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"So, you're saying a third of the stock market is tied up in seven AI companies that have no way to become profitable and that this is a bubble that's going to burst...?" (pluralistic.net)
submitted 10 months ago by to c/fuck_ai@lemmy.world
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CWs: Cory Doctorow, newsletter, mentions of his upcoming book that he's selling.

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[–] 29 points 10 months ago (3 children)

We need a better tool than that old, easily-manipulated "stock market" to track value. Value needs to become real again, not always inflated, because "shareholders".

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  • [–] 14 points 10 months ago (1 child)

    Value is a mechanism that hides what actually creates value: human labor power

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  • [–] 7 points 10 months ago (1 child)

    Energy & material extraction also create value.

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  • [–] 9 points 10 months ago

    But who mines the materials? Natural resources are given to the oil and gas industries. The gasoline and fuels displace the value of human work by technological means, but the machines still need people to run them. The machines were built by workers. Without people doing stuff the oil and minerals just stay in the ground.

    You can argue that oil and gas mineral industry mines the resources, but those resources, and the work it takes to extract them, is incredibly valuable to society. So who owns them, and why, becomes a political question.

    Value is nothing but a store for human labor.

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