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/biz/ - Business & Finance


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57651866 No.57651866 [Reply] [Original]

Wealth is basically going to be locked within the next 2-3 years, with very little social mobility possible after that. AI is going to make every white-collar job irrelevant, forcing everyone but the elite into blue-collar jobs, which will also be severely reduced by the end of the decade. Sure, the countries that can afford it will likely have some form of basic UBI, but it will be far below what people are used to.

Basically, what I'm saying is this next bull run is your last chance.

>> No.57651909

It's hilarious how everyone is marching happily towards social and economic collapse like cattle to the fucking slaughter

We're standing at the intersection of like eight different apocalyptic crises and everyone is going to act surprised when we get hit

>> No.57651914
File: 46 KB, 640x513, 1708127189933826.jpg [View same] [iqdb] [saucenao] [google]
57651914

Gonna hijack this thread with a related question:
What mistakes did you make last bullrun that you are determined to avoid this time around?

>> No.57651933

>>57651909
>>57651866
What coin should buy bros I’m scared

>> No.57651948

>>57651933
Gold and silver, maybe platinum

>> No.57651964

I genuinely cannot see the short term AI revolution yielding anything short of absolute fucking disaster.

At least I can go live with my dad on a farm when I can no longer generate income.

>> No.57651975

thats retarded. there have been countless times in history where some technological advancement made jobs obsolete and we're still fine.

also ai is trash moron how about u read a book for once in ur life. ai in its current state isnt even ai it's a pathetic algorithm built on massive amounts of data that gives the illusion of ai but if you actually use it it's worse than the average indian on fiverr.

>> No.57652002

>>57651914

not selling

>> No.57652035

>Unemployment is going to rise post robotics+AI
>This will cause the price of producing goods to decrease
>Production is already very automated, Automation and efficiency bottleneck will be met shortly after the paradigm change take place
>The fed will keep printing money (inherent to the system)
>There's no bottleneck on the money printing glitch, Money will keep losing its value over time
>Therefore automation efficiency doesn't scale with the system long term
>Therefore crypto is the necessary solution

>> No.57652089

>>57652002
okay but how prepared are you this time? are you laddering your sells?

>> No.57652105
File: 156 KB, 1593x674, 1707668985773933.png [View same] [iqdb] [saucenao] [google]
57652105

>>57651866
I have enough money to do "Basic NEET" so I guess I can do that if shtf

>> No.57652200

>>57652105
I currently have 100k in bitcoin so I think I can at least hit the first tier this bullrun. I am living with my parents and they don't charge me rent. I work a shitty minimum wage job and only make about 1500 a month, so waging isn't going to have me retire, I have to rely on bitcoin.

>> No.57652406

>>57651866
I'd expand the time-window a bit more. It's probably going to be closer to 10 years. It takes a long take to develop and implement technologies and gain the confidence to completely lay off teams. If AI screws up some code, you just try again. If AI screws up engineering or law - people are going to jail.

But this is a serious warning. Things are already pretty shitty but we're quickly going to get to the point where most people live like the middle-class in third world countries: technically getting by, but little chance of ever building capital.

>> No.57652436

>>57652105
I have $1.2M net worth and live with my boomer father.

Not joking.

>> No.57652690

>>57651948
Don't listen to this inflationary shiny rocks collector

>> No.57652803

I am aware anon, it is becoming very obvious, so, fucking close to making it.

>Feels good knowing I made the ultimate sacrifice for my family.

>> No.57653867

>>57652105
This. I have already saved enough money that I could retire today and support a middle-class lifestyle for the rest of my life.

>> No.57653869

>>57652436
I’m in the same situation, haha.

>> No.57653908

Statist dullard.

>> No.57654059

I thought the same thing

It's truly over for normies

>> No.57654165

>>57651909
Always has been, like the final solution

>> No.57654178

>>57651914
came too late.

My first buy was end of 2021 just before the crash

>> No.57654202

>>57651975
Oh you're going to use the history argument? Sure, let's go with that. Since the advent of cilvilization, about 10k years ago, 99% of the time society has been such that 99% of the population lived as poor as fuck subsistence farmers and only 1% lived as anything else.

Our current society is the exception and it's not hard to see us going back to the norm.

