AI bubble about to pop or kill us or both?
I’m not sure what could happen first.
Will the AI bubble burst before it kills us or will it burst and still kill us?
AI’s hidden $5t bill could wreck the world economy
In Adam McKay’s 2015 Oscar-winning film The Big Short, Christian Bale portrays Michael Burry, the offbeat hedge fund manager who first spots cracks in the US subprime mortgage bubble.
Burry is a well-known contrarian investor, nicknamed “Cassandra” by Warren Buffett for his oft-ignored warnings about lesser-spotted problems buried in the financial system.
Now Burry has a new target in his sights: a US$3t bill he says is being hidden by AI companies which threatens to wreck the global economy.
In a recent essay, Burry dug deep into the arcane filings made by Big Tech to regulators to uncover a string of data centre debts he said risks popping the AI bubble.
Apple, Google owner Alphabet, Microsoft, Meta and Oracle have ploughed enormous sums into building data centres crucial for the adoption of AI.
Daily Telegraph UK
Special purpose vehicles (SPVs) and off-balance-sheet financing have existed for decades. They were central to the Enron scandal and contributed to financial instability during the 2008 financial crisis. What has changed is their application and scale. Technology companies are increasingly using these structures to finance enormous AI infrastructure projects.
That sounds like a LOT of hidden debt though.
If trillions of dollars in AI infrastructure debt suddenly had to appear on corporate balance sheets, the immediate danger would be a crisis of confidence, followed by a potential credit crunch.
Like this…
…the good news is that AI might become too clever, slip the leash and go on a killing rampage of humanity.
By 2030 Data Centres will take enough water annually for 500million humans.
Those humans may want the water more than the data centres.
Independent Media is more important than ever, especially in the lead up to the Election. TDB is the largest Left Wing Blog in NZ and we have been operating for 13 years. We get zero funding from NZonAir and we don’t have no rich backers. If you can donate please do so here or directly into our account –12-3065-0133561-56
A healthy, functioning democracy where the vote is mandatory didn’t give those psychopathic narcissists above that kind of money. Take note. AO/NZ = 26 multi-billionaires, our vote is casual and the planet is dying under our feet. Like, I mean, clearly we need more rockets and multi-billionaires, right? So. Our planet’s dying and if you do the research you’ll discover that AO/NZ is one of the countries most likely to survive, at least in the short term. Now, what does that suggest of the future of we 5.3 million locals who’s country specializes in food production? If israel can do what they’ve just done to Gaza without reproach then what do you think they’ll do to us? Sit around a camp fire singing Kumbaya with us ? Good and normal people need good and normal political representation and you’re not going to get that with a grimy, slimy, neoliberal gangster clan such as we have and that’s why we have nothing to loose by voting bravely. Vote for Chloe Swarbrick and no one else while resolving to demand that the vote hence forth be mandatory and to Hell with mmp.
Pretty sure if you beat someone around the head with a toaster you can’t then blame the toaster for any consequences, no matter how breathlessly sci-fi you want it to be. Likewise the liability for programming weapons to kill children lies with the coward dorks doing the programming. And Seymour wants to use AI to write legislation? You’d have to be one lazy, inept, talentless fuckwit to hand over parliament to tech bros, in effect committing treason by selling the legislative body to a foreign business. I think what Seymour is actually saying is that the quarter century he’s spent in the beehive has been a complete waste of time and money and a massive burden on the taxpayer
That pic is a hit list of who Artificial Super Intelligence will take out first. Why ?
Because they are its biggest threat!