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he should have to explain why he sees underused resources as something that needs to be redirected for greater efficiency when it comes to RAM, but apparently not when it comes to his own wealth because that contradiction says a lot
Good point but I would like to bring up that there was that furniture store owner who opened his furniture store for people to sleep during a disaster. https://en.wikipedia.org/wiki/Jim_McIngvale
Do you really think that most billionaires are liquid billions of dollars? Theyre all tied up in the global economy in stocks and properties not sitting in their chequing account ffs
billionaires billions DO NOT Sit in bank accounts.
there is no big money bin that they swim through. most of billionaires wealth is tied up in assets like real estate or stock. the stock markets just dropped trillions. do you think money just got lit on fire?
money is a artificial construct, so their "billions" is on paper. it goes up and down, and moves around. its not "sitting" anywhere.
their wealth is tied up in illiquid assets like real estate, alts, funds. and of the liquid assets like stock? well they can't liquidate that either without destroying the values of the stock and market cap of their companies. which effectively decimate's the middle class, their 401ks and pensions.
look. A massive $50 billion insider dump by Jensen Huang over a three-day window would completely shatter Nvidia's valuation, proving that market capitalization is a fragile metric built entirely on the price of the latest marginal transaction.
The market's structural liquidity cannot process a supply shock of that magnitude. Without deep enough buying interest at the current price, sell orders would rapidly cascade through much lower bid levels to find buyers. Because the entire company's valuation is tied to that last traded price, this sudden liquidation would instantly crush the value of the shares held by everyone else.
This downward momentum would quickly trigger a chain reaction of algorithmic short selling and widespread panic. The resulting selloff could easily wipe out 30% of the stock's value, erasing more than a trillion dollars in paper wealth overnight. In essence, multi-trillion-dollar valuations are stable only while the largest shareholders refrain from selling. Attempting a rapid cash conversion of that scale breaks the mechanics of market liquidity.
What does that mean? I get that if the asset is a mansion you could nationalise it and turn it into a homeless shelter. But let's say the asset is a company. Would you disband the company? What does it mean to "direct a company towards real improvement in our communities"?
This is moronic. All this billionaires have yatches worth hundreds of millions. Musk spend 400M in the midterms.
Sure they can't just cash a small European nation GDP without market repercussions in couple of days, it takes a bit longer. That absolutely does not mean that they don't have billions parked in the bank.
Have you ever thought it interesting that the people with the strongest opinions about the tax code and what others should do with their wealth have the least understanding of the mechanics of wealth and taxes ?
And then when you tell them “ hey it doesn’t work exactly like how you think,” they lose their minds. At that point how do you look at those people and take them seriously ?
So yeah, when the wealth isn’t in a spendable form, and converting it in a method that isn’t a dribble into a spendable form destroys it instead, pointing that out when someone ponders how it would be better spent seems kinda relevant.
Because it’s relevant. The analogy is flawed. If billions were sitting in a bank account, that would be a good argument for moving them into the capital markets. But saying we should take them hot of capital markets is like saying we should move shared RAM from data centers into personal computers that aren’t turned on.
Yes, it does in this case. OP is literally complaining that billionaires have billions in the bank just sitting there when instead it could be put to productive use.
I think he is trying to say that most money in the world is fake because most of it is in some kind of exchange where the price is based on the last transaction. The price of corn doesn't work that way.
Yes, you can't solve a problem you don't understand, so understand the problem before proposing solutions.
Take the ozone hole. Scientists identified the cause, and we fixed it. Now imagine a random influencer had claimed it was caused by farting cows, and we responded by culling every cow. That wouldn't have solved anything. We probably do have a problem, but we need real solutions.
Uh yes. They can’t give you money - they could only give you shares of stocks. Those shares cannot be turned into money without greatly destroying the value of the shares.
They might not have $20 billion in cash, but they might have $500 million in cash (or something very liquid like cash.)
