As the AI Bubble Threatens to Burst, We Must Prepare to Fight a Big Tech Bailout
truthout.org
As firms like CoreWeave and NVIDIA start to wobble, let’s demand that the public won’t be the one left holding the bag.

To disarm the big tech bomb, including “AI”, the public needs to be on high alert — as AI firms start to visibly wobble, we need clear demands and firm commitments from our leaders that if it all comes crashing down, the public won’t be the one left holding the bag.

  • explodicle@sh.itjust.worksEnglish
    6·
    2 days ago

    There’s been significant turmoil in the tech sector over the past month — and at one critical company in particular: CoreWeave.

    CoreWeave used to be a Bitcoin mining firm called Atlantic Crypto, but it started to pivot to AI in 2019.

    The crash is the plan, isn’t it. If they don’t get bailed out, then the dollar economy will crash… They can’t lose.

    • minorkeys@sh.itjust.works
      3·
      2 days ago

      Too big to fail is a business strategy that uses the nations to secure their personal wealth and power. It’s an economic military for the investment class.

      • anewfox@lemmy.zip
        4·
        2 days ago

        they’re implying that the crash is intending to tank fiat currency and somehow make cryptocurrency the defacto standard because crypto weirdos (not the OP commentor, the people they’re talking about) live in a fantasy world where cryptocurrency is usable as a global banking system and isn’t simply a mostly-unregulated security priced in fiat.

        • CharlesDarwin@lemmy.worldEnglish
          1·
          23 hours ago

          I mean, I suppose something happening that is so disruptive that somehow the dollar is no longer considered the default currency could happen, but I doubt that means people would revert to blockchain and revert in such a way that CoreWeave would benefit.

          But I guess I can imagine a lot of galaxy-brained speculators that do think that is a likely outcome…my mistake is applying logic to things and forgetting how vibed-out some people really tend to be.