It is 'nearly unavoidable' that AI will cause a financial crash within a decade, SEC head says::undefined

  • Blackmist@feddit.uk
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    1 year ago

    They've been fucking with automated trading for decades though, unless you're going to try to convince me that there's a human investing in a trillionth of a company for a hundredth of a second at a time.

    It's already caused "flash crashes" before. https://en.wikipedia.org/wiki/2010_flash_crash

    The idea of investing in companies because you believe in them and want a share of their profits is sound enough I guess, but what it's morphed into is nonsense. The result is a system where you have trillion dollar companies that never actually turn a profit in favour of "growth".

    • Urist@lemmy.blahaj.zone
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      1 year ago

      Wow, they tried to blamed it on one autistic dude trading from his parent's apartment in London?

      1. WTF
      2. He was the most powerful man in the world for 30 minutes according to them, lmao. Why can't my personal issues give me super powers?
      • Blackmist@feddit.uk
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        1 year ago

        I love how they always mention the autism, as if being a mathematical genius is a common symptom, rather than just being able to remember every episode of Naruto.

        • Restaldt@lemm.ee
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          1 year ago

          Hey did you know the specific heat of water is 4.184 j/g°c because i learned that once in a physics class more than a decade ago and i still remember.

          I am not a physicist and the memorization of that fact does not help me. Thanks brain.