Technology

It's legit crazy how financially illiterate top executives can sometimes be.

In a company I worked for, they decided to stop using on-prem systems and move them to cloud servers. I made a rough calculation on a coffee break with colleagues that the move increases costs by roughly 10 times. It was unbelievable and all we could do was laugh.

Some 4 months later it was announced that the cloud systems are to be decommissioned due to costs and employees have to find a way to do the same things on their laptops (which will be upgraded if needed). I still cannot wrap my head around it, there must have been some nasty politics or absolute numeral illiteracy going on in the background.

I would be dramatically less upset if I was surprised. Its painful to of shouted this from the rooftops for what feels like years now, only to be dismissed so easily. What males it even more painful is its the same idiots that where so desperate for nfts to work because their lives are so pathetic the only way they can see it improving is yoloing it on some tiktok fad they just learned about a week ago.

The same people that are desperately defending ai on every turn desperately need it to work because they have taken full bait on the scam. They probably bought some 10k course from the PDB podcast or something like that on "how to get rich quick with ai for dummies" and then wasted 7.5k in tokens to make a web wrapper that sends all user input to Claude and does literally nothing. All their retirements are getting fucked by ai and they probably dumped all their personal savings into ai stocks. Literally the whole american economy is held up by a scam and instead of looking at death in the eye people rather claim ignorance and get mad and upset when you point out the truth.

I rapidly flip between "everyone is just misguided and have been intentionally deprived of good information", and "oh god the stupid people are running the planet, they are lesser beings who only prevent progress." And that usually just depends on my mood.

I just don't understand how practically every business in recent times has operated on this model, and its not just obvious to everyone that this is the new scam to siphon money out of you instead of a real grass roots business that has actual real proven thing.

I think they saw it coming as well.

There is a song playing, fewer chairs than people running and it is about to stop. They want to earn money and hope they are not the last one to sit.

They are playing a game and they know it

They saw it coming. This is a legal bank heist. The ultra rich rob the banks then will cry poverty (to big to fail) and demand to be rescued only rob the banks again another day. This isn't the first time they've pulled this scheme, it won't be the last. As long as it keeps working they'll keep doing it.

Fully agree. At least in the past bubbles, some parts of it trickled to the rest of the economy and we had a societal bonanza.

During the dotcom bubble you could start a company and make millions out of thin air, you'd pay your engineers ridiculous amounts and everyone could get a job.

During the housing bubble everyone could get loans and buy a house, live a decent life for a moment. Real economy, not just Wall Street, was soaring.

AI bubble? Layoffs for everyone. Sense of impending doom all around. Clear signs of financial manipulation directly in front of us. Egomaniac CEOs being obnoxious. Inflation racing. Fucking lame, kill it now, please and let's start over.

All of these of course resulted in misery, and it'll come again. But fuck it, at least the other bubbles were fun.

This one has seemed to be a bubble of stupid by stupid. Like 90% of humanity straight up sat this one out because it sounds like a bad idea, but somehow it'll crash global economies anyway.

Other bubbles were reasonably hidden, or had some surprise elements, but we've all been watching and talking amongst ourselves about this one.

It's like watching a degenerate gambler keep going after everyone at the table and even a couple of people walking by have tried to intervene.

Pathetic indeed.

Us older millennials as well. We just don't have the advantage of working in the booming 80s.

log out before doing anything. chatgpt now serves ads if youre logged in, thus making them money.

The longer the bubble inflates the worse the pop of going to be. Bursting now is going to be bad, but a hell of a lot better than bursting later.

True, but as what happend in the dot com bubble, the middle and lower classes will pay. If you lived in a tech area during the bubble burst then, you'll know how bad this is going to be worldwide.

5090 will be cheap but you will be unemployed

almost accurate. financial regulations put in place after the Great Depression kept relative stability for 50 years. as deregulation accelerted at the end if the 80s, swings resumed and we are niw in the boom/bust cycles that were so painful from 1870 to 1933.

Also not coincidentally the time of the robber barons