>> No.57654231

>>57651914
I missed it because I thought 2017 was the top.

>> No.57655709

>>57652803
>Ultimate sacrifice
Oh so you have died for your family? Kek

>> No.57655718
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57655718

>>57654202
Civilization was a mistake.

>> No.57655944

>>57655709
You are a literal bugman low IQ golem, the ultimate sacrifice is taking the risk to bet on yourself so that you can not only give back to your parents what they gave you but also take care of them without lowering my quality of life. It is the ultimate sacrifice because I am giving up on holiday and BMW which a sub-human like you would not have the tenacity to do.

>> No.57655985
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57655985

>>57652105
300K€ here, I'm 34. If I go to a lower tax country, or in a third world shithole, I probably could get by on that and a 7% yearly on a World or SPY ETF.
I'll probably wait until 500-600K at least though. Which unironically is already secure, I should inherit at least 150K in the next 10-12 years, and I save up 20K a year from my salary.
Maybe I should retire soon, instead of waiting.

>> No.57656222 [DELETED] 

єαяη ƒяєє gιƒт¢αя∂s αs мαηy тιмєs αs yσυ ωαηт αη∂ яєsєll ιт ƒσя ρяσƒιтs, яєα∂ тнє ρ∂ƒ αт тнє lιηк вєlσω

tinyurl
com/mr26jfar

h4d7b4m7b3

>> No.57656387 [DELETED] 

             ,       

tinyurl
com/2rwkyjdz

z8h8g8r5e3

>> No.57656443

>>57651933
RLC. At least you'll have good favor with the AI if you invested in them

>> No.57656466

The middle class will be gone within a decade, THEN it's over. 2-3 years is too soon.

>> No.57656488

>>57655944
>ultimate sacrifice because I am giving up on holiday and BMW
Ow, that REALLY IS the ultimate sacrifice, kek. Kys you pathetic consoomer retard. You are worth less than dirt. Once you are dead you will have made a real sacrifice. Now start splitting your wrists.

>> No.57657000

>>57651866
nah we got til the end of the decade at least

>> No.57657557

>>57651914
99% of traders lose money trying to time the market.
>not selling the top
>not buying the bottom
just dca you fucking retards its not that hard.

>> No.57657891

>>57651909
Jogger I don't know what to do. I have a rental, I have a highly technical job in plastics, so I'm guessing I'm safe until they make AI robots or some shit. I'm cashing in as much as I can, but at the same time they are now pushing for unrealized gains tax, they'll likely tax landlords to death, I don't make enough to get free in the next decade and they'll entirely cripple social mobility and deathstomp anyone who made it to upper-middle class down in the dirt with the rest of the population. What are the options even?

>> No.57657910

>>57651975
The improvements in AI are compounding and explosively exponential. Never in history has there been a technological advancement that was able to learn and improve itself. It will be out of our hands soon.

>> No.57657924

>>57652035
>Overproduction at increasingly lower prices
>Thinks crypto is an alternative
>Thinks money will even be a factor
We will eventually get some global bank digital units based on how well-behaved we are. No one will produce shit themselves anymore, so you aren't buying shit with your crypto, as you're only going to get access from selected producers and service providers.

>> No.57657950

>>57651866
We can start by dragging every frogposter out from his NEETcave and hang him from the nearest tree

>> No.57658033

>>57651914
selling the top

>> No.57658070

>>57651914
too much pride to get into the nft craze because my dignity forbided me from using money to buy fucking .jpg file, while everyone else was getting filthy rich from them

>> No.57658268
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57658268

There are people right here on this board, in this very thread, that will be left out by the Singularity.
In a way, thank god these retarded bobo doomers exist, they're the necessary losers for us winners to reach the top.

>> No.57658382

>>57651914
I held XRP waiting for it to hit 2k
still going to do the same this next bullrun
don't care, never selling

>> No.57658485

>>57651866
Yeah but we're approaching the end of this bull run, so it's more like a year at most.

>> No.57659465

>>57651866
What makes you think that they won't just confiscate what you have amassed?

