You are right no one would invest in that. To be a real start-up plan, you need future projections built in. No one is going to invest in a static gold-pooping rate. If you can scale that production year over year, now you have an investable project.
I don’t know the source, so it’s hard for me to comment but logically the problem as stated is plausible. i.e. legacy debt preventing the move to more efficient methods.
However, the conclusion i.e. therefore replace humans with humanoid robots does not. And then tacking on unionization is just a different subject altogether. You can staff some aspects of a factory with robots and the human’s work shifts from production to maintenance. I’ve talked to automation people and robots can be very problematic and something “advanced” I would imagine much more so.
Although not recent, some referred to the robots as “Bob” blind one-arm builders. If very well calibrated and designed for a specific task, they can be ok, except when they go wrong. To think some “AI” driven general purpose robot is going to substantially replace human labor any time soon… I very seriously doubt that. Especially with that kook as leadership.
In my understanding, derivatives amplify the problems and risks. Underlying that are the money people who push on these systems as hard as they can and exploit every angle. Along the lines of pushing the boundaries, the practice of brokers “loaning” shares seems like another place that’s bound to cause issues at its limits. I really wish the govt would step in and impose much stricter regulation. I’d like to trust that buying stock is investing in a company rather than feeling like the stock market is a school of small fish swimming with sharks who cheat as much as they believe they can get away with. If the focus was on dividends vs growth, I think we’d be better off. Maybe I am wrong but that’s how I see it.
I think of it like network security. Anything you do not explicitly disallow will be used, tried, and used in ways you probably didn’t think of. It isn’t a matter of expecting people to do the right (or legal) thing, most will but it’s a surety that some will not. That’s normal and why security is a process and systems have to adapt over time in response.
It may do the job of a simple conveyor belt but actually, it’s a multimillion-dollar AI-powered, um, robot,
The great thing about the stock market compared to other investments like crypto is that stocks are based on the inherent value of the business they represent. Stocks are based on financial fundamentals. You can believe in those investments because they are based on something real and not simply rampant speculation. For example.
Tesla. Worth more than most of the rest of the car market combined because… reasons?
Paypal. Lost 80% of its value starting in July 2021 over a year and never recovered because of terrible problems? Huge losses? Nope, because it “only” grew at 8-9%.
2008 US housing rated as “AAA” investment i.e. “good as cash” based on actual trash.
Calling LLMs, “AI” is one of the most genius marketing moves I have ever seen. It’s also the reason for the problems you mention.
I am guessing that a lot of people are just thinking, “Well AI is just not that smart… yet! It will learn more and get smarter and then, ah ha! Skynet!” It is a fundamental misunderstanding of what LLMs are doing. It may be a partial emulation of intelligence. Like humans, it uses its prior memory and experiences (data) to guess what an answer to a new question would look like. But unlike human intelligence, it doesn’t have any idea what it is saying, actually means.
The word gimp in disability circles once upon a time meant “generally impaired.”
Firefox or Vivaldi. I prefer Vivaldi with its built-in blocking. I also use NextDNS for DNS level blocking. Free plan is good enough for my use.
Nice, you are well on your way to forming a unicorn valuation start-up!