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For context, the US alone spends annually a bit more than $2T on Social Security, Medicare, and Medicaid. That money is widely dispersed both geographically and
by BenFranklin100 3mo ago
For context, the US alone spends annually a bit more than $2T on Social Security, Medicare, and Medicaid. That money is widely dispersed both geographically and socioeconomically. $2T is not as much as one may think. I think we should let investors put their private money where they wish.
Also, as an aside, the benefits of globalization on the balance far outweigh the drawbacks. Globalization has been the primary force pulling 3rd world countries out of poverty over the last 80 years.
- simianwords 3mo agoYou are comparing flow with a static amount. 2 trillion is the market cap of AI companies right?
- BenFranklin100 3mo agoNo I am not. The discussion is about investment spending on AI. It’s actual less than $2T IIRC, which makes my point even more.
- simianwords 3mo agoI agree with you. The parent thinks 2 trillion is injected into AI companies. I think that is false and they are conflating it with market cap. It does make your point even better.
- overgard 3mo agoYou're equating on-going expenses with new investments, which is just not the same thing. If "$2T is not as much as you think", and yet we could fund literally tens of thousands of more interesting projects with this money, then we are severely misusing capital in general. My point still stands that we're pouring more money into a technology than ever before, and yet it's a technology that's been a net NEGATIVE socially so far.