4 ms·
A "surplus of money"? So people saving for retirement have a "surplus of money"? Basically if any money is standing still, it's a legitimate tactic to just...ta
by ambicapter 6mo ago
A "surplus of money"? So people saving for retirement have a "surplus of money"? Basically if any money is standing still, it's a legitimate tactic to just...take it, in your mind.
Other people just call it "theft".
- HWR_14 6mo agoNo one with a small 401k is able to invest in OpenAI/Anthropic/etc. The people investing in those companies can afford to lose their investments.
- sumeno 6mo agoWhich is why they are desperate to IPO
- bigfishrunning 6mo ago"small" 401ks are usually made up of mutual funds. Those funds are run by investment banks (think Fidelity or JP Morgan) and they *absolutely* invest in companies like OpenAI and Anthropic. Your average middle class worker has investment money tied up in these crooks, but probably indirectly. When they piss away that money, it's not just rich jerks that are holding the bag.
- deleted 6mo ago[deleted]
- HWR_14 6mo ago401ks are run by investment banks and investment banks invest in OpenAI/Anthropic, but those aren't the same parts of the company in any meaningful way. The 401ks are in public companies or bonds.
- fragmede 6mo agoYeah, but those public companies are going to include the so called magnificent seven, so unless they're really really careful, there's still a ton of exposure in their 401k to AI if you think it's a bubble that's going to pop.