Maybe I’m over thinking it or have s poor understanding of economics—but I’m curious where companies think money will come from to buy their products when no one has a job because they’ve been replaced by AI?
Companies all think they’ll be the ones to do it first, do it best, so they’ll get all the profits from having no expenditures while all those other dumb companies will be the Rubes paying wages to workers who will buy their profit.
They don’t. Companies think as far as the next quarter, that’s it. Negative externalities do not exist for these people.
It’s an entire system built on perverse incentives, and those perverse incentives are all about keeping the stock price going up. Companies operate for the benefit of shareholders. Not for profit or growth or stability; those are just means to an end. The end is line go up.
The mega wealthy are literally building bunkers to ride out the collapse of civilization. That’s their long term play; emerge as kings of the ashes.
I get the impression that many companies don’t care about the product or consumer anymore. That seems bizarre, but in a world where money is made up, maybe it makes sense.
It’s because companies aren’t run by Joe Business anymore, who founded the company and has been in the Business business for three generations. It’s a hedge fund now and the 40 layers of middle management just need the line to go up. Then they get a bonus and a pat on the back for crushing their KPIs.
I’m not a business guy by any means, but it hit me a while ago that the majority of huge companies aren’t really driven by sales of their core products now, like how you’ll buy an appliance from an electrical store on finance offered by a company they own. They make more money from the banking and investment, to the point that the original point of the firm is a vestigial interest.
They don’t have to give a shit about the customer when the money they make is, to some extent, self-sustaining. As long as someone else is paying people, their income will keep on keeping on.
The trouble is, more and more companies are doing all they can to stop paying people.
that means ai is just there to pump up stocks and valuations while saying they are valuable but really producing nothing of value and just stealing from tax payers as a strategy next admin will need to hammer on ai and just ban it from usa completely for using it for replacing jobs in general instead of making things cost less ai used to make things cost more
Employees are thinking “I like my job/it pays the bills/my coworkers are fun/it’s an interesting problem/the nerd rapture is here”
Bosses are thinking “This gets me fat stacks”
Investors are thinking “This will get me stupidly fat stacks, and if it causes social problems I won’t bear the cost”
Also everyone is thinking “me not doing this just means it happens anyway but I don’t benefit”
Read Marx, like I’m not shitposting. If you want to understand why these traps happen and why capitalism keeps going here read Marx. You don’t need to 100% agree with him but the economic analysis is invaluable.
The middle class isn’t a natural state of things. You have to work at it to maintain a middle class.
Most of these people want to move back to a feudal self set up again. Where ‘the economy’ is just the nobles and rich merchants trading among each other. They don’t actually care if that economy is overall less prosperous, so long as they are one of the big fish in the tinier pond.
So right now we’re seeing rich people eat other rich people, fighting over who gets to control the dwindling remains of civilization that will remain after their decisions wreck the world.
I look at things like the car market, where the top end is basically being floated by oil princes, trustfund kids and early crypto investors. Even have mass production companies like Mercedes starting to focus more on “handcrafted limited release” cars they can make 30 of, and flip at a few million each.
The wealthy seem to seriously believe they’ve amassed enough money at the top that they can sustain the economy without anyone else participating. And unfortunately, it’s looking more and more like the data supports this belief.
yes but the key is to not need the wealthy. issue is they bought most of our politicians like 99% of them. remove their influence and they will need to flee. tax their wealth or they can leave and leave everything they cant move else they will forfeit it. i do not care at this point need a national wealth tax on the 0.01% remove income tax completely
A lot of folks just make their money because the line goes up, then instead of spending that money they borrow more using their old money (stocks) as collateral. So long as the line goes up those people have basically a continuing stream of income and credit.
Whenever it stops going up long enough for them to care they will start to introduce their version of UBI which will probably be something like Mr Lee’s KongBucks because every single one of these fuckers seems to have gotten the exact wrong message out of the novel Snow Crash.
Maybe I’m over thinking it or have s poor understanding of economics—but I’m curious where companies think money will come from to buy their products when no one has a job because they’ve been replaced by AI?
This is like asking ‘how did the slave owners make money if slaves couldn’t buy anything?’
The wealthy already control 50% of the market. They don’t need us. And they don’t want us. They want us to be slaves.
