The state of the economy at the street level

[sptrawler]

A huge part of the student visas is just a backdoor for people to work in Australia. The amount of young Brazilians, Colombians, etc in Sydney I have seen studying "hospitality management" or other such courses at overpriced no name institutes and they openly admit when asked they just do it for the visa. If you removed all the courses that people "study" just to get the visa to remain in Australia so they can work here, etc then the education sector in Australia would probably shrink 50% overnight. Its all a farce.

Which is what should happen, because Australian universities used to be held in high esteem as did all Australian qualifications, now we are trash.
All because of self centred politicians wanting to further their own ends IMO.

Hopefully some left wing loonie wakes up and turns the ship around, because at the moment anyone that says this is going to end badly, is told they are right wing nazi's. Lol

 

[moXJO]

Mass Immigration should be stopped. We are reaching a point where AI is about to decimate jobs. Australia's only focus should be the tech war in AI robotics bringing in people for this.

Things are about to change massively. It will be the most dramatic change in history. AI and robotics are moving so fast that it's hard to predict where things will be a year out. It will eventually get to the point where you can't predict past a day.

Either way you won't need a huge population in most likely 5- 10 years. Majority of jobs will be gone as well.

 

[moXJO]

Just expanding on the above.
It's very hard to think how it's all going to work. You essentially would need to bring in a communist type structure in which the robots do all the work.
There's also talk of humanity branching into two species. One of which will be augmented with tech.

Typing the above post sounds like scifi nonsense but it's scary how close we are.
The better AI gets the faster everything moves. The leaps in the tech are already profound.
It's honestly hard predicting where this will go. Even more so in capturing the bulk of gains. Certain companies will rule the world.

 

[investor13]

Which is what should happen, because Australian universities used to be held in high esteem as did all Australian qualifications, now we are trash.
All because of self centred politicians wanting to further their own ends IMO.

Hopefully some left wing loonie wakes up and turns the ship around, because at the moment anyone that says this is going to end badly, is told they are right wing nazi's. Lol

Even the least left of the left wing loonies Hanson isn’t saying or attempting to do much to address the issues of how extreme the left the university systems have become

 

[TimeISmoney]

Mass Immigration should be stopped. We are reaching a point where AI is about to decimate jobs. Australia's only focus should be the tech war in AI robotics bringing in people for this.

Things are about to change massively. It will be the most dramatic change in history. AI and robotics are moving so fast that it's hard to predict where things will be a year out. It will eventually get to the point where you can't predict past a day.

Either way you won't need a huge population in most likely 5- 10 years. Majority of jobs will be gone as well.

I don't think AI is the powerhouse that people think it is.

Bloomberg - Are you a robot?

 

[investor13]

Mass Immigration should be stopped. We are reaching a point where AI is about to decimate jobs. Australia's only focus should be the tech war in AI robotics bringing in people for this.

Things are about to change massively. It will be the most dramatic change in history. AI and robotics are moving so fast that it's hard to predict where things will be a year out. It will eventually get to the point where you can't predict past a day.

Either way you won't need a huge population in most likely 5- 10 years. Majority of jobs will be gone as well.

So much has been said about the aging population in Australia, Europe etc but you are correct Technology and AI are developing at an alarming rate.

I was reading it’s an estimated that around 30% of the world jobs are jobs related to driver related and the possibility of the need of a UBI universal basic income due to the unfortunate but inevitable self driving cars and flow on effects to the transport industry

 

[moXJO]

I don't think AI is the powerhouse that people think it is.

Bloomberg - Are you a robot?

I've been deep diving lately. People don't even know the US is in a tech race with a few countries. It's probably the most important event since Manhattan project.
I was speaking to a guy that's in the industry and this thing is going to be a nuclear bomb.

It's all just humming along in the background. I think people look at chatgpt and go meh. That's such a small part of what is happening.

Link didn't work for me. But I don't trust those not in the industry.

 

[TimeISmoney]

I've been deep diving lately. People don't even know the US is in a tech race with a few countries. It's probably the most important event since Manhattan project.
I was speaking to a guy that's in the industry and this thing is going to be a nuclear bomb.

It's all just humming along in the background. I think people look at chatgpt and go meh. That's such a small part of what is happening.

Link didn't work for me. But I don't trust those not in the industry.

AI is very costly to run and operate, funding is running out and it's starting to come to a standstill with its sophistication.

See if this link works.

https://www.bloomberg.com/news/videos/2024-12-19/why-ai-is-facing-diminishing-returns-video

 

[moXJO]

AI is very costly to run and operate, funding is running out and it's starting to come to a standstill with its sophistication.

See if this link works.

https://www.bloomberg.com/news/videos/2024-12-19/why-ai-is-facing-diminishing-returns-video

All those reporters are... well, reporters.
In one year those llms have made insane progress. The focus isn't a God like llm just yet. Expert in the field would be sufficient at this stage.

Eric Schmidt recently came out and said it was nonsense and we have about 5 more years before scaling stops.

We also have quantum computing (still a way out) and robotics. Robots in particular shouldn't be affected that much by the llm. I'd expect centralised training, further improvements to the vision system and possibly some form of imitation learning.

We don't need massive advances in llm from here but probably fine tuning to get a lot of the next generation products out.


I'd expect Trump to really gear his term to winning the tech race. I'm expecting big things the next 5 years. It's possible the general public are oblivious to it?
I don't watch much news.

 

[moXJO]

I actually don't see much stock upside for most of the big tech. Maybe a 5-6x in price when it's all said and done.
I was expecting some sort of correction soon as well.