cross-posted from: https://lemmy.world/post/44116850
The insane AI push is purely driven by fear of being left behind.
No one is actually stopping to ask whether it is all worth it.
As long as it bursts after the bonus clears
This tells me that each of them believes he alone is the stable genius master of the universe who will get out with exactly the right timing. Which is actually just another way of stating something I already knew: that they are psychopaths.
No one is stopping to ask whether it’s all worth it? … Actually, I think millions of us make comments to that extent every day. We’re kind of upset that these scam artists are dominating the stock market enough to fuck with our retirement plans. If the rich people were gambling with their own money, that would be stellar. But they aren’t. And… I sure wish we could stop them.
And… I sure wish we could stop them.
Most 401k plans have some options that can reduce or eliminate stock owned in the biggest tech companies, at least.
Selling any “Large Cap” or “Full Index” stocks, and buying into a Mid-Cap Index should drastically reduce ones 401k’s risk from and participation in the current tech bubble.
Yeah, the people in charge are gobsmackingly stupid.
You would fire any employee for this level of incompetence. For some strange reason meritocracy doesn’t exist at the leadership level anymore when that is the most important place for it.
Every company still investing in AI knowing their is no return should be broken up and disbanded at this point for gross financial negligence.