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Nvidia is currently "investing" billions in the companies that buy and support it's products up and down the AI stack. And at the same time, Nvidia is "investing" directly in itself with plans to buyback hundreds of billions of it's own stock.
But as you might suspect, this "circular financing" can't continue indefinitely --- just like with any Ponzi scheme
Tech will capture lots of money by putting lots of people out of work.
But people without jobs means fewer "consumers" to buy all the products built with the shiny new AI.
It's capitalism run amuck and it puts the entire economy at risk. Basically, tech is building a rope that will ultimately lead to hanging itself along with the rest of the economy.
Read the full thread on Hacker News →
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