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Cake day: June 19th, 2023

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  • megopie@beehaw.orgtoTechnology@beehaw.orgAI Is A Money Trap
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    16 days ago

    The thing is, companies like Google, Facebook, Amazon and Microsoft are already profitable, so it could lose them huge amounts of money, with no real meaningful benefit to user retention or B2B sales, but the companies as a whole would still be profitable. It could be a huge money black hole, but they continue to chase it out of unjustified FOMO and in an attempt to keep share prices high through misplaced investor confidence.

    Apple’s share price has taken a pretty big hit from the perception that they’re “falling behind” on AI, even if they’ve mostly just backed away from it because users didn’t like it when it was shoved in their face. Other companies are probably looking at that and saying “hey, we’d rather keep the stock market happy and our share prices high rather than stop wasting money on this”.


  • It’s so disingenuous and absurd to claim this is a AI problem. It’s an over saturation of qualified individuals in a field, problem. These companies and executives are just using AI as a cover story to hide the fact that the industry is not growing fast enough to employ the number of skilled professionals in the field. This was the point of the whole “learn to code” talking points. Executives and shareholders wanted an over-saturation in the field so as to push down wages and reduce the bargaining power of employees.

    This situation kind of hammers home the importance of a robust social safety net, strong unions, minimum wages that keep up with inflation, and maintaining an affordable cost of living. There being a saturation in one job market should not doom people to poverty conditions. Even a job at chipotle should pay well enough to live comfortably on, and workers there should have enough bargaining power to ensure decent treatment.

    Like, we need to act collectively to ensure stability and prosperity. There is no path that someone can take individually to ensure these things, no escape hatch to prosperity for “hard workers”. “Learning to code” and “Get a CS degree” seemed like a straight forward answer, but here we are.