quantum thizzicist

All men must die, but death can vary in its significance.

Per the FT: “An Atlanta Federal Reserve analysis of Bureau of Labor Statistics data shows that, after years of above-trend growth, pay for America’s lowest earners has slowed more sharply than for the highest.”
And this as the US labor market risks weakening further.
#economy #wages #inequality

Hm.

Just How Bad Would an AI Bubble Be? The entire U.S. economy is being propped up by the promise of productivity gains that seem very far from materializing. By Rogé Karma

The capability-reliability gap might explain why generative AI has so far failed to deliver tangible results for businesses that use it. When researchers at MIT recently tracked the results of 300 publicly disclosed AI initiatives, they found that 95 percent of projects failed to deliver any boost to profits. A March report from McKinsey & Company found that 71 percent of companies reported using generative AI, and more than 80 percent of them reported that the technology had no “tangible impact” on earnings. In light of these trends, Gartner, a tech-consulting firm, recently declared that AI has entered the “trough of disillusionment” phase of technological development.

By one estimate, Meta, Amazon, Microsoft, Google, and Tesla will by the end of this year have collectively spent $560 billion on AI-related capital expenditures since the beginning of 2024 and have brought in just $35 billion in AI-related revenue. OpenAI and Anthropic are bringing in lots of revenue and are growing fast, but they are still nowhere near profitable. Their valuations—roughly $300 billion and $183 billion, respectively, and rising—are many multiples higher than their current revenues. (OpenAI projects about $13 billion in revenues this year; Anthropic, $2 billion to $4 billion.) Investors are betting heavily on the prospect that all of this spending will soon generate record-breaking profits. If that belief collapses, however, investors might start to sell en masse, causing the market to experience a large and painful correction.

The dot-com crash was bad, but it did not trigger a crisis. An AI-bubble crash could be different. AI-related investments have already surpassed the level that telecom hit at the peak of the dot-com boom as a share of the economy. In the first half of this year, business spending on AI added more to GDP growth than all consumer spending combined. Many experts believe that a major reason the U.S. economy has been able to weather tariffs and mass deportations without a recession is because all of this AI spending is acting, in the words of one economist, as a “massive private sector stimulus program.” An AI crash could lead broadly to less spending, fewer jobs, and slower growth, potentially dragging the economy into a recession. The economist Noah Smith argues that it could even lead to a financial crisis if the unregulated “private credit” loans funding much of the industry’s expansion all go bust at once.

It's seeming likelier and likelier that AI really could eliminate a lot of jobs very soon. Just not in the way boosters have suggested. www.theatlantic.com/economy/arch...

San Francisco pictured raaaaaaah 💪🌉💪

(1) Attack dispersed isolated enemy forces first; attack concentrated strong enemy forces later.

UMich Respondents Making Unsolicited Negative Comments on Government Economic Policy News

It’s so over

LINKUP JOB OPENINGS (PERCENT CHANGE SINCE BEGINNING OF 2025)

Jobs 📉

I mean this generally true but it’s worth noting hating Mangione is the whitest thing one can do, statistically speaking

i wish i could find the discourse! at least it'd give me a reason to actually use the site other when people post a bsky link elsewhere lmaoo

what's crackalackin

Stumble Upon.... man it's been a while....

that's what stalin said

I made a gingerbread panopticon

third wheeling

#birdbot

It is harder to be a trans woman than to be a cis woman.

It is harder to be a trans woman than to be a trans man.

It is harder to be a trans woman than to be a cis man

Trans women do not just decide to become women, we are born as girls and we are still girls and women before we transition.

people literally care more about hypothetical trans women that may or may not exist in the future than they do about actual trans women who exist right now

I started HRT at 26 (in 1980) and transitioned socially at 29 (while keeping my teaching job with the Baltimore Public Schools). If I could do it in the Reagan Era, and if you are trans, you can transition, too.

15-Nov-24 US Oil & Gas Exploration & Drilling Frac Spread Count 500.0 400.0 300.0 200.0 100.0 The Daily Shot* 2017| 2018| 2019| 2020 | 2021 2022 2023 | 2024 0.0

US fracking activity

12-Nov-24 UK Unemployment Claimant Count ('000) Oct: 1,805.7 The Daily Shot

UK unemployment claims

i know what you are…

my friend cleaned up this classic

yeah same. I guess I can tolerate it but would never seek it out

what’s lackin crackers

I’m on so many types of false internationalism you don’t even know bro

ameriKKKa! ameriKKKa! Goddess shine Her wrath on Thee

oh I see well there’s your problem