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Commercialization is not enough. The US is built on financialization. Cultivating an ecosysyem of strong capital protections, wealth creation through extractio
by kelseyfrog 6mo ago
Commercialization is not enough. The US is built on financialization.
Cultivating an ecosysyem of strong capital protections, wealth creation through extraction, and tax advantages for AI finance is what we should be looking for. Commercialzation may be a step towards that, but isn't the destination. We have to create a system where those with money can multiply it, not simple add to it.
- sailfast 6mo agoJust spitballing here but I think the financial system’s already set up for this. Whatever derivative structures and equity and options need to exist will be easily created. I don’t think we need any additional motivation or incentives to cultivate this for AI. We need to keep some in the tank to handle the fallout. As a more personal aside: the US would do well to put up some sensible barriers to outrageous financialization and reduce moral contagion risk. Otherwise all these folks trying to multiply their money end up leaving the bag with the folks that don’t have it in the first place - and then the folks with money end up, uh… well, it won’t end well.
- topheroo 6mo ago“A system where those with money can multiply is” sure sounds dystopian to me.
- RobotToaster 6mo agoBetting your entire country's future on usury seems like a terrible idea to me, but what do I know.
- bigyabai 6mo agoDon't look now, but if you've got a 401k then your pension is already dependent on perverse financialization.
- kelseyfrog 6mo agoYou're really not going to like what happened in 1971.
- greenavocado 6mo agohttps://wtfhappenedin1971.com/ https://wtfhappenedin1971.com/