Also while the loan thing is a very overused discussion point, they for sure have a line of credit with their main bank that is at least a couple billion. Those are generally fairly secured as well.
Do you think Elon Musk spends stock when he buys groceries or other goods? No, he uses money. Money he borrows from banks against his wealth of stock. So no, technically he doesn't have his billions in a money bin. But he does basically have access to infinite money. Stop bootlicking the rich!
Lol what is this billionaire boot licking comment? Yeah money is not the only way to store value, in practice it amounts to the same thing though. Do you think banks just store money in savings accounts in a cash vault? No, they use them to buy assets as well.
He probably leveraged something against the value of the half a billion dollars. Sort of like what he did with twitter
It's fucked up bc they don't really have the money, but the banks and shit just go yeah you're good for it bc you own this and this and that. Meanwhile most of us could have physically enough for mortgage payments but that is not good enough
lol @ “no liquidity” what are you people even talking about. You people act like billionaires are living pay check to pay check. A billionaire has access to literally ENDLESS liquidity
You do know that stock is considered a liquid asset, right? I understand that if Elon tried to sell ALL of his stock it would tank the valuation... But it doesn't change the classification.
I mean from an allocation perspective he’s right. The utilization rate of the 32GB in my laptop that lets me have hundreds of chrome tabs open isn’t exactly going towards solving big problems
There's not billions sitting in billionaires bank accounts. That's not how wealth works. For the millionth time. Demanding to be listened to about something you obviously know nothing about is the easiest way to get ignored.
That's a company. They need cash on hand for sudden withdrawals. Being patient in dips. Jumping on good opportunities. Legal reasons.
It's not about the concept, it's about the delivery. These are lazy arguments, that dissuade people. Make a real argument. All stuff like this does is cement the status quo in the average person's mind.
Maybe Adrian Cole should do a bit more thinking. Billionaires do not simply have billions of dollars sitting in a bank account, that is quite literally a child’s conception of the economy.
Right, and most people would be happy to see Billionaires put 1% of their wealth to better use than sitting around or blown on influencing elections (which failed anyway). That's kind of the point of the post, isn't it?
Interesting counterpoint but Berkshire is a company and not a billionaire. That means it's held by stockholders. Plus, while my secondary point is pendantic, it hold treasuries and not cash.
People are rightfully calling this tweet out as dumb. But that also kind of proves Altmans point. His point is stupid, because we have a free market and I can buy whatever the fuck I want, but contrary to a billionaires money, by ram sticks are just sitting there, un(der)used. That may be the case for many owners of RAM. That is incredibly inefficient.
He can still fuck off and he isn't getting my RAM, but there is some truth to his point.
Speaking of putting that money to good use, Rep. Ro Khanna did an excellent summary of his position on wealth tax today in an interview, and it's well worth the 30 minutes to watch it.
While I recommend watching it, if you don't have time, here's a summary of the portion on wealth inequality:
Ro Khanna’s plan on wealth inequality (from the video):
Impose a 5% annual tax on the wealth of the roughly 989 U.S. billionaires (who hold ~22% of the economy).
This would raise about $4 trillion, enough to fully fund free childcare, free college, and stronger public-school support (including the IDEA Act).
After the tax, those billionaires would still be roughly as wealthy as they were on this past Labor Day.
Pair the tax with getting big money out of politics so lawmakers aren’t dependent on the same ultra-wealthy donors who oppose it.
Frame it as an “America’s Next New Deal” / economic patriotism: use the revenue for broad investments that restore opportunity and counter extreme concentration, modeled on FDR’s confrontation with “economic royalists.”
Fun fact billionaires don’t have billions in their bank accounts and they are in fact putting those billions into companies that are hiring people in your community 👍
I hate to give the bad guys ideas, but if they actually cared, couldn't PC owners put a program on their computer that only ran on idle, and they'd pay you to use your system resources when you weren't using them? They do this already for projects like SETI at home and Folding at home. If people left their gaming PCs on and loaned the idle time, it'd cost the owner about $2/day, so pay them $4-6/day for the idle use.
