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‘Sputnik moment’: $1tn wiped off US stocks after Chinese firm unveils AI chatbot
(www.theguardian.com)
this post was submitted on 27 Jan 2025
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The economy rests on a fucking chatbot. This future sucks.
On the brightside, the clear fragility and lack of direct connection to real productive forces shows the instability of the present system.
And no matter how many protectionist measures that the US implements we're seeing that they're losing the global competition. I guess protectionism and oligarchy aren't the best ways to accomplish the stated goals of a capitalist economy. How soon before China is leading in every industry?
This conclusion was foregone when China began to focus on developing the Productive Forces and the US took that for granted. Without a hard pivot, the US can't even hope to catch up to the productive trajectory of China, and even if they do hard pivot, that doesn't mean they even have a chance to in the first place.
In fact, protectionism has frequently backfired, and had other nations seeking inclusion into BRICS or more favorable relations with BRICS nations.
Economy =/= stock market
That’s the thing: if the cost of AI goes down , and AI is a valuable input to businesses that should be a good thing for the economy. To be sure, not for the tech sector that sells these models, but for all of the companies buying these services it should be great.
Sure workers will reap a big chunk of that value right?
Right?.jpg
Only thanks to the PRC