The AI boom has turned the standard profit margin model on its head, according to Apollo Chief Economist Torsten Slok—and it’s making the industry’s growth unsustainable.
It’s exactly a Ponzi scheme, with the one difference being that there is no product with a true Ponzi scheme, but this one has a product. It’s just a worthless mechanical Turk designed to hornswaggle the rubes.
But, at least for now, ai doesn’t really do anything, either, at least not anything particularly meaningful. It’s a McGuffin for billionaires to slush money around and profit from others investing in bunk stock. They’re making trillions in a gigantic pump and dump scheme, and right before the bubble bursts, they’re gonna cash out and fuck off leaving everyone else to get screwed
It’s exactly a Ponzi scheme, with the one difference being that there is no product with a true Ponzi scheme, but this one has a product. It’s just a worthless mechanical Turk designed to hornswaggle the rubes.
It’s an Altman scheme.
I know. It was a joke.
But, at least for now, ai doesn’t really do anything, either, at least not anything particularly meaningful. It’s a McGuffin for billionaires to slush money around and profit from others investing in bunk stock. They’re making trillions in a gigantic pump and dump scheme, and right before the bubble bursts, they’re gonna cash out and fuck off leaving everyone else to get screwed