- cross-posted to:
- fuck_ai@lemmy.world
- cross-posted to:
- fuck_ai@lemmy.world
Big tech boss tells delegates at Davos that broader global use is essential if technology is to deliver lasting growth
Big tech boss tells delegates at Davos that broader global use is essential if technology is to deliver lasting growth
So you’re saying they’re too big to fail?
Oh, we’ll see about that.
The key difference between tech giants and the banks, is the tech giants aren’t holding everyone’s money hostage.
Sure, those gen Z kids will lose all their photos of grandma because they couldn’t fathom a world without Instagram, but we’ll cope.
No, but when the AI bubble bursts it will wipe out between roughly 40% and 60% of the value of the US’s stock market, depending on which estimate you go by. For comparison, the initial crash of 1929 saw the stock market losing around a third of its value.
So either the government does bail them out, or it’ll be worse than that crash was.
Neither option is good for the little people