It depends on what you consider capitalism.
Suppose you would take the system we have today, put all the stock of every company in a big fund and give everyone equal voting rights in, and profits from, the fund.
That would be a very anarcho-communist world. All economic power would be with the people, not the state, evenly divided, so no one would be richer than anyone else.
But others would call it capitalism because it would be the exact same system we have today.
I always think, capitalism is like fire.
Left unchecked, it will burn everything down.
But properly harnessed, it can feed, heat and transport people.
The BRICS are already trading without dollars. They might price things in USD, but the actual trades don’t use USD.
But is he really gonna tariff 55% of the global population?
The world economy will just adjust to operate without the USA. It will be painful and take a few years, but it will also be irreversible.
To be frank, we don’t need a global reserve currency in this digital age. Businesses and consumers can cheaply trade any currency pairs with minimal costs.
The dollar’s status is a leftover from the past.
As I understand, he was part of a brigade that killed people in the context of a civil war where his brigade was fighting against ISIS
Quite an important footnote.
Extra funds are only useful if they can provide a competitive advantage.
Otherwise those investments will not have a positive ROI.
The case until now was built on the premise that US tech was years ahead and that AI had a strong moat due to high computer requirements for AI.
We now know that that isn’t true.
If high compute enables a significant improvement in AI, then that old case could become true again. But the prospects of such a reality happening and staying just got a big hit.
I think we are in for a dot-com type bubble burst, but it will take a few weeks to see if that’s gonna happen or not.
They have made it harder, but it’s not really hard.
Just buy any regulated crypto and convert. Cake Wallet makes it easy, but there are many other ways.
I myself hold Bitcoin and Monero.
There could be some trickery on the training side, i.e. maybe they spent way more than $6M to train it.
But it is clear that they did it without access to the infra that big tech has.
And on the run side, we can all verify how well it runs and people are also running it locally without internet access. There is no trickery there.
They are 20x cheaper than OpenAI if you run it on their servers and if you run it yourself, you only need a small investment in relatively affordable servers.
True, but training is one-off. And as you say, a factor 100x less costs with this new model. Therefore NVidia just saw 99% of their expected future demand for AI chips evaporate
Even if they are lying and used more compute, it’s obvious they managed to train it without access to the large amounts of the highest end chips due to export controls.
Conservatively, I think NVidia is definitely going to have to scale down by 50% and they will have to reduce prices by a lot, too, since VC and government billions will no longer be available to their customers.
Wth?! Like seriously.
I assume they are running the smallest version of the model?
Still, very impressive.
I disagree.
Like it or hate it, crypto is here to stay.
And it’s actually one of the few technologies that, at least with some of the coins, empowers normal people.
Because the silicon valley bros had convinced the national security wonks in the Beltway that it was paramount for national security, technological leadership and economic prosperity.
I think this will go down as the biggest grift in history.
Kevin Walmsley reported on Deepseek 10 days ago. Last week, the smart money exited big tech. This week the panic starts.
I’m getting big dot-com 2.0 vibes from all of this.
I personally think that moment was in 1993, when the Encarta CD was released.
It had a huge amount of information, but it didn’t feel overwhelming.
The internet also didn’t feel overwhelming.
In 2005, I think the internet already felt overwhelming.
But I guess if you weren’t the nerdy type crawling the web, then social media and smartphones were the game changer and I would put the date closer to 2010.
You are talking about people who voted loyal to Democrats for decades, donated and campaigned.
The democratic party took their votes for granted and wasn’t even willing to talk to them.
So what’s your point?
Was this election so unimportant to the Democrats that they couldn’t pressure Israel into a ceasefire in October?
Biden had all the power for the past 15 months. Failing to deliver anything and claiming they are “working tirelessly” can only mean incompetence or deception on the part of Democrats.
Blaming Palestinian-Americsns for staying home when American bombs were killing their families is just such a weak take.
No it would not be even close to being equivalent to gov+dd, because the government and fund would be totally separate power structures.
You could modify the scheme so that dividends and profits only go to retirees, which would make it a giant retirement fund.
Some people argue China is capitalist and others argue it is socialist or communist.
Truth is, these are all 19th century debates on archaic terms. Every developed country today has a mixed-mode economy with some form of capitalism combined with some form of communism.
It’s more fruitful to discuss how we harness the power of each system in a way that benefited humanity.