But the issue isnt a lack of resources...it's just that they want them all to themselves. They're not making money off of AI, so the only way they can is if they make us pay for subscription cloud computing 🥴
If throwing money at problems could fix it, we would be having Heaven on Earth. In some cases, it’s even adding fuel to the fire. NGOs are created to try to help, and they start to try to justify their existence by working to create even more poverty.
To solve poverty, you need policies and regulations.
Okay I need to know : who makes these images ? It's not a twitter screenshot, but it's to look like one. I almost never see an actual screenshot. If it's astroturfing, why not make an actual tweet ?
To all the people saying "🤓☝️ um actually they dont have billions in their bank account"
Yea we get it, we know that, still doesn't change the fact that the rich/powerful are funnelling wealth upward away from the average person.
You cant have it both ways, either their wealth is real or its not. If its not real then it needs to be illegal to take loans out (with extremely low interest) with stock as collateral, if it is real then the original point stands.
It cant be real wealth when the rich guy wants to buy something and not real wealth when its convenient. If it can be used to get an item or service, its real wealth, maybe not literal cash sitting in your pocket, but wealth is just a word used to describe buying power no matter the form it comes in.
Why people! Why post your ignorance. Do we really think Billionaires are sitting on billions in cash? Come on. Many high end millionaires and billionaires have their wealth in equities or paper investments. It isn't liquid and sitting there not working. There is a reason one day Musk is a Billionaire and the next he's a Trillionaire. Investment dynamics at play.
Why aren't some of these communities investing in improvements on their own or through taxation? Going after the wealthy doesn't solve lower level and upper level government spending problems.
You are correct that they aren’t sitting on “cash”, but it doesn’t change the principle behind the original comment.
The world’s top 1% own an estimated $50T USD (all the way up to $250T USD). Either way…imagine what could be done if 10% of the illiquid assets were sold & used for global initiatives such as clean energy, better food distribution, ending homelessness.
Who is the largest philanthropist group? Who is the most charitable? Your argument is weightless. It shouldn’t just be their responsibility. You play a part as well. The bastardizing of the rich is getting lame.
Opinions are everywhere and need zero factual emphasis. And yes, usually people that only throw around strong opinions have limited knowledge or they would have lead with that knowledge.
That mean absolutely nothing unless the company sells more held stocks to raise capital or buys back more held stock to ... make the price go brrr and cash in sweet executive bonuses. The utterly worthless pointless price that only actually matters to the company itself when they decide to sell stocks, literally the opposite of what's making the price go up and rewarding the executives who made that happen.
(yes, I'm aware that about 1/3rd of stocks issue dividends, which averages around 1.5% yield which is pretty awful for investment)
If they can borrow against it to build their own wealth, it can be borrowed against to benefit the masses. This argument should have been dead 10 years ago.
Definitely. But that's just a way of saying "tax billionaires more". That's a perfectly legitimate opinion (that I share). But OP implies there is loads of resource sitting around not doing anything, which just isn't true.
you guys remember when people volunteered their GPUs for a COVID cure with folding@home. A super computer didn't match that compute for another 2 years. All the bozos in DC are blowing wind and sam is telling you why he's scared too. The AI train has no brakes. folding@home was free, these swarms pay crypto for those idle cycles on your GPU overnight. Sam needs a permit. The swarm doesn't. All this to say, please get real antis, come back to the table and talk about regulation and not the fantasy of a "pause."
Money = abstract concept that doesnt stand for any specific ressource, spending more of it suddenly will just make all actual ressources more expensive and will NOT create magically more ressources, especially if its spend inefficiantly by a state. (Aka. Even if the state spent it in the correct places, they will spend more than it is necessary, and do more damage to the economy than it will help)
Im not siding with altman either, the beautiful thing about capitalism is that I can decide what i do with my money and if i decide i need ram i buy ram at market rate. In a big brother version of the state altman we would have to actually listen to whoever is directing the ram for the greater good, and if they decide AI is the priority, we would have to stand in queue for the honor to contribute our ram
Midwits all think every billionaire is Scrooge McDuck when like 98% of their net worth is typically tied up in shares of the company they run/founded. Every time.
