AI could bring us a ZOMBIE ECONOMY

Dead Internet. Dead Economy. Dead Society.

Welcome to the world of the living dead… brought to you by AI.

Let me explain about this…

I recently was talking to someone about the potential of AI – and this someone would know what he’s talking about. He’s on the ground floor of this industry.

Here’s what’s coming – bots that could promote products on social media, bots ruthlessly calculating odds for gambling, bots waging an eternal struggle about getting to the top of search engine results.

Just for a start.

It reminds me of the “Dead Internet” theory. This holds that the Internet is no longer about people communicating, but bots, with content being automatically generated and driven by algorithms rather than any authentic human feeling.

That may seem pretty grim. (Or pretty hilarious, if you picture people thinking they are having passionate arguments on Twitter when actually they are just posting all caps declarations at an uncaring bot.)

But it’s going to get way more intense.

What happens when AI does the bulk of marketing, or artistic design, or even skilled labor like legal research or commodities trading?

It’s not that competition will go away – but competition will just be about a brute force contest of people pitting AIs against each other.

It feels to me like something essential about humanity will be lost with this. But you can’t stop progress – at least not at scale.

We are all going to have to adjust to the technological revolution taking place.

I am annoyed by sweeping declarations and hyperbolic claims. So I say this not with any sense of triumph or excitement, but from grim foreboding and rooted in fact and expert knowledge.

This is going to be bigger than the Internet itself.

And it is going to raise some fundamental questions about what it means to be human.

It would be the height of naivete to think the trading world won’t be subject to this revolution along with everything else.

Keep Moving,

Though the economy is about to radically change, there will always be a place for critical raw materials.

As I predicted in this interview, oil is only going to become more important in the years to come.

Remember, you can have whatever fancy robotics, software, tools, and weapons you want – but it means nothing if you don’t have power.

This is a roadmap to the years ahead. Don’t ignore it.

WORD ON THE STREET

Tech Layoffs Topping More Than 210,000

Tesla Drops 6% After Another Downgrade – Goldman Sachs gave TSLA stock a downgrade on Sunday and markets responded yesterday, with TSLA dropping more than 6%. Cathie Wood’s Ark Investment sold more than 27,800 shares on Friday.
Tech Boom Isn’t Helping Tech Workers – Defying predictions of a recession, technology stocks have been on a tear lately – but lots of workers are being left behind. According to the website Layoffs.fyi, more than 210,000 global tech employees have lost their jobs Year-To-Date. In fact, 2023 is already far worse than 2022 – more workers have been laid off already this year so far than in all of last year.

Almost 800 tech companies have laid off workers so far this year

Kamala Harris Has WORST Rating Of All Time – Well, if President Joe Biden can’t run for re-election for some reason, don’t assume Kamala Harris will automatically get the nod. According to a new NBC News survey, 49% of respondents have a negative view of the Vice President, compared to just 32% with a positive opinion. That’s a record low for a vice president in the history of the poll.
Putin Claims Rebellion Would Have Been Crushed – Suddenly appearing vulnerable, Russian president Vladimir Putin tried to express confidence when discussing the recent coup attempt by the paramilitary Wagner Group. He thanked the mercenaries who accepted a compromise deal, telling them that they now had the choice of signing with the Russian Ministry of Defense. However, he also said that the rebellion would have been crushed anyway, but expressed gratitude there was no civil war. “They wanted Russian soldiers to kill each other, to kill military personnel and civilians, so that in the end Russia would lose, and our society would split, choke in blood civil strife,” he said.

HOT SPOTS: What’s Going on in Geopolitics

Greek Right Triumphs In Elections – The center-right New Democracy party in Greece won a decisive victory in a recent election, winning more than 40% of the vote. Syriza, the center-left party of former prime minister Alexis Tsipras, trailed by almost 23 points.
Alternative For Germany Party Wins A District – The Alternative for Germany party, which critics call “far-right,” won a district administrator seat, the most prominent victory in its history. The victory in Thuringia now gives the party bureaucratic control over a region, with politicians from other parties expressing outrage.
Ukraine Claims Beachhead In Kherson – According to pro-Russian Telegram channels, Ukrainian troops have crossed the Dnipro River to secure a beachhead in Russian controlled territory. The long-expected Ukrainian counteroffensive has thus far accomplished little, but if Kyiv can hold this territory, it poses a significant threat to Russian-occupied Crimea.

Bank collapses, corporate bankruptcies and more.

Silicon Valley is being gutted and completely reshaped.

Learn how one trigger could be the key to witnessing hundreds of triple digit wins in the aftermath of The Tech Reckoning

CUTTING EDGE: What‘s Happening In Tech

New Powerhouse AI Combination – Nvidia (NVDA) and Snowflake (SNOW) are joining forces to allow customers to build their own generative AI assistants. Nvidia will provide the infrastructure and large language model – Snowflake will contribute the internal data, with more than 8,000 customers eligible to take part.
Robinhood Lays Off Workers As Demand Declines – Just a few days after reportedly purchasing X1 Inc for about $95 million, HOOD is having to lay off about 7% of its workforce, or about 150 people. If the report is true, it would be the third round of layoffs for the company as it struggles to cope with declining demand.
Meta Unveils Games Subscription Service – CEO Mark Zuckerberg announced Meta Quest+, which gives subscribers access to two titles on the first day of each month. The plan will cost either $8 per month or $60 per year.

The perfect gift for that guy who thinks, “You know, I don’t have enough streaming services to keep track of”

“So is one of the world’s most powerful men, the guy who basically mainstreamed the Environmental, Social, Governance (ESG) phenomenon through sheer market power, backing down out of fear? Not quite. Even the quote itself is a bit muddled.”

Larry Fink says he’s “ashamed” about getting involved with ESG. Wait a minute – now he’s saying he never said he was “ashamed,” after all. What’s really going on? And what does this mean for ESG, once the biggest thing on Wall Street?

Mr. X returns to fill you in on what’s really going on with the world’s largest asset manager.

THE END OF ESG

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AI could bring us a ZOMBIE ECONOMY

WORD ON THE STREET

Tech Layoffs Topping More Than 210,000

HOT SPOTS: What’s Going on in Geopolitics

Bank collapses, corporate bankruptcies and more.

CUTTING EDGE: What‘s Happening In Tech

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