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AI Layoff Trap - a game theory paper from UPenn + Boston University, indicating that AI layoffs can collapse the economy
(media.piefed.zip)
paper link: [2603.20617] The AI Layoff Trap
"That might happen to all those other companies, but it won't happen to us. We're better."
Valid. I keep telling people that about Trump's casino bankruptcies. It wasn't bad business, it was deliberate. Loot the casino of every bit of profit, launder as much illegal cash as possible, stiff your creditors, file for bankruptcy, discharge all the debts, and rinse and repeat.
It wasn't bad business, it was a successful business model.
For the only people that really matter in the World. Behind every great fortune is a great crime.
Good ol' leveraged buyouts. Favored by corps with "equity" or "capital" in their names.
That might happen to all those other economies, but it won't happen to ours. We're better
They don't actually believe a single word they say. They're just too scared to stand up to their shareholders.
Well, actually, they do believe it. They're just delusional. Because they're too scared to stand up to their shareholders.