The death of the stock market. A thought experiment.

[Onda]

Profits concentrating. .

Maybe. Today MAG 7 are about 31% of S&P 500. That is a record concentration of wealth in few companies.

 

[target2019]

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There are two downloadable reports to keep you busy.

 

[skipro33]

The only reason AI is being pursued is for profit. In my opinion AI won't destroy the market, it will bullet proof it from ever failing.

 

[momoney]

Watch some old episodes of Dirty Jobs and think about the difficulty in automating them.

Fully automated trash pickup is still not a thing. I imagine that will replace a lot of driver jobs, but will still require (fewer) people to monitor and maintain the fleet of trucks.

 

[pacergal]

The stock market has fallen significantly in the past, more than once.
And recovered, so there is that.

 

[Major Tom]

I've often thought that new members should be required to just lurk for X days/weeks before being able to post. Might thwart a lot of trollers.

This is actually what I do whenever I join a new group. If it's a subject that I am very interested in, I spend a great deal of time reading as many of the past posts as possible, to add to my knowledge, before ever posting. By the time I've done all the reading I can, I have "read the room" and have a good sense what the specific group is all about, who the key players are, etc.

I waited 7 months after joining this group before making my first post. In my case, I was too busy learning about this rather exciting subject known as early retirement to even bother with talking about something I knew little about. I'm not suggesting everyone should wait as long as I did before posting, but I do agree that an enforced waiting period wouldn't be a bad thing. Some Facebook groups do it. If it's possible to implement in this forum, I think it would be a good idea.

 

[momoney]

The stock market has fallen significantly in the past, more than once.
And recovered, so there is that.

This revolution may happen quicker than previous ones. We still have notice that it's coming and plenty of people are invested in it and making money now. Those AI chip factories aren't building themselves yet.

 

[jazz4cash]

I think there’s a ton of hype in all the AI headlines lately. When mechanical and electrical systems with auto/adjusting feedback loops were designed 50 yrs (or more) ago, is that AI?

 

[landover]

This revolution may happen quicker than previous ones. We still have notice that it's coming and plenty of people are invested in it and making money now. Those AI chip factories aren't building themselves yet.

It will happen sooner or later and there will be uncertainty till new economic order emerges. Hard cash under mattress should do fine as AI will bring deflation, high chance electronic money can disappear due to bankruptcy etc.
Real estate will also not do good unless tied to some touristy attraction, reason people will have free time and they will like to entertain , most skills will be useless, for example in five years AI will better consultant doctors though politics will keep them in loop.

 

[audreyh1]

I find thought experiments to be a waste of time as things almost always work out differently than expected.

In general people, especially the so-called experts, are really really bad at predicting the future.

 

[frayne]

Throughout history, from the Bronze Age to the Industrial Revolution, there have always been groups akin to the Luddites who viewed technological advancements as threats. However, these innovations typically led to increased standards of living. The AI revolution will be no different. Ray Kurzweil's "Singularity is Nearer" is a good read and details a pretty optimistic outlook concerning AI.