We toss our hard earned money into the stock market with hopes it will grow and help us establish some form of financial freedom in the future–especially in retirement. Some of us spend countless hours trying to figure out the right sectors and stocks to grow our money.
Today, we have largely found the sector and stocks to grow our money. Artificial Intelligence and several major companies associated with those two words have made people a lot of money over the last five years. And quite frankly, assuming all goes as planned, those companies are going to make people even more money in the years to come.
That said, as our nest eggs continue to grow on the shoulders of Palantir, Google, Amazon, etc., aren't we feeding into the very issue that so many folks are warning about AI? To put it simply, we are enabling a small subset of companies to take control over the entire world–and that control includes your personal data, jobs (or lack thereof), and way of life. Ultimately, nobody wants to be jobless with robots running the world, right?
If we had no skin in the game–meaning portfolio investments in these companies–there is no way we would be rooting for them to take over the world, right? I definitely do not want the ultimate goals of someone like Sam Altman or Alex Karp to come to fruition. However, if they do, I do stand to make some money in the market with either direct or indirect investments in those companies.
Anyone else feel like we are turning a blind eye to a mammoth long term problem (AI) in order to make some short(er) term money in the market?
The stock market is the entity causing us to lose the plot with AI…
byu/PodcastPee inStockMarket
Posted by PodcastPee
2 Comments
If you can’t beat em, join em.
I get your point but isn’t this how every major technological shift has worked
People invest in it because it creates value even if it also concentrates power
The real question is whether regulation and competition will balance it out over time