Companies all think they’ll be the ones to do it first, do it best, so they’ll get all the profits from having no expenditures while all those other dumb companies will be the Rubes paying wages to workers who will buy their profit.
They don’t. Companies think as far as the next quarter, that’s it. Negative externalities do not exist for these people.
It’s an entire system built on perverse incentives, and those perverse incentives are all about keeping the stock price going up. Companies operate for the benefit of shareholders. Not for profit or growth or stability; those are just means to an end. The end is line go up.
The mega wealthy are literally building bunkers to ride out the collapse of civilization. That’s their long term play; emerge as kings of the ashes.
I get the impression that many companies don’t care about the product or consumer anymore. That seems bizarre, but in a world where money is made up, maybe it makes sense.
It’s because companies aren’t run by Joe Business anymore, who founded the company and has been in the Business business for three generations. It’s a hedge fund now and the 40 layers of middle management just need the line to go up. Then they get a bonus and a pat on the back for crushing their KPIs.
I’m not a business guy by any means, but it hit me a while ago that the majority of huge companies aren’t really driven by sales of their core products now, like how you’ll buy an appliance from an electrical store on finance offered by a company they own. They make more money from the banking and investment, to the point that the original point of the firm is a vestigial interest.
They don’t have to give a shit about the customer when the money they make is, to some extent, self-sustaining. As long as someone else is paying people, their income will keep on keeping on.
The trouble is, more and more companies are doing all they can to stop paying people.
And here we are.
They need number to go up 30x from when they bought it so they can sell and do it again or just coast forever
that means ai is just there to pump up stocks and valuations while saying they are valuable but really producing nothing of value and just stealing from tax payers as a strategy next admin will need to hammer on ai and just ban it from usa completely for using it for replacing jobs in general instead of making things cost less ai used to make things cost more
Companies don’t think.
Employees are thinking “I like my job/it pays the bills/my coworkers are fun/it’s an interesting problem/the nerd rapture is here”
Bosses are thinking “This gets me fat stacks”
Investors are thinking “This will get me stupidly fat stacks, and if it causes social problems I won’t bear the cost”
Also everyone is thinking “me not doing this just means it happens anyway but I don’t benefit”
Read Marx, like I’m not shitposting. If you want to understand why these traps happen and why capitalism keeps going here read Marx. You don’t need to 100% agree with him but the economic analysis is invaluable.
The middle class isn’t a natural state of things. You have to work at it to maintain a middle class.
Most of these people want to move back to a feudal self set up again. Where ‘the economy’ is just the nobles and rich merchants trading among each other. They don’t actually care if that economy is overall less prosperous, so long as they are one of the big fish in the tinier pond.
So right now we’re seeing rich people eat other rich people, fighting over who gets to control the dwindling remains of civilization that will remain after their decisions wreck the world.
Other companies.
Once you and competition have been optimized out of the economy it’ll all be b2b.
Top 10% ofc. Poor people don’t spend a lot anyways.
I look at things like the car market, where the top end is basically being floated by oil princes, trustfund kids and early crypto investors. Even have mass production companies like Mercedes starting to focus more on “handcrafted limited release” cars they can make 30 of, and flip at a few million each.
The wealthy seem to seriously believe they’ve amassed enough money at the top that they can sustain the economy without anyone else participating. And unfortunately, it’s looking more and more like the data supports this belief.
yes but the key is to not need the wealthy. issue is they bought most of our politicians like 99% of them. remove their influence and they will need to flee. tax their wealth or they can leave and leave everything they cant move else they will forfeit it. i do not care at this point need a national wealth tax on the 0.01% remove income tax completely
A lot of folks just make their money because the line goes up, then instead of spending that money they borrow more using their old money (stocks) as collateral. So long as the line goes up those people have basically a continuing stream of income and credit.
Whenever it stops going up long enough for them to care they will start to introduce their version of UBI which will probably be something like Mr Lee’s KongBucks because every single one of these fuckers seems to have gotten the exact wrong message out of the novel Snow Crash.
Think? (chuckles) No, no, we don’t do that here.
You’re thinking past the quarterly earnings report, that’s what cucks do. Line go up, mother fucker. Infinite growth, FTW, bitch!
/s