> Sad for folks inside tech not interested in/working on AI either
Not true. With this much money and more coming it means other roles will benefit too. The whole tech sector will grow - maybe less than AI specific, but still.
It's better than the alternative of no or negative growth.
Some comments assume the funds exist and will be spent elsewhere in the US or the markets they refer to but maybe not. If no AI, US funds could invest in Vietnam (that is receiving a FTSE market upgrade), China, EU or just about anywhere else.
Don't assume you'd benefit by wishing AI to begone. When you wanted crypto to go away you got AI.
They say the AI bubble is 17x larger than the dot com boom. I was in the bay area for that. It was pretty amazing. Every party someone announced they were pregnant (people were so optimistic they were all starting families). There were new restaurants popping up everywhere. Run down areas being revitalized. Suddenly expensive clothing brands that were just for die hard outdoors situations became streetwear.
I can't imagine how great/amazing it must be there now with AI being 17x that. Everyone where I live is financially stressed. Living in a community that isn't would be so nice. I am sure people in the bay area would miss this current feeling of prosperity/success/optimism to start a family if the bubble burst.
> I can't imagine how great/amazing it must be there now with AI being 17x that. Everyone where I live is financially stressed.
Maybe without the AI it'd be worse? COVID over-hiring lingered for a long time. A lot of the layoffs were due to that. Perhaps without AI and the over-supply for workers things could have crashed.
The flip side is that anyone not riding the AI wave gets swept away. Schoolteachers and bartenders, bus drivers and librarians. It becomes impossible for normal people to live in San Francisco. Shouldn’t we all be wishing for a normal stable diversified economy with modest growth, opportunity for young people and reasonable cost of living?
I don’t think hyper growth bubble vs economic depression are the only two options.