this post was submitted on 01 Aug 2025
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Yeah ed is a bit polemic but on the money. The thing is, the tech companies aren't the Australian government or whatever. Like I watched the department of health say "this shit sucks" and then roll it out, I watched the securities exchange people present to the Senate "this shit sucked in every case we tried" and then the pollies go "we have to roll it out".
This isn't a case of developing a domestic industry in case one day it's useful. It's literally just buy the bad product now in case one day it's useful.
The orange hell site is full of people saying it's amazing. Reddit too. WTF is wrong with their fucking brains? Can they not distinguish quality at all?
I have no term for this other than zombie economy. Everything's dead and rotting but keeps moving. It's so baffling how much it's been pushed when it's provably not good and lies all the time. I saw an article talking about like a report where some senior developers used LLM coding tools and self-rated their productivity as higher when in actuality it was 20-25% worse. All of that time was a result of having to double check everything the programs did because they were wrong so often. Such a strange phenomenon. Like, if we all really believe it works it will surely do so eventually, right? Is this idealism?? Magical thinking??? But it's like the machine casts spells on us, instead. Purely because the output reads as kind of human sometimes.
Ed Zitron literally calls it the “Rot Economy”, and has done great reporting on it. You’re not imagining it.
Keep in mind that all these financiers and politicians are (for the most part) the same people who cashed in or bailed on the internet in 99. The smart ones know they're building another dotcom bubble but they don't want to lose the game of chicken at this point.
I mean the real ghouls are going to be making hay when the correction does come, the house always wins etc. etc. But I think the spectre of dotcom and then SF finance cashing in on web 2.0 makes up the superstructure here.
totally agree, I think theyre stacking as many cards as they can on the tower while betting for it to fall
worth also adding that in terms of the base, these capitalists desperately need to keep floating this along until they can bilk suckers in public markets for the overvaluation so that they can cash in on the bubble before it pops
When the bubble collapses there will be countless articles about "if only we could have prevented this", "no one knew just how bad it was" despite all the alarm sounded beforehand. And nothing will be done about the people who caused it!