posted in Technology
AI Bubble Teetering on the Brink as OpenAI Admits to Massive Financial Failure: A $20 billion setback.
futurism.com/future-society/ai-financial-bubble-openai-billions-failure
Replying to @eicker@lemmy.world
I think they may have located a more extreme, even dumber business category than “too big to fail”: “too big to bail out”.
Unfortunately, nothing is too big to bail for these clowns in power, borrowing money on America’s Credit is like their reason for being, all the lawmakers save few as well as the administration that will of course need to be bribed and paid a percentage of all bail out money.
I bet they can hit 70 trillion in debt by 2029.
Replying to @bedwyr@piefed.ca
As much as this sucks, I’m kind of, quite frankly, okay with it. Because I’ve decided that holding fiat currency isn’t worth doing. I hold my money in real hard money and then only convert what I need back to fiat when I need it.
They can bail out and inflate all they want, but they’re not going to be able to reduce my purchasing power.
I don’t know who will pay the bill for it, but I do know that it won’t be me.
Replying to @shortwavesurfer@lemmy.zip
You pay taxes, right?
Replying to @baggachipz@sh.itjust.works
The smallest amount that I can, since I know that it will be wasted.
But only just enough to keep thugs from showing up at my door with weapons and throwing me in a cage which is something that states seem to enjoy doing.
Give unto Caesar what is Caesar’s. They print fake currency, and therefore, if they want fake currency, I’m willing to give it to them, and keep the rest of my money in actual things that hold value.
Replying to @shortwavesurfer@lemmy.zip
I mean, we all pay the minimum possible. My point is you have no real choice in funding this which should enrage everyone.
Replying to @baggachipz@sh.itjust.works
I mean, I just forget about it, because I know for a fact that when I pay taxes, it’s going to be wasted. So, it’s just a write-off. That does not mean that I’m going to hold the rest of my wealth in their failing fiat currency that they can inflate away at any time for a bailout, which is also another form of tax.
Replying to @shortwavesurfer@lemmy.zip
Everything is “fake currency” because monetary value is an imaginary human concept. So sick of reading people’s dumb arguments against fiat currency.