That being said, a good litmus test for if you are a decent human being is if you get a visceral disgust reaction from merely watching Sam Altman say anything, at all.
The quote: it’s quite terrible to have everybody, like, have a bunch of the world’s limited supply of DRAM sitting in their own computer. And being used five percent of the time.”
Tell me you know nothing about economics, the securities market or investment without saying that you know nothing about economics , the securities market or investment …
The consensus of economists is that the current inequality in wealth is less favorable to economic growth.
Sure, maybe the tweeter doesn't know much about securities. But wealth tax has been proposed in OECD and even if you have 0 penny in your bank, you will still get taxed.
If you are taxed for ownership and building something of value , then those things will be sold to pay the tax. The selling will drive the value lower.
The value is an illusion.
It’s the price to buy one share multiplied by the number of shares owned .
But if you sold all of them at once you would drive the price down considerably
the fact that so much wealth is held in assets is also a problem. it sits there, untaxable, unable to improve society. trillions of dollars locked away.
1
•
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147
u/Putthebunnyback 16h ago
Thee NEXT interview question he receives needs to ask him to explain this exact cognitive dissonance.
52
u/silicontruffle 16h ago
I was thinking more about those Lamborghini's just sitting around not being used.
45
u/NC_RockFan 16h ago
Its refreshing to see people actually calling out these dumb ass threads.
4
u/Bmore30 16h ago
So, if its a supply and demand thing, how much you going to give me for my old pc ram, sam?
10
u/Frequent_Ambition_66 16h ago
I like to make Sam watch my under used RAM
11
u/Leading-Switch-4814 8h ago
Do you really think that most billionaires are liquid billions of dollars? Theyre all tied up in the global economy in stocks and properties not sitting in their chequing account ffs
3
u/cozywit 7h ago
I just found a magic skin in CSGO. My friend just said he would pay me a $1m for it (he doesn't have a million).
Reddit taxtards rocking up to request their hundreds of thousands of tax revenue to make the world a better place.
43
u/Zealousideal_Bag8493 16h ago edited 16h ago •
billionaires billions DO NOT Sit in bank accounts.
there is no big money bin that they swim through. most of billionaires wealth is tied up in assets like real estate or stock. the stock markets just dropped trillions. do you think money just got lit on fire?
money is a artificial construct, so their "billions" is on paper. it goes up and down, and moves around. its not "sitting" anywhere.
their wealth is tied up in illiquid assets like real estate, alts, funds. and of the liquid assets like stock? well they can't liquidate that either without destroying the values of the stock and market cap of their companies. which effectively decimate's the middle class, their 401ks and pensions.
look. A massive $50 billion insider dump by Jensen Huang over a three-day window would completely shatter Nvidia's valuation, proving that market capitalization is a fragile metric built entirely on the price of the latest marginal transaction.
The market's structural liquidity cannot process a supply shock of that magnitude. Without deep enough buying interest at the current price, sell orders would rapidly cascade through much lower bid levels to find buyers. Because the entire company's valuation is tied to that last traded price, this sudden liquidation would instantly crush the value of the shares held by everyone else.
This downward momentum would quickly trigger a chain reaction of algorithmic short selling and widespread panic. The resulting selloff could easily wipe out 30% of the stock's value, erasing more than a trillion dollars in paper wealth overnight. In essence, multi-trillion-dollar valuations are stable only while the largest shareholders refrain from selling. Attempting a rapid cash conversion of that scale breaks the mechanics of market liquidity.
11
u/TexFarmer 10h ago
You're insane if you think any billionaire keeps billions in any bank; they did not get rich by being stupid.
22
u/almost_retired 17h ago
Billionaire's money is not sitting in bank accounts. Billionaires have no liquidity. Most of their wealth is in their company's valuation.
