Over the past few weeks alone, several AI leaders, including OpenAI CEO Sam Altman, began hinting that they expect governments to step in and bail out AI companies if and when the bubble bursts. After all, the U.S. government did exactly that in March of 2023 when Thiel’s last big withdrawal of funds (from Silicon Valley Bank) precipitated a series of bank collapses.
With so much pension money and other public funds riding on AI stocks Carney could also decide to bail out AI giants and data centre builders with public funds, rather than take a precautionary tact and pull out investments now from over-bloated AI firms.
How much demand for AI is there? We were forced to pilot it at work and found it was a net detractor in time and quality.
It’s being forced into everything as the ultimate spyware so I guess there is something.
Some folks - myself included - don’t even believe that “AI” as currently described matches even the hype.
Canadians should be ready to go full into cash. We’ll wait for the explosion and buy up the fancy server racks, chips, hard drives, and other hardware at pennies on the dollar to set up our own data centres that will actually do real tasks besides AI slop.