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AI capex is so big that it's affecting economic statistics

(paulkedrosky.com)
339 points throw0101c | 3 comments | 18 Jul 25 19:59 UTC | HN request time: 0.767s | source
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jonas21 ◴[18 Jul 25 21:09 UTC] No.44609857[source]▶
I don't know... 1.2% of GDP just doesn't seem that extreme to me. Certainly nowhere near "eating the economy" level compared to other transformative technologies or programs like:

- Apollo program: 4%

- Railroads: 6% (mentioned by the author)

- Covid stimulus: 27%

- WW2 defense: 40%

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raincole ◴[18 Jul 25 21:18 UTC] No.44609942[source]▶
Yeah that's my first reaction to. 1.2% doesn't sound much. It's just people making headlines out of thin air. If it lists the water and energy consumption I might be more concerned.

Slightly off-topic, but ~9% of GDP is generated by "financial services" in the US. Personally I think it's a more alarming data point.

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linotype ◴[18 Jul 25 21:25 UTC] No.44610013[source]▶
https://youtu.be/HA1YKg_OLBw

Financial services makes the unrealistic consumption of rich countries possible. That’s worth 9%.

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anticorporate ◴[18 Jul 25 21:31 UTC] No.44610067[source]▶
Wait, so we could end unrealistic consumption in rich countries and get 9% of our economy back to doing something useful? Sounds like a win-win.
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1. lukas099 ◴[18 Jul 25 21:39 UTC] No.44610115[source]▶
The economy is not a fixed pie that you can just take slices from one sector and give them to another. Financial services provide liquidity that supports every other sector; getting rid of them would cause contraction in every other sector.
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2. puchatek ◴[18 Jul 25 22:40 UTC] No.44610575[source]▶
That's true to a degree. But giving them free reign inventivizes the kind of behavior that gave us the 2008 financial crisis. So the commenter can be forgiven for wanting to limit that sector.
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3. airstrike ◴[19 Jul 25 00:08 UTC] No.44611249[source]▶
They don't have "free reign". And who's to say whether 9% is better or worse for society as a whole.

The comment is an uninformed take.