Featured image of post AIs Gamble: Another Tech-Fueled Crash

AIs Gamble: Another Tech-Fueled Crash

AI trading? Sounds futuristic but its just another way for greed to flourish Remember 2008? This is just a 21st-century version of the same old gamble Trust nobody especially not algorithms

TL;DR

An individual is using AI to trade stocks, showcasing the dangers of trusting AI with investment decisions. This reckless gamble highlights how technology can fuel financial scams and the human cost of chasing quick riches.

Story

Another day, another get-rich-quick scheme bites the dust. This time, it’s not some shady crypto guru promising moon shots—it’s AI, the supposed savior of everything, being used to gamble away people’s money. This ‘AI investing update’ reeks of desperation and delusion. The author is pitting five Large Language Models (LLMs)¹ against each other, using real money, with the threat of canceling paid subscriptions hanging over their heads. It’s like a digital, high-stakes poker game fueled by hubris and the false belief that AI can predict the chaotic world of stock markets.

The mechanics are simple, yet tragically effective: leverage blind faith in technology with the adrenaline of a contest. The author presents this reckless gamble as a ‘competition’, but in reality, it’s a gamble with other people’s money. It’s the equivalent of playing Russian roulette with a loaded gun. We’ve seen similar scenarios before; think of the dot-com bubble² or the 2008 financial crisis³—irrational exuberance leading to devastating losses. It’s a prime example of how technological advancements can be manipulated for greed, dressed up as innovation.

The human impact? While we don’t know the specific amount lost, any money put into this experiment is gone. This situation represents the very real human cost of chasing short-term gains and believing in magic solutions. People trust these systems, only to have their hopes and financial security crushed. Many will lose more than just money; they’ll lose their belief in the promise of technology as well.

The lessons here are brutal: Don’t trust AI investment advice blindly. AI is a tool, not a financial oracle. ‘Guaranteed returns’ are as mythical as unicorns. If someone is pushing you to invest in something that sounds too good to be true, it probably is. Remember, markets are unpredictable; even experts get it wrong. The key is to diversify, seek professional advice, and never chase quick riches. Diversify your investments and always seek professional advice.

In conclusion, this AI investing saga is a cautionary tale. It’s a reminder that even the seemingly infallible AI is being used to fuel scams and that greed will always find new ways to mask itself. In the realm of personal finance, be wary of any investment scheme, especially those that leverage the latest technological trends.

Advice

Never blindly trust investment advice from AI or anyone promising guaranteed returns. Diversify, seek professional guidance, and remember that markets are inherently unpredictable.

Source

https://www.reddit.com/r/wallstreetbets/comments/1mou3r0/ai_model_investing_update_for_the_week/

Made with the laziness 🦥
by a busy guy