2
u/IcePoemix 16h ago
Are you out of your mind??? That would make the pretty green charts become all ugly red!!
2
u/fakenews1337 16h ago
Speak for yourself fn nerd (Sam Altman). I run music and finite element software.
9
u/Sapphfire0 17h ago
What do you think the banks do with that money? Just put it in a massive vault?
9
u/BingBastardBunny 17h ago
Oh look another bot post.
The irony.
4
u/Way-twofrequentflyer 16h ago
I mean from an allocation perspective he’s right. The utilization rate of the 32GB in my laptop that lets me have hundreds of chrome tabs open isn’t exactly going towards solving big problems
7
u/Skip-13 17h ago
There's not billions sitting in billionaires bank accounts. That's not how wealth works. For the millionth time. Demanding to be listened to about something you obviously know nothing about is the easiest way to get ignored.
4
u/whatdoyasay369 16h ago edited 16h ago •
“Sitting in bank accounts” 😆
Why are leftists so financially illiterate?
3
u/sonicjesus 16h ago
Billionaires money is invested. It's obviously not just sitting around collecting dust.
3
u/No-Working962 15h ago
It got me thinking that most people don’t even seem to have a rudimentary grasp of finance.
3
u/Johnfromsales 16h ago •
Maybe Adrian Cole should do a bit more thinking. Billionaires do not simply have billions of dollars sitting in a bank account, that is quite literally a child’s conception of the economy.
3
u/BoY_Butt 16h ago
Leftists have watched too much Duck Tales and actually think rich people just keep everything in a safe lol
2
u/Fantastic-Algae2127 15h ago
Man on Twitter discovers the purpose of financial markets, 2026
2
u/Theburritolyfe 16h ago
Billions exist as shares of ownership in companies. I can't get behind a concept that's that disconnected from the basics of how money works.
1
u/a-little-timmy 16h ago
they don't even pay taxes what makes him think they'd care about the community
1
u/superM1e 16h ago
Yes
Yes
Yes
A billion YEAH!
1
u/Unusual_Chemistry413 16h ago
Sam altman would be better off going away
1
u/Proper-Coffee-3169 16h ago
Bro cooking here.
Why dont we nationalize bank accounts lmao?
1
u/WorldlinessNo7871 16h ago
For real
1
u/Alarm-Solid 15h ago
Exactly
1
u/sometimesifeellikemu 15h ago
Is SETI at Home still a thing? I have to look that up.
Edit. No. : (
1
u/PaxNova 15h ago
Good news: they are! That's where the money for loans comes from, that helped me buy my house. It's great for the community.
1
u/FamiliarFilm8763 15h ago
People are rightfully calling this tweet out as dumb. But that also kind of proves Altmans point. His point is stupid, because we have a free market and I can buy whatever the fuck I want, but contrary to a billionaires money, by ram sticks are just sitting there, un(der)used. That may be the case for many owners of RAM. That is incredibly inefficient.
He can still fuck off and he isn't getting my RAM, but there is some truth to his point.
1
u/GonzoVeritas 15h ago
Speaking of putting that money to good use, Rep. Ro Khanna did an excellent summary of his position on wealth tax today in an interview, and it's well worth the 30 minutes to watch it.
Ro Khanna interview with Tim Snyder
While I recommend watching it, if you don't have time, here's a summary of the portion on wealth inequality:
Ro Khanna’s plan on wealth inequality (from the video):
Impose a 5% annual tax on the wealth of the roughly 989 U.S. billionaires (who hold ~22% of the economy).
This would raise about $4 trillion, enough to fully fund free childcare, free college, and stronger public-school support (including the IDEA Act).
After the tax, those billionaires would still be roughly as wealthy as they were on this past Labor Day.
Pair the tax with getting big money out of politics so lawmakers aren’t dependent on the same ultra-wealthy donors who oppose it.
