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Microsoft and Alphabet results show Wall Street only cares about AI
(www.marketwatch.com)
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this post was submitted on 27 Oct 2023
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AI is another one of those tech fabs that'll fade away, but not like blockchain and NFTs. There's money to be made because people are excited, but it's use-cases are much more complicated.
AI is a fantastic tool for creators, including programmers with Copilot. But it isn't a full-blown replacement for workers quite yet. A lot of capitalists are really excited to slash their workforce in half, sure, but they're utterly ignoring the true potential of AI. It's a tool, not a replacement (yet).
If they really wanted to slash their workforce, middle management has been able to be automated for over a decade. They don't want to fire their friends and their kids.
Middle management doesn't work for you. They work for your boss, and they make sure that the bosses are not bothered by you.
They do exactly what they are meant to do.
There are completely automated tools that can handle that. I don't work for anyone, and haven't for quite a while. People used to work for me, but I prefer working alone. I automated my latest businesses so that I don't have to deal with the public, or employees. It's lovely.
Those capitalists also do not understand that if these tools can replace workers everyone can, through FOSS projects, own these tools and let them work for themselves.
This is an extremely good thing for investors.
Very successful small companies almost always seek capital.