This is going to be a rant, so apologies. This is a pretty crappy read. Lacks real data and also unwillingness to look outside of the tech bubble, seriously wh

This is going to be a rant, so apologies. This is a pretty crappy read. Lacks real data and also unwillingness to look outside of the tech bubble, seriously what serious AI work is apple or Netflix doing? Its as if the author started with the conclusion and wrote up whole thing to justify it. For large parts most of the tech people at Google/FB are involved in getting more people click and buys ads. And Amazon are involved in getting people to buy more stuff and reduce the costs of handling and shipping them. So, if the logical conclusion that many visionaries in these thread are saying is true that 90% will be useless then these companies will have nobody to serve and will collapse before we reach that point anyways. Secondly, let's believe this is true then if an economic system which does not benefit majority deserves to be overthrown by any means even violent and rise of trump is a step in right direction. Third, if the tech companies are so smart then how were they caught with their pants down when a foreign power used their own infrastructure and technology to help elect a leader that they ostensibly opposed. Finally, the fundamental reason for the current stock boom is simply liquidity and lack of asset classes outside of stocks which give meaningful growth. This is not just limited to fang or usa but seen in many stock markets. I actively invest and trade in India where the markets are hitting new highs and the only reason right now for this is that in most places it is very hard to get a good return plus there is excess institutional & industrial capital since they are not optimistic of the growth and thus not investing in augmenting capacities or production. So investing in stock market seems the only alternative. One of the reasons for this liquidity is central banks around the world have been pumping money. This will end when the excess liquidity is pulled out from the global financial system.