking into moving AI inference in-house), and they literally say that they may never be profitable:
We have a history of net losses and may not generate sufficient revenue to achieve or sustain profitability in the future
They also don’t own any infrastructure like servers or racks - it’s all rented.
Yet they’re still going to have a large amount of people purchasing stock, based purely on vibes rather than actual data.
At least the S&P 500 still has some sense. Companies can only be added to the index if they’ve been trading for at least a year, and if they’re profitable. They refused to change the rules for SpaceX, unlike Nasdaq-100 and Russell 1000.
Don’t even get me started on Nvidia. There’s no reason that a company that makes GPUs should be the most valuable company in the whole world. Actually they don’t even make the GPUs - TSMC does.
Apparently Blackstone is expecting Anthropic to receive a high junk rating, i.e. not investment-grade, after the IPO. Maybe all those risk factors actually matter.
It’s just insanity that Anthropic can openly say “we won’t ever make money and our product will destroy humanity” and they can still raise a trillion dollars in an IPO.
That what I was waiting for. If their money finally dries up the will just have to shut down operations. Then everything will collapse.
I wonder which suckers fell for this. Someone still spent billions on that shit.
When the sucker of last resort, the government, has their hands in this, all the taxpayers are in line to make enterprise socialism great, again.
The avalanche has already started. It is too late for the pebbles to vote.
You do not understand, but you will.
