The Corporate Media Blasted Bitcoin for Destroying the Planet and Must Do the Same to Incite the Public Against the 'Great Rigging of Wall Street' (Under the Guise of "AI", the Latest Gold Rush)
"AI" is the next "metaverse" (trailing by a few months). Hours ago in the news, citing a Chinese publisher:
THERE are several perfectly objective and legitimate reasons not to support/adopt so-called 'cryptocurrency' (neither crypto nor currency). We're not going to enumerate all the reasons (many did this in the past and did it very well) but instead focus on 2 environmental factors: 1) manufacturing of barely useful hardware for totally useless tasks (raising costs of hardware for everyone). 2) abundant energy usage that can compare to grand totals of very large nations (increasing everyone's energy bills due to scarcities).
Both of those things are equally applicable to the "AI" hype, plus considering the ethical problems associated with LLMs and some CG algorithms (which typically just boil down to mass plagiarism passed off as "fair use") we might be dealing with a thing far worse than a cheesy Ponzi scheme.
Since the corporate media treats corporations like its lovable, hug-able darlings and takes advertising money from those "tech" giants, it's not likely to scrutinise the nonsensical and even illegal stuff they do. Or, alternatively, none of the criticism will serve to balance off their puff pieces produced to help Wall Street rallies based on pure bubbles (or intentional lies, at least inflated/exaggerated claims).
The latest spin we saw (link intentionally omitted) said that Facebook's (now "Meta") and Microsoft's stocks crashed last week due to them not building datacentres fast enough for "AI". Funny that... considering how many people they lay off, including datacentre staff at Azure (even this winter). A lot of the supposed "demand" is imaginary; there is "ghost" growth or rather covert degrowth. They defraud shareholders with false numbers and they cook the books. They moreover conflate waste of energy with "value" or "productivity", i.e. the same as Bitcoin. █