Fuck AI

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"We did it, Patrick! We made a technological breakthrough!"

A place for all those who loathe AI to discuss things, post articles, and ridicule the AI hype. Proud supporter of working people. And proud booer of SXSW 2024.

AI, in this case, refers to LLMs, GPT technology, and anything listed as "AI" meant to increase market valuations.

founded 2 years ago

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144

Goldman Sachs has launched an "S&P ex-AI" index that tracks the S&P 500 stocks not related to AI, offering investors a way to "hedge their exposure to the AI trade. (www.axios.com)

submitted 17 hours ago by Kirk@startrek.website to c/fuck_ai@lemmy.world

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I know this isn't wallstreetbets but I can't help but wonder if this is a more secure investment than the usual S&P500.

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[–] supersquirrel@sopuli.xyz 13 points 14 hours ago* (last edited 2 hours ago) (1 children)

Honestly given how much of a Cargo Cult the finance industry is, I would expect you could outperform the market and investors far more knowledgable than you simply by refusing to be a fool about AI and get scammed by its hype.

Idk specifics here, but the logic is very sound.

[–] yakko@feddit.uk 3 points 12 hours ago

The tacit assumption that troubles me is the idea that the stock market must sooner or later bow to reality in a way that is proportional to its flights of fancy. The basic ideas that underpins value investing, in other words.

Putting it mildly: I don't feel confident that can be relied upon in 21st century US markets.