>> No.57659619

>>57652406
not really sure if I agree, if you look at a lot of inroads made by the tech industry many of them were able to frontrun legislation and public scrutiny. Ridesharing and those stupid e-scooter rentals are a few examples. Some cities already have fully automated taxis and driving around and that's not even a technology that people trust yet.
AI will absolutely transform many careers before people realize what's happened. All that matters is that the efficiency and benefit of adopting AI outweighs the drawbacks, it doesn't have to be perfect it just has to be better.

>> No.57659961

>>57654202
This. As concentrated as the wealth is now, it is nothing like how it was for most of human history. We will likely eventually return to the mean.

>> No.57659981

>>57651866
Got it. All in NVDA puts.

>> No.57660018

>>57654202
Techno feudalism here we come

>> No.57660335

>>57651866
I live in Mississippi. Their retirement plan is PERS. When I became employed I got in under what they call “Tier 2.” (Tier 1 is the sweet deal Boomers got.) Then came Tier 3. Then Tier 4. Tiers 3 and 4 each required people work longer to become vested, and to work longer until they could retire, but benefits remained the same.

Our lawmakers are discussing a new “Tier 5.” (I’m still in Tier 2 and less than 20 years later they’re already drafting Tier 5). Tier 5 proposes employers contribute less, AND there is NO GUARANTEE of cost of living adjustments after retirement! So basically anybody who doesn’t start working for the state SOON is going to get royally screwed.

>> No.57660787

>>57651866
I'm super grateful I mostly made it last cycle. Currently building a home in coastal Montenegro. I have rest of my net worth in crypto, hoping for a safe 3-5x this cycle. Then I'm going off grid lol

>> No.57660837

>>57651866
They're just going to dole out UBI since the entire point of white collar work was to avoid hard labor

>> No.57660848

>>57654202
Damn. I didn't think of it that way and you really put it in perspective

>> No.57661703

>>57660837
The UBI will be just enough to get by at best. If you were lower class to begin with, it might be a net benefit, but anyone middle class is gonna see a drop in life quality.

>> No.57661741

I've been in crypto since 2017 and have under $5k networth. I have missed multiple chances to make it, and will probably miss multiple more. I have been trying and obsessing every day for 6 - 7 years. You think I would kms if I'm still poor after 2030, but I'm not a faggot. I will keep trying via other methods, because there is no other option. Life is struggle, every living thing on this earth works to survive. Why should I expect my life to be any different? I don't want to be part of the cattle, but I can't escape the inertia of the herd.

>> No.57661776

>>57651866

Fuck work.

>F
>U
>C
>K

>WORK

>> No.57661839

>>57651866
imagine not just yoloing crazy money into AI companies at this point

ENQAI, BasedAI, LushAI, Filecoin, etc.

At least then you have a shot to ride the inevitable AI wave.

>>57651909
if its any consolation, we'll at least be able to see the normalfags - these people that promoted all of this degeneracy and abided by it - get destroyed economically or vaxxinomically before succumbing to whatever the next great flood is ourselves

>> No.57661912

>>57661703
most inflation is caused by wagies working so sidelining a lot of people who were forced to do meaningless busywork will cause massive deflation and everyone will be better off

>> No.57662180
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57662180

>>57652105
Do rural apartments even exist? Just a tower block in the middle of the woods, eerie and forbidding

>> No.57662213

>>57651975
(((We're))) still fine

>> No.57662219

>>57662213
LUL wassup bitconnect

>> No.57662225

>>57658485
>bull run
>even started yet
Strap in my jogger you are going to shit egg rolls when you realize how incorrect you are.

>> No.57662229

>>57659465
I hold most of my wealth in monero, which can't be confiscated because the value is going to zero

>> No.57662298

One minute timeout post

>> No.57662427

>>57652436
I would be rich too but I have to spend money on young whores to get laid
You might have heard of it

>> No.57662442

>>57660787
What are your coins this run? Do you have a steady supply of pussy?

>> No.57662453

the truth is we're headed for hell on earth and everything you own can become meaningless within days.

>> No.57662475

>>57651866
Why won't we need blue collar jobs? I feel like robots and maintenance is like way cheaper than giving me a room and some eggs. Wealth will be locked tho. They're cancelling capitalism. You're either in or you're out.

