commercial real estates also blaming fall in stock prices on AI
https://www.ft.com/content/90e8ed28-e44b-48da-b06c-a54bc71f053a
yes really. and not on, say, being greedy dickheads who overstretched badly. it woz the AI wot done it
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@davidgerard so all we need now is for the power-mad executive class to realise that bullying LLMs isn't nearly as satisfying, and that'll be the end of this bubble, just like it spelt the end of the remote working revolution.
@davidgerard When the bubble pops they're all going to blame AI the way everyone blames the coworker who quits for every problem that shows up for the six months after he leaves...
@davidgerard now that’s just silly. most in banking know that commercial real estate has been tenuous since the pandemic. lots of loans coming due for half-full office buildings, tarriff-battered factories and the like. the way CRE works isn’t like home mortgages. it’s all ‘partnerships’ and balloons and renegotiations and buck-passing… hilarious to try and scapegoat AI for an obvious market correction. hell, AI data centers have been the only thing driving CRE growth for the past couple years!
@davidgerard as this crap ramps up, the queue of industries blaming AI is just going to grow. Greed is a disease.