S&P Breaks 4,500

[Axtremus]

@Jolly said in S&P Breaks 4,500:

Don't look now, but look what companies are posting most of the gains.

Why?

[Jolly]

Concentration of wealth.

[Doctor Phibes]

@Jolly said in S&P Breaks 4,500:

Concentration of wealth.

Tech owners are essentially modern-day oil barons.

[Mik]

Oil, steel, railroad, automobile, tech.. it will be ever thus as new growth industries arise.

[Doctor Phibes]

I imagine that some folk are going to get really, really rich on the back of AI, until of course they're eventually replaced by AI.

[Horace]

It's almost like mainstream big tech has been the obvious stock market bet since the dot com bubble crash.

[Aqua Letifer]

@Doctor-Phibes said in S&P Breaks 4,500:

I imagine that some folk are going to get really, really rich on the back of AI, until of course they're eventually replaced by AI.

I'll be amazed as fuck if AI doesn't have a catastrophic effect on the job market. Which in turn will fuck up the economy. Hard to buy tech shit when your entire career no longer exists.

[Copper]

The IT industry in the US employs about 12 million people.

I can remember when this number was roughly zero.

Things change.

[Mik]

There have always been layoffs when old technologies give way to new.

[Aqua Letifer]

@Mik said in S&P Breaks 4,500:

There have always been layoffs when old technologies give way to new.

This is very different. This technology is not used to replace one set of skills with another. It's used to give the skills of other industries to others who don't have those skills, and the interface is kept as user-friendly as possible.

There's no such thing as a "prompt engineer" any more than there is a profession of "iPhone operators." This won't create nearly as many jobs as it will destroy.

[Rainman]

We are already using it for content generation. Well, not me specifically, but in use for promotion. But, everything is reviewed by a reasonably smart person, for accuracy and style.
It helps a lot. Writer's block? Don't know how to offer anything different or unique in terms of content? ChatGPT works great as a helping (virtual) hand. But, I don't like it at all.

[Aqua Letifer]

@Rainman said in S&P Breaks 4,500:

It helps a lot. Writer's block? Don't know how to offer anything different or unique in terms of content? ChatGPT works great as a helping (virtual) hand. But, I don't like it at all.

Just FYI: For content, there's what the information is, and there's how you present it. It's very important to find some useful novelty for that second part, and if you rely on that tool for that part, all you'll ever get is an average of what it's pulling from. It'll be better than nothing I guess, but don't delude yourself into thinking it's nearly as effective as a good idea. Still need a person for that.