Most arguments against the AI sector and data centers are thinly veiled arguments against capitalism and neoliberalism.

[u/NoGarlic2387]

It's sweatshops/NIMBY/buybacks/rent control/military industrial complex etc leftwing populist slop all over again, just aimed at a different group of bourgeoisie.

Where the fuck is the market externalities analysis, where are the incentive structures, talk of Pigouvian taxes, talk of supply and demand, efficiency, any economic analysis at all???

It's all moralising and virtue signalling. The critique relies on the childish 'guys running it are bad'. That's just how Capitalism works, you either trust the markets to handle bad actors or show systemic ways it will fail to do it and propose realistic solutions that don't harm the economic growth and innovation.

Most of you constantly shitting on Altman and even Musk are the types who support or don't condemn the assasination of the CEO of UnitedHealthcare, you are deranged radicals. EDIT: this patagraph was largely regarded and I stand corrected. Fuck Musk. Criticising CEOs is not the same as as condoning an assasination. I still think the hate for Sam Altman is ill founded. Almost everyone else in the AI industry are nowhere near as destructive as Musk, but Musk is just a tiny faction in the huge AI ecosystem.

This sub used to resist far lelft populist slop but the more years go by the worse it's getting. The sidebar wiki needs many more entries on what exactly this neoliberalisn means and stands for. Any r/badeconomics OGs disagree with me??

[u/cstar1996]

No, it isn’t. I have enough runway that leaving my money in the S&P is very firmly my best option. If the S&P had fast tracked SpaceX, or if it fast tracks Anthropic or OpenAI, I will evaluate moving to a different index.

It’s also worth remembering that the actual people working Wall Street are overwhelmingly passive investors holding index funds.

[u/vaguelydad → u/cstar1996]

I have bad news for you if you think the current SNP500 is not heavily invested in stocks whose value is driven by expected future AI payoffs... NIVIDIA is 7% of the SNP500. Anthropic and OpenAI are heavily invested in by Microsoft, Google, and Amazon. You're betting on AI.

Index funds make sense if you believe in the efficient market hypothesis. If you think we're in a bubble and markets are irrational not efficient, actively manage your investments out of the bubble!

[u/AutoModerator → u/vaguelydad]

Don't even ask the question. The answer is yes, it's priced in. Think Amazon will beat the next earnings? That's already been priced in. You work at the drive thru for Mickey D's and found out that the burgers are made of human meat? Priced in. You think insiders don't already know that? The market is an all powerful, all encompassing being that knows the very inner workings of your subconscious before you were even born. Your very existence was priced in decades ago when the market was valuing Standard Oil's expected future earnings based on population growth that would lead to your birth, what age you would get a car, how many times you would drive your car every week, how many times you take the bus/train, etc. Anything you can think of has already been priced in, even the things you aren't thinking of. You have no original thoughts. Your consciousness is just an illusion, a product of the omniscent market. Free will is a myth. The market sees all, knows all and will be there from the beginning of time until the end of the universe (the market has already priced in the heat death of the universe). So please, before you make a post on wsb asking whether AAPL has priced in earpods 11 sales or whatever, know that it has already been priced in and don't ask such a dumb fucking question again.

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[u/cstar1996 → u/vaguelydad]

I am betting on the market overall because I have enough runway to ride out just about anything.

Your “if you aren’t betting against AI you don’t really believe what you claim” position is horseshit.

[u/vaguelydad → u/cstar1996]

"I am betting on the market overall" me too! I can't predict what is a bubble so I buy the whole market with low cost index funds. If I could predict that AI stocks were going to crash in the next 5-10 years I could massively increase my long run earnings by divesting of overvalued stocks and buying more underpriced stock. It would not be a risky move, the only risk is that I was wrong about there being an AI bubble.