>> No.57662488

>>57651866
True the next year is like when you start a videogame and you have 2 minutes to grab as much ammo and supplies as possible for the round

>> No.57662531

>>57651866
all you have to do to keep your job or continue earning a living is be in the top 1% to 10% in your field
unfortunately, that means midwits and midwits larping as geniuses on 4chan are out

>> No.57662620

>>57655944
>I am giving up on holiday and BMW
And here I was thinking men that went off to die in war were sacrificing. Obviously that's nothing compared to not going on holiday or having a nicer car.

>> No.57662637
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57662637

>>57651909
Happily? Dog, nobody has a choice. Do you think all the wagies out there have any ability to fight the system? A bunch of magatards were let inside a building on January sixth, messed up some papers, and the federal government is railing them. How do you think they'll react when the shooting starts? It's basically game set match nobody has any will to fix this

>> No.57662726
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57662726

>>57651866
>AI is going to make every white-collar job irrelevant
LLM's generate text that is plausible based on trained human data. They don't think. Nobody is going to certify a financial audit by Sam Altman's latest bullshit creation over PricewaterhouseCoopers any time soon. Stop being a retarded Boomer.

Do you know what this reminds me of? When people said universities would die out because of Wikipedia and "open courseware". People also said experts would no longer exist because Google would have all knowledge. People also said physical stores would disappear due to the Internet. That you'll only buy your cars online, that we'll all be living in the Metaverse, and that electric cars are the wave of the future (hint: sales are going tits up).

Silicon Valley has to overhype things because money is made in SV on cashing out overvalued stock. They get morons like you riled up about the latest thing, magic stock goes up, they sell. AI is the new "Web3/blockchain", before that it was "IoT" (remember, your toaster was gonna talk to your car?). I'm amazed on /biz/ of all places you retards don't understand this, I expect it from /pol/.

>> No.57662772

>>57651866
I have heard this every year of my life. I’m 50

>> No.57662957

>>57651866
>AI is going to make coding irrelevant
You don't code, clearly. Only nocode faggots say this shit. Do you know what the binary system of the computation is? It's this. Literally. It's every second of every computer you've ever used. People thinking "AI" is real, or that LLM's are suddenly going to start doing things unprompted is literally like believing the lightswitches in your house are about to start turning on and off by themselves. You're fucking schizo and you don't even know it.

LLM's might automate some of the most tedious boilerplate coding tasks but that's fucking it. Coding is a business not a fucking college group project people's livelihoods are at stake. No one is going to sacrifice their company to "train" LLMs. When shit goes wrong people want someone to blame, not "oh, looks like it's the "AI" that messed up, too bad!" Lol yea right. You've never coded, you've never dealt with gay ass "stakeholders" who have no fucking idea how to code and can barely wrap their minds over the simplest aspects of their own products. Lol I laugh so hard at all of you faggots who think coding is about to go anywhere, go look at job postings you retards, I'm about to start applying to jobs soon to level up my career and things are looking dandy.

>> No.57663337

>>57651914
$0 didn't sell the link top and held down -90%

>> No.57663522

>>57662620
Nigger, you are a pathetic coward. I look down on your pathetic trash man life. You know you choose holiday and BMW over your bloodline and parents because you are a faggot and that is why you are so deeply rustled.

>> No.57663536

>>57651866
This is exactly what they said in 2019
not saying you're not wrong because I do pity anons in their first cycle (it takes 2-3 cycles to make it)
Just saying it's always doom and gloom and you're most likely dead wrong there will always be money to made

>> No.57663554

>>57663337
Yeah just don't buy the retarded narratives again and you're good. You can't make money if you don't sell. only retards don't take profits. It's a funny number going up and down until you want to buy real things and suddenly that number is half of what it was and dropping

>> No.57663899

>>57662726
>>57662957
holy fuck ngmi. get off this board and come back when you learn just a little bit about what the current sota models look like for cv & llms and put the pieces together of where it's heading

>> No.57664166

>>57662229
How will you use your monero in the coming techno feudalism? What purpose will it serve?

>> No.57664189

>>57651914
selling the bottom multiple times.

>> No.57664602

>>57662726
>People also said physical stores would disappear due to the Internet
This mostly did happen though