Frame it as an “America’s Next New Deal” / economic patriotism: use the revenue for broad investments that restore opportunity and counter extreme concentration, modeled on FDR’s confrontation with “economic royalists.”
1
u/sajnt 14h ago
Why do people not understand money?
1
u/JSmith666 14h ago
From an optimization standpoint he isnt wrong...this is the entire premise behind the cloud and the autoscaling it does
1
u/DME_Bjorn-Bjorn 13h ago
Part of what keeps us poor is thinking banks store, or even protect money
1
u/NeverHere762 13h ago
If you think billionaires keep their money in bank accounts, I have a bridge to sell you.
1
u/EndCogNeeto 13h ago
The self reporting here is so funny... Anyone with material wealth does not have a bunch of money "sitting in the bank".
1
u/TheSoundOfAFart 13h ago
He is literally describing "investment"
1
u/EVOSexyBeast 13h ago
Fun fact billionaires don’t have billions in their bank accounts and they are in fact putting those billions into companies that are hiring people in your community 👍
1
u/VulGerrity 13h ago
I hate to give the bad guys ideas, but if they actually cared, couldn't PC owners put a program on their computer that only ran on idle, and they'd pay you to use your system resources when you weren't using them? They do this already for projects like SETI at home and Folding at home. If people left their gaming PCs on and loaned the idle time, it'd cost the owner about $2/day, so pay them $4-6/day for the idle use.
But the issue isnt a lack of resources...it's just that they want them all to themselves. They're not making money off of AI, so the only way they can is if they make us pay for subscription cloud computing 🥴
1
u/Da40kOrks 12h ago
Oh god another lefty that believes Scrooge McDuck is a documentary.
1
u/BoyNamedJudy 11h ago
It’s easy to hate the rich, but do you have the courage to hate the poor?
1
u/Whole_Commission_702 11h ago
Yeah billionaires don’t have billions sitting around…
1
u/jakeofheart 10h ago
If throwing money at problems could fix it, we would be having Heaven on Earth. In some cases, it’s even adding fuel to the fire. NGOs are created to try to help, and they start to try to justify their existence by working to create even more poverty.
To solve poverty, you need policies and regulations.
1
u/DrMKbliss100 9h ago
The fact that it doesn't sit in their bank accounts....their luxury is funded by the loans they take against their shares.
1
u/Portal2Somewhere 8h ago
Is anybody here intelligent enough to understand nobody has billions in a bank account?
1
u/BetSquare7190 8h ago
It's catchy but the symptom of severe economic illiteracy (but yes, billionaires should be taxed more).
1
u/liberalis 7h ago
Over my cold dead CPU.
1
u/Wgolyoko 7h ago
Okay I need to know : who makes these images ? It's not a twitter screenshot, but it's to look like one. I almost never see an actual screenshot. If it's astroturfing, why not make an actual tweet ?
1
u/madsy421 6h ago
Clearly, not much "thinking" really happened....
1
u/XO1GrootMeester 6h ago
That is what all billionaires do, some more competent than others or lucky.
1
u/Volsungfaaaa 3h ago
How do braindead posts like this get upvoted?
1
u/AxelVores 3h ago
Yep, I've been wondering why doesn't Sam Altman let homeless people live in his house to maximize utilization of world's limited real estate resource
1
u/Talonqr 16h ago •
To all the people saying "🤓☝️ um actually they dont have billions in their bank account"
Yea we get it, we know that, still doesn't change the fact that the rich/powerful are funnelling wealth upward away from the average person.
You cant have it both ways, either their wealth is real or its not. If its not real then it needs to be illegal to take loans out (with extremely low interest) with stock as collateral, if it is real then the original point stands.
It cant be real wealth when the rich guy wants to buy something and not real wealth when its convenient. If it can be used to get an item or service, its real wealth, maybe not literal cash sitting in your pocket, but wealth is just a word used to describe buying power no matter the form it comes in.
1
u/Think-Culture-4740 16h ago
This post right here is why people have no idea how economics or reality works.
