I saw a post on Mastodon saying that we shouldn't be wishing/hoping for the AI bubble to burst as it will hurt lower/middle-class folks.

Linh Pham

Guess what the AI bubble is doing right now? Jacking up electricity bills and property values for smaller business who want to move or expand.

Cities, counties and states are giving datacenter companies years of property tax rebates or nixing them completely. That impacts everything from local services, education, emergency services, etc.

The mad frenzy for hardware (processors and various forms of memory, spinning drives) is causing the cost of tech goods to ramp up dramatically, impact those who are trying to purchase equipment (schools, libraries, etc.) that are already strained by the lack of property taxes.

Miss me with you being on your high horse and actually understand the impact that the AI bubble bursting has for the lower/middle-class folks.

#AI

William Pietri

@qlp And I'd add that any bubble represents putting money into mirages. It's waste on a titanic scale. Propping up a bubble means ever-increasing levels of waste. The sooner people going back to investing sanely, the better it is for everybody, and the smaller the harm from the bubble popping.