My father always taught me to invest in companies offering services or products I believe in.
Aside from the obvious upside of increasing valuations, how do we justify our personal investments in tech companies, chip ETFs, etc.?
Communities across the country are protesting the installation of data centers. Most Americans are petrified of losing their jobs to AI. Environmental impacts from AI are ever-increasing. SpaceX’s IPO document asserts its AI-driven revenue will reach $28.5 trillion, roughly the US GDP (insanity).
Even our basic tax structure makes us vulnerable to the AI revolution. With the majority of US gov’t revenue deriving from income and payroll taxes, we’re set to lose vast amounts of government funding at the same time demand for public services rises expeditiously. Social Security, Medicare, Medicaid…all funded by employed people, not computers.
Do we seriously believe in these investments?