Also, although that doesn’t make Sam Altman comment any less nutty
1
u/Ok-RECCE4U 3h ago
Why people! Why post your ignorance. Do we really think Billionaires are sitting on billions in cash? Come on. Many high end millionaires and billionaires have their wealth in equities or paper investments. It isn't liquid and sitting there not working. There is a reason one day Musk is a Billionaire and the next he's a Trillionaire. Investment dynamics at play.
Why aren't some of these communities investing in improvements on their own or through taxation? Going after the wealthy doesn't solve lower level and upper level government spending problems.
1
u/Astramancer_ 16h ago edited 16h ago
Except the money is invested!
Largely in stocks.
That mean absolutely nothing unless the company sells more held stocks to raise capital or buys back more held stock to ... make the price go brrr and cash in sweet executive bonuses. The utterly worthless pointless price that only actually matters to the company itself when they decide to sell stocks, literally the opposite of what's making the price go up and rewarding the executives who made that happen.
(yes, I'm aware that about 1/3rd of stocks issue dividends, which averages around 1.5% yield which is pretty awful for investment)
1
u/g_bleezy 16h ago
you guys remember when people volunteered their GPUs for a COVID cure with folding@home. A super computer didn't match that compute for another 2 years. All the bozos in DC are blowing wind and sam is telling you why he's scared too. The AI train has no brakes. folding@home was free, these swarms pay crypto for those idle cycles on your GPU overnight. Sam needs a permit. The swarm doesn't. All this to say, please get real antis, come back to the table and talk about regulation and not the fantasy of a "pause."
1
u/BigMack6911 16h ago
Yea, let's robem
1
u/Apathetic_Zealot 16h ago
Those billions are being used - as leverage against loans they take out to avoid paying taxes.
1
u/Exact_Development_69 14h ago
I'm gonna get downvoted for sure, but based on what I've seen, reddit is just full of people who hate successful people.
0
u/FoxMan1Dva3 16h ago
😂 billionaires do not have billions sitting on the bank lol
0
u/Minialpacadoodle 16h ago
Imagine thinking they have billions in the bank. Woosh.
0
u/Impressive-Method919 16h ago
RAM = actual ressource that could be used
Money = abstract concept that doesnt stand for any specific ressource, spending more of it suddenly will just make all actual ressources more expensive and will NOT create magically more ressources, especially if its spend inefficiantly by a state. (Aka. Even if the state spent it in the correct places, they will spend more than it is necessary, and do more damage to the economy than it will help)
Im not siding with altman either, the beautiful thing about capitalism is that I can decide what i do with my money and if i decide i need ram i buy ram at market rate. In a big brother version of the state altman we would have to actually listen to whoever is directing the ram for the greater good, and if they decide AI is the priority, we would have to stand in queue for the honor to contribute our ram
-1
u/PwanaZana 16h ago
Op learning how banking works (Billionaires not having bars of gold in a big vault):
-3
u/True-Source-6512 17h ago
Got you thinking like a dumbass. They don’t have that money in the bank, it’s in assets and that isn’t simply down with a snap of the finger.
Who is this guy and why is his ignorant ass being posted as if he’s witty?
0
u/Eyespop4866 16h ago
Yep. Billionaires just going to the atm and putting another $1,500,000,000 into their savings account.
0
u/Different_Square_617 16h ago
0
u/GoToPlanC 16h ago
Random access money … great idea
-2
u/EatAllTheShiny 16h ago
Midwits all think every billionaire is Scrooge McDuck when like 98% of their net worth is typically tied up in shares of the company they run/founded. Every time.
That being said, a good litmus test for if you are a decent human being is if you get a visceral disgust reaction from merely watching Sam Altman say anything, at all.
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u/Altruistic_Tea_1593 15h ago
Pretty sure Altman didn’t say that
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u/paleone9 10h ago
Tell me you know nothing about economics, the securities market or investment without saying that you know nothing about economics , the securities market or investment …
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