I think one thing that's unspoken here is that massive mobilizations of investment money like what we're seeing in AI could be applied to any activity. Saying things like:
"AI spending is propping up major swaths of the U.S. economy."
Tends to lend at least some credibility to the industry, even in a critical piece like this, as in "on one hand it's a dangerous bubble that will one day burst, but at least in the short term it's propping up a failing economy."
But really, if you sunk trillions of dollars into *anything* it would have the same effect. You could be spending it on painting rocks and it would have the same effect. Think of the millions of workers you'd need to paint them all, the boon it would represent for paint and brush manufacturers.
Or hey, better yet, spend it on something like infrastructure or schools or health services. Something that actually benefits people in the long run. 🤷
https://qz.com/ai-bailout-trump-white-house
h/t br00t4c (npub10n2…e0q7)